Mozambique Aims to Hike Stake in Gas Fields

Empresa Nacional de Hidrocarbonetos (ENH), Mozambique’s national oil company plans to increase its stake in natural gas fields operated by Anadarko Petroleum Corp and Eni, news agency Bloomberg reports.

The moves comes as the East African nation seeks a greater share of profit from the recent gas discoveries.

“We are trying to see how we can increase our participation in the projects,” Empresa Nacional de Hidrocarbonetos’ Director of Engineering and Projects Engineering Paulino Gregorio told Bloomberg in an interview in the capital, Maputo. “Of course, we have financial constraints.”

ENH holds 15 percent of the Rovuma-1 deposit operated by Anadarko and 10 percent of four Eni fields.

Mozambique plans to build four LNG units with a total capacity of 20 million metric tons a year by 2018, adds Bloomberg.

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