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refinery. Last month work also commenced on a the first phase of senior debt funding of $14.4bn.
similar project at the Ferghana refinery, Uzbeki- Other banks named included Standard Bank
stan’s other main oil processing plant. Group, Societe Generale and Rand Merchant
Tashkent’s goal is to produce more vehicle Bank.
and jet fuels, of higher quality, to help reduce As well as Total’s $20bn Mozambique LNG
its imports and make fuel shortages a thing of project, which aims to produce 12mn tpy of
the past. But the unanswered question is how LNG, ExxonMobil is developing the 7.6mn tpy
Uzbekistan will procure enough crude to run its Rovuma project in the African country. How-
refineries at full capacity. ever, only Total is close to FID, with Exxon delay-
ing any decision until 2021.
If you’d like to read more about the key events shaping Even though Japan’s LNG imports fell by
the former Soviet Union’s oil and gas sector then please 8.8% y/y in April to 5.13mn tonnes, because of
click here for NewsBase’s FSU OGM Monitor . the impact of COVID-19, LNG imports are of
long-term strategic importance to the country’s
Japan invests big in African LNG energy sector.
Japan has announced a $14.4bn investment drive
by some of the country’s leading energy develop- If you’d like to read more about the key events shaping
ers and financiers in Mozambique’s LNG poten- the global LNG sector then please click here for
tial, strongly suggesting that a group of private NewsBase’s GLNG Monitor .
and state banks have agreed to lend to Total’s
Mozambique LNG project. Downstream updates in Latin America
The headline deal, reported by the Nikkei at Officials in Aruba have confirmed that the search
the end of last week, is Mitsui & Co. and Japan for a new operator for the San Nicolas refinery, a
Oil, Gas and Metals National Corp.’s (JOG- 235,000 bpd plant formerly owned by Valero, is
MEC’s) ownership of a 20% stake in a 12mn tpy underway. Representatives of the Aruban gov-
project that will see the development of a gas ernment said last week that they had teamed up
field in the north of Mozambique, Japan’s Nikkei with state-owned Refineria di Aruba NV (RdA)
reported. to invite qualified bidders to participate in a two-
Four Japanese private banks – MUFG Bank, tiered request for expression of interest (REOI).
Mizuho Bank, Sumitomo Mitsui Banking and Potential investors have been asked to respond
Sumitomo Mitsui Trust Bank – will provide by July 17, they said.
most of the debt funding for the project, and Aruba’s government is also mulling offers
the state-owned Japan Bank for International from three companies interested in using the
Cooperation (JBIC) will supply $3bn in loans. San Nicolas refinery’s tanks to store crude oil and
The African Development Bank (AfDB) will also petroleum products. It has not identified any of
support the project, the report said. the bidders, but it hopes to sign a lease contract
The report in the Nikkei suggested that the with the winner of the tender by August 1.
money would support Total’s Mozambique LNG Meanwhile, KBR has agreed to supply
project, in which Mitsui & Co. and JOGMEC Uruguay’s state oil company Administracion
together hold 20%. Nacional de Combustibles Alcohol y Pórt-
Japan’s confirmation of the involvement of land (ANCAP) with technology for a refinery
its commercial banks as well as the state-owned upgrade project. Under a new contract with
JBIC is a good sign that Total will be able to ANCAP, the US-based oilfield services giant will
secure all its financing by the end of 2020. help Uruguay’s NOC upgrade the 50,000 bpd
In June, Total said it had reached an agree- Eduardo Acevedo Vázquez refining complex at
ment with a group that included 20 lenders for La Teja. KBR’s technology will allow the plant to

P8 www. NEWSBASE .com Week 27 08•July•2020