Tokyo Gas Group to Buy Natural Gas from Mozambique

Tokyo Gas Group to Buy Natural Gas from Mozambique

Tokyo Gas Group plans to buy natural gas from Mozambique in parallel with the group’s plan to diversify providers, Club of Mozambique reported.

Tokyo Gas Group’s CEO, Kentaro Kimoto, stated: “Currently we have 12 contracts with supply companies from different countries, but we are interested in the project in Mozambique in order to diversify suppliers who annually sell us 14m tons of natural gas.”

According to Macauhub, Mozambique’s Minister of Mineral Resources and Energy, Leticia Klemens, who is part of the delegation of President Filipe Nyusi, informed officials from the Japanese group about natural gas extraction projects in the Rovuma basin.

In related news, the presidential delegation met mid-March with officials from Japan’s Mitsui & Co, one of the shareholders of the Area 1 block of the Rovuma Basin, whose operator is the US group Anadarko Petroleum.

In addition to a 20% stake in the Area 1 block, the Mitsui & Co group is involved in negotiations with the Brazilian group Vale to acquire stakes of 15% in Mozambique’s Moatize coalmine and 50% of the Nacala Logistics Corridor.

The latest figures for this deal are from September 2016 when the Vale group announced new terms for the agreement originally signed in 2014, under which it will receive $768m from the sale of those stakes to the Japanese group.


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