Page 5 - GLNG Week 05 2022
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GLNG COMMENTARY GLNG
because of ASWJ offensives, and some towns with a capacity of 6.44mn tonnes per year (tpy).
in Cabo Delgado are still virtually abandoned,
with no access to public services. Downstream expansion
Pouyanné said on January 31 that he would Also on January 31, TotalEnergies announced
like to visit some of the hardest hit sites, includ- plans to expand its downstream business in
ing the port of Mocimboa da Praia and Palma, Mozambique by acquiring a package of assets
the town closest to the LNG plant, the next time from BP. The assets in question include 26 retail
he visited Mozambique. He did not say when filling stations, a wholesale fuel business that has
such a visit might occur. a portfolio of business customers and a 50% stake
Work at the construction site has been sus- in Samcol, the logistics company that operates
pended since late March of last year, when the Beira, Matola and Nacala petroleum prod-
TotalEnergies declared force majeure in uct import terminals. The French major already Work at the
response to deteriorating security conditions in owns the other half of Samcol, so the deal will
Cabo Delgado. boost its stake to 100%. construction
The French major is leading the Mozam- The value of the acquisition, which will make site has been
bique LNG consortium through its subsidiary TotalEnergies the leading retail petroleum
Total E&P Mozambique Area 1, which holds a product seller in Mozambique, has not yet been suspended since
26.5% stake. Meanwhile, remaining equity in disclosed. TotalEnergies is already active in the
the project is split between two Japanese com- Mozambican downstream market, where it late March of
panies, Mitsui and Japan Oil, Gas and Metals operates 57 filling stations and has its own active
National Corp. (JOGMEC), which have a com- portfolio of business customers. last year, when
bined stake of 20%; Mozambique’s national “This agreement reflects TotalEnergies’ will- TotalEnergies
oil company (NOC) ENH, with 15%; Bharat ingness to pursue its investments in Mozam-
Petroleum (India), with 10%; ONGC Videsh Ltd bique’s energy sector in order to deploy our declared force
(OVL) (India), with 10%; Beas Rovuma Energy multi-energy strategy in the country through
Mozambique (a 60:40 joint venture between retailing of petroleum products for mobility, the majeure.
OVL and Oil India Ltd, or OIL), with 10%; and major Mozambique LNG project and accompa-
PTTEP (Thailand), with 8.5%. nying supply of domestic gas, and opportunities
The partners aim to extract gas from Area under review in the area of renewable energies,”
1, which lies offshore Mozambique within the Pouyanné said, hailing the acquisition deal.
Rovuma basin. They will process the gas at the “Our ambition with all this is to contribute to
LNG plant on the Afungi Peninsula. The facility the country’s sustainable development and give
will eventually have two production trains, each access to energy to as many people as possible.”
Week 05 04•February•2022 www. NEWSBASE .com P5
