PTTEP readies USD 1 bln investment in Mozambique project

PTT Exploration and Production (PTTEP) of Thailand made plans to invest $1 billion in a Mozambique project over a period of 6 years starting with 2015.

Chief executive Tevin Vongvanich told Reuters that the project aims to produce 10 million tons of LNG a year by late 2018 or 2019.

PTTEP acquired Cove Energy in 2012 gaining access to its 8.5 percent stake in the Rovuma basin license, offshore Mozambique.

LNG World News Staff, September 15, 2014