The Phase 1 development project for natural gas exploration in Area 1 in the Rovuma basin is expected to be completed by 2021, with a yearly output of 12 million tons.

According to the Chief Executive of Exploration and Production and President of PTTEP, Somporn Vongvuthipornchai (photo), out of the 12 million tons, 3.6 million tons of natural gas will be supplied to Thailand.

He said the launching of tenders for engineering design, procurement of materials and equipment as well as construction will commence shortly adding that the Area 1 project area in the future would be an important source of natural gas for Thailand.

Over 75 Tcf of recoverable natural gas has been discovered in the Offshore Area 1. This huge natural gas finds have the potential to transform Mozambique to be the world’s third-largest exporter of natural gas.

The president of ENH, Omar Mitha, has said that structural changes in the natural gas market globally as well as the entry of new producers and exporters, cannot stop Mozambique from making its entry into the market.

He added that the market is currently witnessing a period of oversupply compared to demand and statistics have revealed that demand and energy consumption will rise, as several countries are swapping more polluting energies with other cleaner options, especially natural gas, Macauhub reports.

Anita Fatunji