Communication - Presse

Mozambique: 135 gas shipments since 2022 – ENH

Mozambique has exported 135 gas shipments to foreign countries since 2022, from the north of the country, the National Hydrocarbons Company (ENH) announced on Saturday.

“Shipments began in 2022, so we have 118 shipments of LNG [Liquefied Natural Gas] and 17 of condensates,” said Monica Juvane, director of ENH, the Mozambican state-owned oil operator, during a seminar in Maputo.

According to Juvane, the main buyer of the gas is the British oil company BP, which signed a 20-year agreement in 2016 with the oil company Eni and the state-owned energy company to purchase gas extracted in Mozambique.

“These are gas contracts, and gas contracts have a long term, and this one was awarded to BP,” explained Monica Juvane, adding that the government intends to expand domestic gas distribution by 2028, through the installation of a gas piping system for homes, to boost the country’s energy transition.

Profits of Empresa Nacional de Hidrocarbonetos (ENH), Mozambique’s state-owned oil and gas operator, fell by half in 2024 to 1.737 billion meticais (€23.4 million), according to official data consulted by Lusa in July.

This performance contrasts with the positive net income of 3.58 billion meticais (€48.2 million) in 2023, which represented a sevenfold increase in the space of a year, justified by management with the “considerable increase in revenue from natural gas sales”.

According to the document, with the financial statements as of December 31, 2024, in addition to the drop in profits, ENH closed the year with total assets swelling to 28.706 billion meticais (€386.9 million) and liabilities that increasing slightly to 8.918 billion meticais (€120.2 million).

ENH, which has a share capital of 749 million meticais (€10 million) fully subscribed by the Mozambican state, operates under the Ministry of Natural Resources and Energy, with its main objective being petroleum activities, “namely the exploration, research, development, production, transportation, transmission, and marketing of hydrocarbons and their derivatives”, including import and export.

Established in 1981, ENH participates in all petroleum operations and in the respective phases of the exploration, exploration, production, refining, transportation, storage, and marketing of hydrocarbons and their derivatives, including Liquefied Natural Gas (LNG) and Gas-to-Liquids (GTL), both within and outside the country.

Mozambique has three approved development projects to exploit the Rovuma Basin’s natural gas reserves, ranked among the largest in the world, off the coast of Cabo Delgado. In addition to the one operated by Eni and already in production, these are Mozambique LNG (Area 1), operated by TotalEnergies, with up to 43 million tons per year (mtpa), and Rovuma LNG (Area 4), operated by ExxonMobil, with 18 mtpa, currently under development.

In 2024, a study by the consulting firm Deloitte concluded that Mozambique’s gas reserves represent potential revenues of US$100 billion (€96.2 billion), highlighting the country’s international importance in the energy transition.

This year alone, without the remaining operations yet to come online, Mozambique’s estimated gas production is 5.4 billion cubic meters, making it the sixth-largest producer in Africa.

https://clubofmozambique.com/news/mozambique-135-gas-shipments-since-2022-enh-290608/