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Tuesday, May 22, 2018
ENI’s LNG scheme in Mozambique will launch production by the end of 2022 according to the country’s Mineral Resources and Energy Minister Max Tonela. In local media reports, Tonela was cited as saying that construction of the anchoring system for the FLNG platform commenced in March in the Coral South field of Area 4.
“The completion of the (platform’s) construction is scheduled for late 2021 and it is expected to be in Mozambican waters by the end of the first quarter of 2022, ready to extract the gas, turn it into a liquid state, and export it on freighters to the whole world,” Tonela is quoted as saying.
He added: “The start of natural gas production is expected to occur in the last quarter of 2022.”
According to the official, the consortium is expected to invest $8 billion and should generate direct profits of around $47.7 billion in the 25 years of project life, with the Mozambican government due to earn $24.5 billion resulting from tax on oil production, corporate income tax and production sharing.
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