Browsing: LNG

Eni, as delegated operator of the Coral South project on behalf of its Area 4 Partners (ExxonMobil, CNPC, GALP, KOGAS and ENH), confirmed that the first shipment of liquefied natural gas (LNG) produced from the Coral gas field, in the ultra-deep waters of the Rovuma Basin, departed from Coral Sul Floating Liquefied Natural Gas (FLNG) facility.

“The first shipment of LNG from Coral South project, and from Mozambique, is a new and significant step forward in Eni’s strategy to leverage gas as a source that can contribute in a significant way to Europe’s energy security, also through the increasing diversification of supplies, while also supporting a just and sustainable transition. We will continue to work with our partners to ensure timely valorisation of Mozambique’s vast gas resources,” commented Eni CEO Claudio Descalzi.

As part of its exploration activity offshore Mozambique, Eni discovered Coral South gas field in 2012 and took …

• Tanzania’s Energy Minister Hon. January Makamba invites participants to TEC
• Patrons to review opportunities in Tanzania’s $30bn LNG investment
• Despite huge natural gas deposits, majority of Tanzania relies on firewood, charcoal

With an abundance of a diverse collection of natural energy resources, Tanzania is now poised to make the most of this enormous wealth that largely remains untapped. To this end, Tanzania is this August hosting its fourth edition of the Tanzania Energy Congress (TEC).

The highly anticipated executive summit will be hosted in the country’s commercial port city of Dar es Salaam 3 – 4 August 2022. Two day conference is held under the auspicious leadership of the Minister for Energy of the United Republic of Tanzania, Hon. January Makamba and will highlight the Ministry of Energy’s plans and priorities for both the energy and hydrocarbons sector in Tanzania.

The conference is thus, the opportune opportunity for investors to …

• Tanzania has signed an energy deal to export natural gas
• Tanzania’s 4th energy summit to open new investment options
• Tanzania allays environmental concerns over offshore energy works

Following the success of the previous Tanzania Energy Congress (TEC), the organisers will now host the 4th TEC edition in Dar Es Salaam from 3 – 4 August 2022.

The two-day summit comes against the backdrop of the just signed liquefied natural gas (LNG) deal between the Tanzanian government and several international energy companies.

This June, Tanzania signed an agreement with Norway’s Equinor and Britain’s Shell to start construction of a $30bn project to export liquefied natural gas (LNG) from the East African economic giant.

In the wake of the signing, stakeholders are looking to discuss the opportunities that will arise from the deal. No other get-together will bring more stakeholders to one venue to discuss the pros and cons of this …

Tanzania’s race for natural gas development is strategic and on point. The nation has been paying attention to several methods of maximizing the LNG potential.

LNG in Tanzania is faced with other competitions in the region. Egypt is the next potential powerhouse next door and a much more experienced producer.

In 2012, Tanzania and three Chinese companies agreed to construct a 542 km pipeline leading from Mtwara to the nation’s commercial capital, Dar es Salaam.…

Senegal is becoming one of the most exciting oil and gas plays to emerge in recent years in sub-Saharan Africa´s largely underexplored oil and gas sector.

The country may be a relatively new player in terms of production coming on stream, but in fact, oil and gas exploration has been taking place in the country as far back as 1961.

It was only until major world-class offshore oil and gas discoveries were made in 2014-2016 that global energy investors began to truly realize the huge potential of the MSGBC Basin, which comprises the offshore waters of Mauritania, Senegal, The Gambia, Guinea-Bissau and Guinea-Conakry.

Prior to the large-scale discoveries, Senegal was already maneuvering into a good position to capitalize on its hydrocarbon wealth thanks to the leadership of H.E. President Macky Sall who was a former Director General of the state-owned oil company PETROSEN.

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In a country with a population of 32.2 million, its Foreign direct investment (FDI) in the South Africa Nation has been in decline since 2013 due to political uncertainty and falling commodity prices. However, the fact that inward investment has remained steady throughout the Covid-19 Crisis, coupled with the country’s abundance of liquefied natural gas (LNG), demonstrates potential for increased inflows going forward.

Mozambique Offshore Finds

Mozambique’s offshore natural gas discoveries in the Rovuma basin since 2009 have been nothing short of prolific. It has changed the fortunes of one of the world’s least-developed countries

They are now valued at approximately 50 times the country’s gross domestic product (GDP).

While these gas fields are still under development, data from fDIMarkets– a branch of the Financial Times Group that collects and tracks FDI projects around the world – suggest that foreign companies moved in right after the first discovery in …

“The change of tone ushered in by President Samia Suluhu Hassan over the last month could indicate a welcome to a whole new economic direction in Tanzania’,” remarked Peter Leon, Partner and Africa Co-Chair, Herbert Smith Freehills

Investors have been wary of dipping their feet in Tanzania’s investment pool, more so investors in the extractive industries. In March 2017, a total ban on the export of unprocessed mineral concentrates and ores was instated.

Just four months later, in July 2017, after six days of deliberation, three new laws assented. The new laws gave significant power to the government, empowering it to control the extractives sector autonomously.

The three laws that were altered are:

• The Natural Wealth and Resources Contracts (Review and Renegotiation of Unconscionable Terms) Act, 2017 (Unconscionable Terms Act);
• The Natural Wealth and Resources (Permanent Sovereignty) Act, 2017 (Permanent Sovereignty Act); and
• The Written Laws(Miscellaneous Amendments) Act, 2017 which

African economies thrive on an abundance of natural resources. However, the financial resources needed to exploit these resources remain a major constraint in Africa. Foreign direct investments are playing a critical role in filling the capital gap in Africa as most governments run on budget deficits. 

Mozambique, a new investment hub, is booming with capital inflows in its energy sector. With its abundant natural gas resources, the country has positioned itself as a dominant energy investment hub in Southern Africa.

The Prospects

Massive natural gas reserves

Mozambique has a lot of proven natural gas reserves. It ranks 14th in the world in terms of its reserves. However, production for this energy resource is still very low as well as local consumption. This is a result of poor infrastructure development to extract the resource and also proving that the sector is still in its infancy stages. There is increasing interest …