JGC Secures $6.33 Billion LNG Plant Project in Mozambique
A consortium led by JGC has finalized a $6.33 billion agreement to construct a floating LNG facility off Mozambique's coast. This project comes amid renewed interest in LNG due to increasing demand from emerging markets despite current low fuel prices.
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JGC will oversee the planning, procurement, and construction of a floating LNG platform, part of a $6.33 billion deal. The facility, expected to produce 3.4 million tons of LNG annually, is scheduled to commence operations in the early 2020s.
Partners include Eni, China National Petroleum, and Korea Gas, with BP committing to purchase all produced gas for 20 years. This marks JGC's first LNG project since 2013. The Mozambique site presents advantages over onshore plants, reducing infrastructure challenges. As gas development in East Africa expands, the region may emerge as a significant LNG exporter, similar to Qatar and Australia.
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