Saipem CFO expects Mozambique LNG work to resume next year

Italian contractor Saipem expects work on the giant $20 billion Mozambique LNG project to resume around mid-2022, according to its finance chief Antonio Paccioretti.

To remind, TotalEnergies declared force majeure on the LNG project earlier this year following new attacks near the Afungi plant site.

The project’s EPC contractor is CCS JV, a venture between Saipem, McDermott, and Chiyoda.

Paccioretti told analysts during a conference call last week that in order to reach the company’s revenues target next year “we also have to consider the contribution of Mozambique.”

As of September 30, the giant LNG project remains in Saipem’s backlog for an amount of about 3.6 billion euros ($4.15 billion), he said.

TotalEnergies said in April this year the Mozambique LNG project would be delayed for “at least one year.”

The energy giant had previously expected to launch the project in 2024. Mozambique LNG includes the development of offshore gas fields in Mozambique’s Area 1 and a 12.8 mtpa liquefaction plant at the Afungi complex.

Also, the project will have a fleet of dedicated LNG carriers.

Besides Total, other partners in the project are Japan’s Mitsui, Mozambique’s ENH, Thailand’s PTT, and Indian firms ONGC, Bharat Petroleum, and Oil India.

Most Popular

Excelerate’s FSRU arrives in Germany

Excelerate’s 138,000-cbm FSRU Excelsior has finally arrived in Germany, where it will start serving DET's second LNG import terminal in Wilhelmshaven.

Woodside assessing tariff impact on Louisiana LNG

Australian LNG player Woodside is assessing the impact of recent US tariffs and other trade measures on its Louisiana LNG project, according to Woodside CEO Meg O’Neill.

Chevron: production at first Wheatstone LNG train reduced due to maintenance

Production at the first liquefaction train of Chevron's Wheatstone LNG plant near Onslow has been reduced due to maintenance, a Chevron Australia spokesperson told LNG Prime on Tuesday.

More News Like This

TotalEnergies inks initial Dominican LNG supply deal

France's TotalEnergies has signed a heads of agreement with ENADOM, the joint venture between AES Dominicana and Energas in the Dominican Republic, to supply liquefied natural gas (LNG) to the latter.

TotalEnergies: average LNG price up in Q1

French energy giant TotalEnergies, one of the world’s largest LNG players, reported a rise in its average price for equity liquefied natural gas sales in the first quarter of this year.

NextDecade, TotalEnergies seal 20-year LNG SPA

French energy giant TotalEnergies has exercised its option to buy liquefied natural gas (LNG) from the planned fourth train at NextDecade's Rio Grande LNG facility in Texas.

India’s ONGC approves Mozambique LNG investment

India’s state-run ONGC has approved an investment by its unit, ONGC Videsh, into the TotalEnergies-led Mozambique LNG joint venture, which is developing a 12.8 mtpa liquefaction plant at the Afungi complex.