Mozambican State Expects To Earn Up To US$212 Billion From Gas – By 2035

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2015-10-29) The Mozambican state expects to earn from US$67 billion to US$212 billion from natural gas in the Rovuma basin by 2035. The revenue will come from taxes and fees, in addition to dividends from state participation in the development of Rovuma Basin Areas One and Four.

According to the Chairman of the Board of Directors of the Mozambican Hydrocarbon Company (ENH) Omar Mitha, the government intends to ensure that 20 to 25 percent of logistics are provided by Mozambicans, “using domestic gas resources to ensure the development of the industrial base of the country, impacting exports and taxation”.

But first, ENH will have to secure its part of the investment. According to estimates revealed by Mitha, the state business arm will need US$2.5 billion to finance its participation in the gas projects.

Mitha said that he would prefer the state company secure funding based on future gas sales, a model of securing project finance without resorting to public debt.

Companies with gas concessions in the Rovuma basin expect to start operating in 2020, from when up to 700,000 jobs are expected to be created.

With the construction and production of six liquefied natural gas platforms expected, the gross domestic product of Mozambique is expected to increase by US$39 billion in 2035.

Source: O País

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