 from Mozambique's vast new reserves, opening up supplies that could help ease Europe's energy crunch. The first export shipment to set sail was hailed as a milestone for one of Africa's poorest nations, where huge offshore deposits were found more than a decade ago. The consignment left the offshore Coral Sul plant, managed by Italian company Eni, in an LNG tanker called British Sponsor bound for an unnamed European destination. BP has a long-term deal to buy 100 per cent of the LNG output from the plant, which has the capacity to produce up to 3.4 million tonnes per year. Vladimir Putin's invasion of Ukraine and the resulting disruption of Russian supplies to Europe have set off a race for gas supplies from elsewhere and renewed attention on Mozambique's deposits. The 2010 discovery of large reserves in the Rovuma Basin off the coast of northern Mozambique attracted attention from energy giants including Total and ExxonMobil. But a bloody Islamist insurgency halted their projects after militants linked to the notorious Islamic State group overran the area. Total's $20bn project in the Afungi Peninsula is still on hold, while Coral Sul's more secure offshore location has allowed it to continue setting up. BP said: 'The start of production at the facility comes at an important moment, as LNG plays a key role supporting energy security.' Europe's LNG markets are bracing 'themselves for a winter of unprecedented uncertainty of supply', because of sanctions in response to Russia's invasion of Ukraine, the International Energy Agency has warned. A complete shutdown of pipeline flows to the European Union cannot be ruled out. Eni's chief executive, Claudio Descalzi, said the new supply source 'can contribute in a significant way to Europe's energy security, also through the increasing diversification of supplies, while also supporting a just and sustainable transition'. Oil and security sources believe the situation in nor){kind=link}
Country’s vast northern deposits to provide shiploads of energy to starved Europe
BP has begun shipping liquefied natural gas (LNG) from Mozambique’s vast new reserves, opening up supplies that could help ease Europe’s energy crunch.
The first export shipment to set sail was hailed as a milestone for one of Africa’s poorest nations, where huge offshore deposits were found more than a decade ago.
The consignment left the offshore Coral Sul plant, managed by Italian company Eni, in an LNG tanker called British Sponsor bound for an unnamed European destination.
BP has a long-term deal to buy 100 per cent of the LNG output from the plant, which has the capacity to produce up to 3.4 million tonnes per year.