Browsing: Area 1

Business Satellite view of Ilha Tecomaji and the Afungi Peninsula. Image: Google
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Anadarko and ExxonMobil’s plans to build giant LNG export projects in northern Mozambique have derailed construction of a tourism complex on Ilha Tecomaji by a company part-owned by a former minister of natural resources. Anadarko and ExxonMobil’s refusal to engage with Tecomaji Lda “is in [...]

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Economy Prime Minister Carlos Agostinho do Rosario and Finance Minister Adriano Maleiane in parliament on 3 May 2017.
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Mozambique should only pay sovereign bondholders $369 million of a potential $500m gas-linked bonus, the country’s finance minister told parliament last week - but his calculations only make sense if ExxonMobil’s planned LNG project does not go [...]

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Economy Chart by Sauti. Estimates by Zitamar
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Mozambique’s total repayment for the $850 million borrowed by tuna fishing company EMATUM could top $2.4 billion, under a new restructure proposal revealed by the government this week. Annual payments would be between $36-40 million for the first five years - and would remain below $60m [...]

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Economy EMATUM's fishing boats rusting in Maputo harbour. Photo © Timothy Haccius / Zitamar News
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Mozambique has reached a restructure agreement for its $726.5m sovereign bond with a group of creditors, offering to repay all of the principal, most of the interest, and give a gas-linked bonus of up to $500 million. Agreement has already been [...]

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Extractives Anadarko operations in the Gulf of Mexico. Photo: Anadarko
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Mozambique’s immigration service says it sees no need to make special preparations for the start of work on the $20 billion LNG projects next year - despite fears that it will be overwhelmed by demand for visas and work permits for foreign [...]

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Extractives A early visualisation of how Mozambique's onshore LNG project could be laid out. Image: Anadarko
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Mozambique’s minister of energy and mineral resources will visit Thailand tomorrow to push the Thai government to approval a deal to buy Mozambican LNG that was first announced almost 10 months ago. State-owned energy [...]

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Extractives Operations on offshore Area 1, Mozambique. Photo: Anadarko
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Investors are queueing up to take a 10% stake in the Anadarko-led Offshore Area 1 LNG project in Mozambique’s Rovuma Basin should a Japanese state-owned company decide to dispose of its interest in the project, the CEO of Mitsui said on Wednesday. [...]

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