Mozambique’s government will permit the construction of a liquefied natural gas terminal in Palma, in the country’s north, the Lusa news agency reports.
The terminal is important part of an infrastructure network that will allow the export of natural gas from offshore fields that are being developed with the participation of China National Petroleum Corp.
This week’s agreement sees the Mozambique government permitting Mozambique LNG Marine Terminal Company SA to construct, install, hold, finance, manage and operate the terminal.
Also approved was the installation of the material offloading facility where gas is transferred to ships.
The gas project is financed by three Chinese banks: Bank of China, the China Development Bank Corp. and the Industrial and Commercial Bank of China Ltd.
