The first cargo of African liquefied gas extracted from the ocean is traveling from the waters of Mozambique to the regasification plants on the Spanish coast. thanks to theEni, the director of a complicated operation on a technical level, but even more on a political one, which enhances the strategic qualities of the Six-legged dog, increasingly leaders in Africa on the energy front, from oil to LNG to renewables. But it also brings grist to the mill of the Bel Paese's credibility, among the most determined to focus on Mozambique, as demonstrated by the president's visit Sergio Mattarella from last summer. In summary: a point in Italy's favor on the eve of the G20 also dedicated to Africa.
Eni: mission accomplished in Mozambique, ExxonMobil and Total remain at stake
- Eni announced on Sunday the departure of the first shipment of liquefied natural gas from Mozambique. The gas is extracted from the Giant field of Coral South in the ultra-deep waters of the Rovuma basin controlled by a joint venture with a 70% stake in the project, led by the Italian group together with ExxonMobil and the Chinese Cnpc in which they participate, with shares of 10% also galp, Kogas e Enh.
- Coral South, with a gas liquefaction capacity of 3,4 million tons per year with a production capacity of 450 billion cubic meters of gas places Mozambique firmly in the world top ten of LNG. A precious commodity in the scenario ofRussian gas embargo. But not only.
- “This first load – said the managing director Claudio Descalzi – represents a new step in the strategy that leverages gas as a source capable of contributing to European energy security”. Without forgetting the goal of "supporting a fair and sustainable energy transition".
- The goal, at least for now, has been achieved. To begin with they were respect the times of the project: only 5 years after the signing of the contract, in line with the foreseen roadmap, despite the obstacles posed by the pandemic.
- But the Covid-19 was a minor inconvenience compared to the geopolitical problems faced in recent years by Mozambique, invested by the guerrilla warfare unleashed by Islamic extremists in the province of Cabo Delgado, the poorest of one of the poorest African regions, but also the potentially richest given the reserves of gas. Since 2010, the year of the gas discoveries, the Big Oils have signed agreements with Maputo, starting with the French TotalEnergie and the American ExxonMobil.
- La Islamist guerillas, which caused at least 4 victims, however forced the French company, which arrived first, to interrupt the construction of two liquefaction plants on the Afungi peninsula in March 2021. Same fate for Exxon Mobil programs. Despite strong support from the Rwandan military in Maputo over the past year, the region remains high-risk, to the extent that Exxon mining won't start before 2026
Eni in Mozambique scores an important success in the campaign in Africa
Unlike the other big Big Oils, Eni managed to meet the deadlines. A small miracle that rewards the know-how of the Six-legged dog both in the planning and execution phases, as well as the attention to relations with the Maputo top management. But, above all, it paid off for the choice to engage in deep water, sheltered from the pitfalls of guerrilla warfare on land. So far there are no reports of attacks by sea.
The result is a indisputable political success on the front of Eni's African campaign, a great protagonist from Algeria to the Republic of the Congo. But also a significant mortgage on the EU chessboard, the area most hungry for LNG after the split with Russia.
In fact, the policies of the various countries of the Community will be decisive for exploiting the results obtained by Eni. The first load of LNG, purchased by BP, not surprisingly headed for la Spain, the country with the largest number of regasification terminals. In the future, however, gas from Mozambique could go to theIndia, the nearest market, no less hungry for energy. Even the one that emerged thanks to the nose of a six-legged dog.
