The investments will be made to to develop the northern ports of Pemba and Palma, where a giant logistics base and Liquified Natural Gas (LNG) production plants are planned that will use gas produced from offshore fields in the Rovuma Basin being developed by U.S. oil major
Anadarko Petroleum Corp and Italy’s Eni.
“CFM wishes to expand the port’s capacity to meet the growing demand from mining, agriculture, and other industries in the provinces of Cabo Delgado and Niassa. For that to happen $115 million should be mobilised”, Matavele esquita told the company´s meeting on Friday, at the Congress of the Association of Portuguese Speaking Ports (APLOP) which is being held in Maputo.
Mozambique, which still bears the scars of a 1975-1992 civil war, is hoping revenues from its large gas deposits and its fledgling coal mining industry will help it emerge from years of poverty and
dependence on foreign donors.
Of the world’s LNG, about 70 percent is consumed by China, South Korea, India, Japan and Taiwan, and Ocuane said it was these Asian customers Mozambique would aim to supply.
Around 180 trillion cubic feet of gas has been found in Mozambique’s offshore Rovuma Basin. This would be enough to supply Germany, Britain, France and Italy for 18 years.