Rovuma Area 1 partners seek funding

Mozambique

MAPUTO, December 14, 2018 – Mozambican Minister of Mineral Resources and Energy Max Tonela has announced the launch of the process to secure funding for the Rovuma Area 1 block, international media reported Friday.

Export credit agencies will guarantee the USD 12 billion of financing needed for the first two liquefaction lines of Anadarko’s Mozambique LNG project, Macau Hub reported.

At a meeting with officials from export credit agencies, Minister Tonela called it “a milestone that represents the maturity of the enterprise.”

Last month, Anadarko awarded a consortium of TechnipFMC and VanOord an EPCI contract for the project. Twenty subsea wells are to be linked to Mozambique LNG, a two-train, 12.88-million-tonne-per-year onshore gas liquefaction plant to be built near Afungi, in Cabo Delgado province, via 16-inch pipes. The project is expected to cost USD 30.5 billion and to start up in late 2023-early 2024.

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