Pulse logo
Pulse Region

Anadarko to invest $25 billion in Mozambique gas project: govt

US energy firm Anadarko plans to invest $25 billion (22 billion euros) in developing offshore gas reserves in the north of Mozambique, the government said on Tuesday.
Mozambique's President Filipe Nyusi, pictured in May 2019, held a ceremony with Anadarko executives
Mozambique's President Filipe Nyusi, pictured in May 2019, held a ceremony with Anadarko executives

Anadarko is one of the global companies investing billions of dollars to exploit major gas reserves discovered off Mozambique's northeastern coast.

"This is the largest foreign direct investment in the history of our country," President Filipe Nyusi said at a ceremony with Anadarko executives.

The liquefied natural gas project Dolphin Tuna foresees an investment of $25 billion, the energy ministry said in a statement.

Annual production on the project is expected to start in 2024 with an estimated output of 12 million tonnes.

Recommended For You

Gigantic gas reserves were discovered at the beginning of the decade off the northern Cabo Delgado province of Mozambique.

Estimated at 5,000 billion cubic meters, they would make Mozambique a major exporter of liquefied natural gas (LNG).

Subscribe to receive daily news updates.