Mozambique government forecasts 4.7% growth in 2019
The Mozambican government expects the economy to 4.7% in 2019 in relation to this year, according to the proposed Economic and Social Plan (PES) approved by the Council of Ministers yesterday.
“PES 2019 is based on the following macroeconomic assumptions: economic growth of 4.7%, annual average inflation rate of about 6.5%” and “reaching US$ 5.16 billion in exports of goods”, the Deputy Minister of Mineral Resources and Energy said.
According to Cabinet spokesman Sousa Fernando, it is also expected that Mozambique will maintain Net International Reserves (RIL) sufficient to cover six months of imports of non-factor goods.
At the same meeting, the 2019 state budget draft amounting to 324 billion meticais (EUR 4.64 billion) was approved, and will be discussed in parliament by the end of the year. The State Budget approved for 2018 amounted to 302.9 billion meticais (EUR 4,3 billion).
“In the 2019 State Budget, the allocation of public resources will continue to be directed towards consolidating the democratic process and complying with strategic and priority actions defined in the Government’s 2015-2019 Five-Year Plan for the economic and social sectors that provide basic services to the population,” the document reads.
Although approved by the Council of Ministers, the draft 2019 Economic and Social Plan and State Budget have not yet been disclosed by the government.
miércoles, 12 de septiembre de 2018
Mozambique on Track to Become a World Leading Gas Supplier – One Project at a Time.
Mozambique are looking to establish the country as a world leader within the LNG sector through heavy investment in multi-scale projects. Foreign energy giants such as ExxonMobil and Eni are investing heavily on billion-dollar projects such as the Rovuma LNG Export project, the Mozambique LNG project and the Coral Sul project.
Rovuma LNG Export project:
US-energy giant ExxonMobil has in partnership with Eni and CNPC submitted development plans to the Mozambican government for the first phase of the Rovuma LNG export project.
ExxonMobil intend to design and build two liquefied natural gas (LNG) trains which will each produce 7.6 million tons of LNG per year.
The Rovuma project’s gas field is located in the Mamba field in block four offshore Mozambique and production is expected to commence in 2024.
The joint venture is also backed by its partners Galp, Kogas and Empresa Nacional de Hidrocarbonetos, each of which hold 10 percent interest in the project. A final investment decision (FID) is expected in 2019.
Mozambique LNG project:
Another major player for the development of LNG in Mozambique is Anadarko Petroleum. Anadarko is leading a consortium consisting of Japan’s Mitsui and India’s ONGC and the national oil company of Mozambique, ENH, as well as Bharat PetroResources, PTTEP and Oil India Limited for the Mozambique LNG project.
Mozambique LNG is located offshore Mozambique in Area one and is estimated to have reserves at about 75 cubic feet with an initial production rate of 12.88 million tonnes of LNG per year when completed in 3023/24. However, the consortium is planning on expanding the plant every five years to add more capacity.
EDF of France has recently signed a 15-year contract to buy LNG from the Mozambique LNG plant, whilst Tokyo Gas of Japan and UK based Centrica early in June 2018 signed a 20-year purchase agreement.
A final investment decision for the Mozambique LNG project is scheduled for the first half of 2019.
Coral Sul Project:
A third large investment for the country is a consortium led by Eni of Italy whom last year gave the go-ahead to th US$8 billion floating LNG project, Coral Sul. The Coral Sul LNG project has a capacity of around 3.4 million tonnes per year and are targeted to start production in 2022. The Coral Sur filed is located offshore Mozambique in block four. Construction of the hull began on the 6th of September whilst construction of the floating platform began last March in Singapore.
Barragem de Cahora Bassa em Moçambique a operar abaixo da capacidade por falta de água
Hidroeléctrica de Cahora Bassa (HCB), empresa que explora a barragem de Cahora Bassa no rio Zambeze, em Tete, Moçambique, obteve um lucro de 7,2 mil milhões de meticais (cerca de 118 milhões de dólares) em 2017, apesar de aquela infra-estrutura não poder operar na sua plena capacidade devido ao baixo nível de água na albufeira escreve a Agência de nOtícias de Moçambique (AIM)
Falando em Maputona reunião anual sobre o desempenho da HCB, Moisés Machava, director técnico da empresa, explicou que uma ‘seca cíclica’ registada em 2016 reduziu a quantidade de água na albufeira para 41,8 por cento da cota ideal.
Em Dezembro de 2016, a cota na albufeira de Cahora Bassa atingiu o mínimo de 312,22 metros, cifra que corresponde a 41,8 por cento, ou seja oito metros abaixo da curva guia. Este foi o menor nível registado desde a construção da barragem.
Face às medidas de gestão da albufeira adoptadas pelo Conselho de Administração e dos níveis de precipitação acima da média registado em toda a extensão da bacia do Zambeze, o ano de 2017 foi marcado pela recuperação significativa da cota da albufeira em relação a 2016.
A administração do HCB concluiu que a cota não era suficiente para manter a barragem a operar a plena capacidade e, por isso, decidiu desactivar uma das cinco turbinas gigantes (com uma capacidade individual para gerar 415 megawatts).
A HCB espera que a recuperação no nível do Zambeze continue ao longo de 2018, e que até o final do ano a cota atinja 320,12 metros. No entanto a empresa revelou quepretende operar apenas quatro turbinas ao longo do ano.
A HCB gerou 13.778 gigawatts-hora de electricidade em 2017, uma quantidade superior a meta inicial de 12.906 gigawatts-hora, mas menor que a quantidade gerada nos quatro anos anteriores (que atingiu um pico de 16.978 gigawatts-hora em 2015).
A companhia de electricidade sul-africana Eskom é o maior cliente, com quase 71 por cento da energia vendida pela HCB. A empresa pública moçambicana Electricidade de Moçambique (EDM), absorve 24,5 por cento, e a companhiado ZimbabwéZESA 4,7 por cento.
No total, a HCB pagou ao Estado moçambicano cerca de 130 milhões de dólares em 2017, na forma de impostos, taxas e dividendos.
As finanças da HCB foram aliviadas pelo pagamento antecipado da dívida que o governo moçambicano incorreu com um consórcio bancário franco-português quando comprou uma participação maioritária da HCB ao Estado português em 2007.
O empréstimo de 700 milhões de dólares, que deveria ter sido amortizado com os lucros da HCB até Dezembro de 2017 – foi liquidado totalmente em Junho de 2016, ou seja 18 meses antes do prazo acordado entre as partes. (Macauhub)
Anadarko targets first half of 2019 for Mozambique LNG FID
Anadarko Petroleum expects to make a Final Investment Decision (FID) for its Mozambique LNG project in the first half of 2019.
Image courtesy of Anadarko
The Anadarko-operated Mozambique LNG project will be Mozambique’s first onshore LNG development, initially consisting of two LNG trains with total nameplate capacity of 12.88 MTPA to support the development of the Golfinho/Atum fields located entirely within Offshore Area 1.
The approval from the government of Mozambique for the Golfinho/Atum field development plan was received in March 2018.
Following the approval, during the second quarter of this year, Anadarko and its Area 1 co-venturers signed a Heads of Agreement with Tokyo Gas and Centrica for long-term LNG off-take of 2.6 MTPA.
In its report for the second quarter of 2018 releases on Tuesday, Anadarko said that it achieved significant advancements on the Mozambique LNG project, including new heads of agreements and expected cost reductions, with an anticipated Final Investment Decision (FID) during the first half of 2019.
Progress continues on converting the FID target off-take volume from non-binding commitments to long-term SPAs, Anadarko stated.
Al Walker, Anadarko Chairman, President and CEO, said: “Our Mozambique LNG project has made excellent progress, and we expect a Final Investment Decision in the first half of 2019.”
Additionally, the company and its contractors expect to realize substantial cost savings, with Anadarko now expecting to deliver the first two onshore liquefaction trains with 12.88 million tonnes per annum (MTPA) capacity for less than $600 per tonne.
Aandarko also said that recommendations for award of the offshore contractor and equipment providers are progressing through internal, co-venturer and Government of Mozambique approval.
Activities at the Afungi onshore site, including resettlement, continue to ramp up as Anadarko positions the onshore area for construction. Subsequent to quarter end, Area 4 joined the Anadarko-led Resettlement project as a 50% participant.
Coal-fired power project in Mozambique gets its wings
A new joint venture between two energy development companies may result in the potential development of a coal-fired power station in Mozambique.
This follows the signing of a joint venture (JV) agreement between Kibo Mining, the multi-asset Africa focused energy and resource company, and Mozambique energy company Termoeléctrica de Benga S.A. (Termoeléctrica) to form the Benga Power JV.
The JV agreement will allow both parties to participate in the further assessment and potential development of the Benga Independent Power Project (BIPP), including the right to construct and operate a 150-300 MW coal fired power station.
Kibo and Termoeléctrica shall hold initial participation interests in the unincorporated joint venture of 65% and 35% respectively.
The Benga Power JV is another step in advancing Kibo’s strategy to position the company as a leading regional energy player.
Subject to the successful outcomes of further and more detailed studies on the BIPP, Kibo Mining envisages being able to develop the BIPP in an expedited manner alongside its Mbeya Coal to Power project (MCPP) in Tanzania and the recently acquired Mabesekwa Coal Independent Power (Mabesekwa) project in Botswana.
The Benga Power JV will utilise Kibo’s experience in the advancement and development of power projects in the East African region and its strategic relationships with international development partners such as Sepco III and General Electric.
As the BIPP has similarities with the MCPP and Mabesekwa, it is envisaged that considerable benefits could be realised in any potential power station development, including economies of scale in equipment, execution and project finance.
Mozambique inaugura una planta eléctrica construida por TSK
El presidente Filipe Jacinto Nyusi presidió el acto de apertura de las instalaciones, con una capacidad mínima de 100 MWe y que incorporan una subestación para la evacuación de la energía
El presidente de Mozambique, Filipe Jacinto Nyusi, inauguró ayer la planta de generación de energía eléctrica construida por TSK -bajo la modalidad EPC (Engineering, Procurement & Construction)-, en la localidad de Ressano García, a unos 90 kilómetros de la capital del país, Maputo. El proyecto tiene una capacidad mínima de 100 MWe e incorpora una subestación, también construida por TSK, para la evacuación de la energía.
Según informa la compañía asturiana, la planta consta de 13 motores de la marca Rolls Royce, con una potencia unitaria de 9,335 MWe, lo que dará una potencia bruta de 121,355 MWe. Dichos motores serán alimentados mediante gas natural, suministrado por la compañía mozambiqueña Matola Gas, y tendrán una salida a 50HZ/ 11KV a las líneas de transporte y distribución de Electricidad de Mozambique (EDM).
La duración del proyecto, desde la ingeniería hasta la entrega, pasando por las fabricaciones, adquisiciones, logística de transporte, montaje, pruebas y puesta en marcha, fue de 20 meses, el plazo acordado entre las partes, que «se cumplió escrupulosamente». Además, TSK, como ampliación del contrato, llevará a cabo las funciones de operación y mantenimiento durante los próximos cinco años, ampliando así los servicios a sus clientes.
Al acto asistieron, además del presidente de la república africana, diferentes autoridades del país y directivos de las empresas locales Gigawatt -con su presidente Castigo Langa, a la cabeza- y WBHO, que participaron en el proyecto como promotores y constructores de la obra civil, respectivamente. TSK, por su parte, estuvo representada por el director general del área de Presidencia del grupo, José María González; el director de Plantas Industriales, Ignacio Lapuente, y el director de TSK-Sudáfrica, Rafael Lapique.
lunes, 8 de febrero de 2016
Anadarko, Mozambique Put Foot on Gas Exports as Iran Looms Paul Burkhardt @pburkhardtFebruary 4, 2016 — 10:26 AM CET
Mozambique and Anadarko Petroleum Corp. are racing to tap gas from one of the biggest discoveries in decades as a global glut looms.
After making its initial discovery six years ago in the Rovuma basin off Mozambique’s northern coast, Anadarko has yet to make a final investment decision on a $15 billion liquefied natural gas project. That decision may come this year as competition from U.S. and Iranian supplies intensifies in export markets, said state-owned partner Empresa Nacional de Hidrocarbonetos.
"Unless we speed the process, we could lose the opportunity," Omar Mitha, chairman of ENH, said in an interview at his office near the waterfront in the capital, Maputo. We are discussing with the government that this is the time “to get ready with all the contracts, the legal framework, the resettlement process,” the former deputy minister said.
With the International Monetary Fund projecting total LNG investment of more than $100 billion in Mozambique and the possibility of supplying gas to the domestic market, the discoveries have the potential to help transform one of the world’s poorest nations. While Woodlands, Texas-based Anadarko has joined oil majors in curbing investment as crude slumps, the company said on Tuesday that it hopes to conclude negotiations with the Mozambique government this year.
Friday’s meeting of the Central Committee of the ruling Front for the Liberation of Mozambique will consolidate the power of President Filipe Nyusi, providing an enabling environment for LNG development in the country, according to a Feb. 3 note from Eurasia Group. Mozambique’s longer-term trajectory over the next two years remains positive, Eurasia said.
Anadarko needs to finalize legal issues, including marine concessions that dictate ownership of the planned export jetty in Cabo Delgado province, and complete LNG offtake agreements before taking a final investment decision, John Peffer, the company’s manager in Mozambique, said in an interview.
“The key is to finish the legal and contractual framework as quickly as possible as this is a critical element in providing project certainty and securing long-term economic value,” Peffer said.
Project Differentiation
Anadarko, which owns 26.5 percent of the project, and its partners also need to get approval for resettling about 500 people at the project site, Peffer said. Displaced fisherman will be eligible for compensation, according to a draft of the plan. Despite pricing pressures as crude slumped to the lowest in more than a decade, the company remains confident about the prospects in Mozambique.
“The size of this asset, reservoir quality, distance to shore, proximity to the market, and continued progress with the government on the required legal and contractual framework will enable this project to differentiate itself and compete in today’s LNG market,” Peffer said.
Anadarko said on Monday that it plans to cut spending by almost half as it moves to recover from its worst year since spinning off from Panhandle Eastern Pipe Line Co. in 1986. The third-largest U.S. natural gas producer reduced its 2016 capital budget to about $2.8 billion, after reporting a net loss of $1.25 billion for the fourth quarter.
Development Plan
Anadarko and Eni SpA in December agreed on a plan to develop adjoining areas in the northern Rovuma basin, targeting a combined 24 trillion cubic feet of gas. Mozambique has attracted international energy companies to exploit huge gas finds that could help turn the country into the third-biggest LNG exporter in a decade.
ENH is also a minority partner in a gas-to-liquids plant proposed by Royal Dutch Shell Plc. The gas could be used for power plants, methanol and urea production, in addition to GTL, according to astudy prepared for the government.
Should a final investment decision be taken, the state-owned company would need to add lawyers and accountants, more than tripling its 160 employees, he said.
“That partnership is important because it’s an opportunity for ENH to go into the downstream industry and occupy the space along the value chain," Mitha said. “We’ll have to reshape our strategy, our plans, and fiercely fight for tapping new resources as well."
A feasibility study has been completed for the plant, which would be a “foundation project” for the domestic gas industry in Mozambique, according to a spokesman for Shell. Discussions are ongoing between Shell, ENH and the Mozambican government on the findings of the study, he said.
