STATE EXPECTS BILLIONS OF DOLLARS IN REVENUE FROM GAS

MOZAMBIQUE: GAS/RM/8/2/18 SABANews 1

Natural Gas extraction plant

CABO DELGADO – MOZAMBIQUE says it expects to collect more than 30-BILLION US dollars from gas revenue by 2047.

The UNITED STATES-based company, ANADARKO, has clinched a deal to extract natural gas off the coast of the northern province of CABO DELGADO.

RADIO MOZAMBIQUE says the State has approved a plan for Offshore Area ONE in the ROVUMA Basin, where a consortium headed by ANADARKO has discovered vast reserves.

It says approval of the scheme paves the way for ANADARKO and its partners to take their Final Investment Decision on the project.

Culture and Tourism Deputy Minister ANA COMOANA, the Government Spokesperson, has revealed the information to reporters after a weekly Cabinet Meeting in the capital, MAPUTO.

She says the plan covers extraction of gas from undersea wells, its transportation to onshore liquefaction plants, and storage equipment with the capacity to handle almost SIX-MILLION tonnes of gas a year.

The MOZAMBICAN Cabinet Spokesperson says her country estimates by the year 2047 the natural gas project will generate revenue of 30-POINT-SEVEN-BILLION US dollars, from taxes and shared profits./Sabanews/cam

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