Communication - Presse
Possible Second FLNG Platform in Cabo Delgado Still Being Studied, ENH
It has been in the news that Eni, the Italian company that owns the FLNG platform that is already in Mozambican waters and that will start gas exploration in Area 4 of Rovuma in October, is thinking of implementing a new floating natural gas production platform in the Rovuma Basin, with conceptual studies of the project currently underway, according to the National Hydrocarbons Company (ENH).
According to the PCA ENH, Estevão Pale, there are already several Italian companies interested in investing in gas exploration projects in Cabo Delgado. “The partners, in this case the Italians, have been talking about the possibility of being able to bring a new platform, but this is a matter that is still in a conceptual study phase, there is no approval. They are just ideas and we are studying, analyzing the projects and ascertaining the pros and cons. Also from our side we have to see what the benefits will be. It is clear that there are opportunities, the market has opened up because of the war situation in Ukraine, there is a need for gas for Europe and we think that Mozambique should take advantage of this opportunity,” explained Estevão Pale, quoted by O País.
Regarding the ongoing projects, Pale says that the country’s biggest problem is in finding the cheapest cost funding to independently secure ENH’s participation in the projects.
“As you know, ENH participates in Area 4 with 10% and in Area 1 with 15%, and right now it is being carried by the partners. Of course, these financings are quite expensive and we have been working to look for alternatives to refinance its participation. Now, additional projects mean an additional effort for ENH, in terms of finding alternative sources to be able to cope with its participation in these projects,” stressed the PCA.
Currently, and also according to the leader, the projects underway in the Rovuma Basin explore less than 10% of the reserves already approved.
The first Liquefied Natural Gas from the Rovuma Basin starts to be exported in October of this year, and the first project, called Coral-Sul, is led by the Italian company Eni.
