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Mozambique risks missing Chinese LNG demand

Mozambique needs to find $2.5 billion to finance its stake in the Rovuma LNG projects as pressure mounts to get both developments under way next year Mozambique needs to find $2.5 billion to finance its stake in the Rovuma LNG projects as pressure mounts to get both developments under way next year.
By Leigh Elston 26 October 2018 0 33063
Anadarko drilling offshore Mozambique Anadarko drilling offshore Mozambique. (Anadarko)

Mozambique LNG developers Anadarko and ExxonMobil need to reach FIDs on their respective projects in 2019 to avoid missing out on the key Chinese buyers needed to underpin the two plants.

Rising gas demand as a result of Beijing’s coal-to-gas switching programme has made Chinese buyers keen to lock in long-term supply deals. PetroChina signed its biggest ever long-term sales-and-purchase agreement (SPA) with Qatargas for 3.4 mtpa in September. This came after a three-year contract was signed in July for...