During his annual report on the General State of the Nation, President Filipe Nyusi revealed that revenues from the natural gas extracted by the Floating Platform (FLNG) of the Coral Sul project, in the Rovuma basin, could reach 75 million dollars, representing a significant boost for the state coffers.
The President of the Republic, Filipe Nyusi, announced on Wednesday, December 20, that revenues from the natural gas extracted by the Floating Platform (FLNG) of the Coral Sul project, in the Rovuma basin, could reach the 75 million dollar mark. This news was announced during the annual report on the General State of the Nation.
Nyusi pointed out that by the end of this year, the Coral Sul platform will have completed 41 shipments. He pointed out that Mozambican gas is already being consumed in Europe and Asia, translating into substantial gains for the country. So far, 39 shipments have been made, benefiting not only the national economy, but also local communities in Cabo Delgado, especially in the districts of Palma and Mocímboa da Praia.
The first shipment of LNG left FLNG in November 2022, marking the start of a 20-year sale and purchase agreement with BP Poisedon. The Coral South FLNG project, with a gas liquefaction capacity of 3.4 million tons per year, aims to produce 4.7 billion cubic feet of natural gas from the vast Coral reservoir.
Nyusi reiterated that the LNG Mozambique project, led by TotalEnergies, could resume next year, thanks to the government’s efforts to improve security in Cabo Delgado. The project was suspended due to terrorist attacks, which have recently decreased due to the intervention of Mozambique’s Defense and Security Forces, supported by Rwanda and the Southern African Development Community Military Mission (SAMIM).
Despite the challenges, the country is optimistic about the natural gas sector contributing not only to the economy, but also to the stabilization of Cabo Delgado, which has faced terrorist attacks since October 2017, resulting in a humanitarian crisis with more than 3,000 lives lost and more than 900,000 people displaced.
