TotalEnergies targets FID on Matola LNG by Sept 2024 (updated)

Sasol

25/10/2023 07:54

(Adds quote)
       CAPE TOWN, Oct 25 (Reuters) - French energy company
TotalEnergies  TTEF.PA  expects to take a final investment
decision (FID) on a planned greenfield LNG import terminal at
Matola port in Mozambique by September next year, a spokesperson
said on Wednesday.
    TotalEnergies is partnering with South Africa's
privately-held Gigajoule and Mozambican entities to develop the
terminal, seen as vital to supply South Africa with gas, at an
estimated cost of $550 million.
    The liquefied natural gas (LNG) terminal will receive
shipments of gas to a permanently moored floating storage and
regasification unit in Matola harbour, close to Mozambique's
capital Maputo, although delays in finalizing gas purchase
agreements has caused its development to be pushed back.
    "Matola LNG aims to provide primarily power to South Africa
which faces serious energy issues with recurrent loadsheddings
(power cuts) and whose current power generation comes from
coal-fired power plants," a spokesperson for TotalEnergies said
in an emailed response to questions.

 (Reporting by Wendell Roelf; editing by Jason Neely and David
Evans)
 ((wendell.roelf@thomsonreuters.com; +27 21 461 3523;))