Mozambique’s president Nyusi exonerates energy minister

Mozambique’s minister of mineral resources and energy Pedro Conceição Couto has been exonerated by presidential order.

Couto has been appointed to the position in January 2015, after serving a deputy finance minister from 2005 to 2015.

The office of the president, Filipe Jacinto Nyusi, has not given the reason for the decision in its statement.

The sacking comes amidst reported new developments during the recent months when it comes to natural gas resources discovered off Mozambique that are estimated at around 85 Tcf of natural gas.

Italian company Eni, that has already received the approval for its Coral FLNG project in Mozambique, was recently reported to have sold a multi-billion dollar stake in the planned Mozambique LNG project to ExxonMobil.

The U.S.-based energy giant is looking to grab the operating stake in the onshore LNG facility while Eni would keep hold of the control over the Area 4 gas fields.

Qatar Petroleum has also been reported to show interest in cooperating with Eni and ExxonMobil through a joint investment with the U.S. company.

LNG World News Staff