Mozambique to Grant More Gas Concessions

Mozambique will grant more natural gas concessions off its northern coast following major discoveries in recent years, the country's National Petroleum Institute told AFP.

Companies can start applying by the end of the year, INP administrator Carlos Zacarias said. The bidding will be effective from December until the middle of next year.

The areas open for acquisition are existing blocs in the deep water Rovuma basin close to the Tanzanian border in the north-east, as well in the Zambezi River Delta in the centre of the country, said Zacarias.

Around 130 trillion cubic feet of gas have been discovered so far, but this is barely half of what might eventually be extracted, authorities said in September.

Meanwhile, Business Line has reported, citing Abdul Razak Noormahomed, Vice-Minister of Mineral Resources, Mozambique, that the country is looking to set up the liquefied natural gas (LNG) plant by 2018. The country plans to set up two LNG trains which would entail an investment in the range of $18-$20 billion.