Continental Focus, International Reach

ENH Puts LNG Fund Raising on Hold

Wednesday, July 10, 2019

Omar Mitha, the CEO of Mozambique’s state-owned ENH, said the government plans to suspend fund-raising to secure its stake in the Mozambique LNG project. ENH, which controls 15% of shares in the project, is supposed to mobilize $2.3 billion dollars for its development.
Mitha explained that this measure was being taken due to the recent scandal regarding hidden public debt. He said that when the scandal was put to rest it would result in reduced risks and allow the company to obtain better results in the market.
“We will return for funding when conditions become more attractive,” he said, according to reports in the local press.