Special Report

The Rumble in Rovuma: Mozambique takes on the LNG heavyweights

Exploring the development of Mozambique LNG and how this potentially game-changing project could affect the global LNG industry.

The global LNG market is in a dramatic state of flux. Australia is set to overtake Qatar as the world's largest producer, while a number of other countries are seeking ways to monetise both conventional and unconventional gas reserves.

One such country is Mozambique, where offshore finds are estimated at 4.25 trillion cubic metres. Interfax Global Energy's latest special report – The Rumble in Rovuma: Mozambique takes on the LNG heavyweights, looks at all the factors affecting the development of Mozambique LNG and examines how this potentially game-changing project could impact the global LNG industry.

Written by Natural Gas Daily and Global Gas Analytics editors based in London and Maputo, our 24-page special report examines all the factors affecting the largest and most important infrastructure project in the country's history – from the political, legal and regulatory climate and the costs and construction schedules for the onshore and offshore plants, to the price and demand outlook for the global LNG market and possible farm-downs of the blocks.

Table of contents

  • Maputo plays the waiting game
    Construction was expected to begin on the first Rovuma Basin LNG projects by the end of 2014, but low oil prices and a challenging in-country environment means FID remains some way off.
  • Optimism despite political turbulence
    The air of optimism surrounding Mozambique's political scene since Filipe Nyusi's election as president has been clouded by a restive opposition threatening to seize power in six of Mozambique's northern and central provinces.
  • Strengthening laws and institutions
    Mozambique's new government has been broadly welcomed by investors, but the capacity of government institutions to regulate a mammoth LNG industry remains in doubt, while legal uncertainties threaten to complicate matters further.
  • EPC costs and cost overruns
    Political instability, a remote location and the operators' lack of LNG experience will make financing and constructing the LNG projects a major challenge, despite falling EPC prices. Eni's FLNG plans appear to provide a quick fix, but also present serious technical and political challenges.
  • Gossip surrounds majors' manoeuvres
    As Eni and Anadarko remain tight-lipped and FID is kicked further down the road, the rumour mill is turning furiously to fill the information gap.
  • Further down the line
    Mozambique LNG will happen, but not by 2018 – and that may be no bad thing. Mozambique is already looking beyond LNG, to GTL, petrochemicals and pipeline exports to South Africa, but a gas-fuelled boom too soon could destroy other sectors of the economy and weaken governance.

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