Mozambique 16 June 17: More gas in the pipeline
Good afternoon. South Africa appears to be taking the prospect of a gas pipeline from the Rovuma Basin seriously, with the Johannesburg-headquartered Development Bank of Southern Africa ready to fund a feasibility study into such a project.
SEE: DBSA to support feasibility study into Rovuma – South Africa pipeline
It would continue a tradition of Mozambican gas finding a market in South Africa, but Mozambique has also managed over time to become a consumer of more and more of that gas. One example is the Sasol-EDM gas-fired power plant at Ressano Garcia, which the Mozambican company is now refinancing.
SEE: Mozambique electric co secures $200 million for gas-fired power plant refi
Eni today launched a tender to procure another drillship to do more drilling in Area 4, where the Coral South FLNG is already moving ahead. Eni CEO Claudio Descalzi promised that project would just be the ‘appetizer’ - and the company is clearly not wasting time in getting other projects moving.
SEE: Eni seeks new drillship for Mozambique offshore block
Commodity exports dominated our news in the second part of this week, with Gemfields reporting a record-breaking auction of rubies in Singapore - as the company itself becomes the object of a bidding war.
SEE: Mozambique rubies set new revenue record for sought-after Gemfields
There was good news for Mozambique’s coal miners, too, who could have another option to get to the coast if the Moatize-Macuse rail and port project goes ahead. Mota Engil confirmed this week that it and a Chinese company had been handed the construction contract.
SEE: Sino-Portuguese JV signs $2.4bn Mozambique port and railway deal
And finally, Zitamar reported today on a new academic study that found Mozambican migrant workers - principally miners in South Africa - were able to keep their sons in school longer than if they hadn’t been to work abroad. The cash remittances did not have the same effect for girls, however.
FREE TO READ: Mozambican migrant remittances keep sons in school, new study finds
Have a great weekend.
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Mozambique rubies set new revenue record for sought-after Gemfields
Mozambican migrant remittances keep sons in school, new study finds
Mozambique electric co secures $200 million for gas-fired power plant refi
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