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Sunday, September 3, 2017
The government of Mozambique issued a number of decrees that revolve around its burgeoning natural gas sector and in particular it’s soon to be booming LNG sector. The first are Decrees Nos. 36/2017 and 37/2017, both of July 21, 2017, where the terms and conditions of the Concession Agreements for the Materials Offloading Facility (MOF) and the LNG Marine Terminal at the Afungi Point, Tungue Bay, District of Palma, Cabo Delgado’s Province were respectively approved.
The MOF and LNG marine terminal concessions have been granted to Mozambique MOF Company, S.A. and LNG Marine Terminal Company, S.A., two special purpose entities incorporated by the Rovuma Basin Area 1 and Area 4 Concessionaires pursuant to Decree-Law No. 2/2014, of December 2, 2014.
This is another key milestone to make the development of the onshore Rovuma Basin LNG Project viable.
The next saw the Council of Ministers approve, by means of Decree No. 13/2017, of May 17, 2017, the Financing Structure for the Rovuma Basin Area 4 Coral South FLNG Project. This is the largest external project financing ever obtained for a project in Mozambique, which therefore makes it viable and allows for the development of this offshore gas undertaking to move forward.
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