{"id":472096,"date":"2021-06-15T12:54:42","date_gmt":"2021-06-15T12:54:42","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=472096"},"modified":"2021-06-15T12:54:42","modified_gmt":"2021-06-15T12:54:42","slug":"new-blow-for-mozambique-portuguese-galp-energia-suspends-its-gas-project","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/06\/15\/new-blow-for-mozambique-portuguese-galp-energia-suspends-its-gas-project\/","title":{"rendered":"New blow for Mozambique: Portuguese Galp Energia suspends its gas project"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>After the French group Total, it is the turn of the Portuguese Galp Energia (GALP.LS) to suspend its gas project in Mozambique for security reasons in the country.<\/p>\n<p>The partner of a gas consortium led by Exxon Mobil in Mozambique has said it will not invest in onshore plants until the authorities ensure security and social stability.<\/p>\n<p>This is a second setback in Mozambique&#8217;s hopes of developing a major liquefied natural gas (LNG) hub in the years to come. This after TotalEnergies (TOTF.PA) suspended its own separate LNG project in the country.<\/p>\n<p>Militant attacks in the Cabo Delgado region of northern Mozambique, near the $ 30 billion Rovuma liquefied natural gas project, have forced hundreds of thousands to flee the area.<\/p>\n<p>The Mozambican government has said it expects the consortium to make the final investment decision, already postponed from 2020 due to the coronavirus pandemic.<\/p>\n<p>Speaking on the matter, Galp Energia CEO Andy Brown said his company has not included investments in Rovuma&#8217;s onshore facilities in its net investment plan for the next five years.<\/p>\n<p>For now, he says, it will be difficult to establish a timetable for investment in this region.<\/p>\n<p>For his part, Exxon (XOM.N) spokesperson Todd Spitler said: &#8220;We continue to monitor security developments in the region&#8221;, adding that &#8220;the company is working with the government of Mozambique to enable the development of this world-class resource \u201d.<\/p>\n<p>Scheduled to start in 2024, the Mozambique LNG project will undoubtedly be very late due to the insecurity that reigns in this installation area.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>After the French group Total, it is the turn of the Portuguese Galp Energia (GALP.LS) to suspend its gas project in Mozambique for security reasons in the country. The partner of a gas consortium led by Exxon Mobil in Mozambique has said it will not invest in onshore plants until the authorities ensure security and<\/p>\n","protected":false},"author":536116,"featured_media":472097,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12032,12036],"tags":[18927,13323,18924,18925,18926],"class_list":{"0":"post-472096","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-commodities-en","8":"category-sectors","9":"tag-gas-project","10":"tag-mozambique-en","11":"tag-new-blow","12":"tag-portuguese-galp-energia","13":"tag-suspends","14":"post_format-post-format-aside","15":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New blow for Mozambique: Portuguese Galp Energia suspends its gas project - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, givemeaning to statistics. Our \u201cexaggerated pretensions\u201d inspire us. We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. 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We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. 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