Risks that haunt the Rovuma gas

The International Monetary Fund (IMF) denounces huge risks in projects of Liquefied Natural Gas (LNG) of the Rovuma Basin, in terms of revenue collection and significant impact on the economy of Mozambique, due to the persistent fall of the price of gas on the international market, in a context of weak demand feature from emerging countries and increasing product supply from countries like the United States of America (USA) and Australia.

It is expected that multinationals take the final investment decision on gas from the Rovuma Basin, by this summer, so that by 2017,they start the construction of liquefaction platforms, in anticipation of the production and export of LNG in 2021.

An IMF document reveals that gas sales prices might fluctuate and fall below the assumptions used as reference by the consortia of the areas 1 and 4 of the Rovuma Basin. "A lasting global economic slowdown could trigger further declines in international gas prices. Furthermore, if the first decisions are postponed considerably for some reason and, in the meantime, other global projects of LNG surpasses most of the consumer demand for gas, sales prices could be lower and the budget revenue could be especially sensitive to falling gas prices, since most of the revenue is related to the profits of the projects, "says the document of the IMF.



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