Thu. Jun 13th, 2024

Japan to Increase Investment in Mozambican Gas

Japanese Prime Minister, Fumio Kashida, and Mozambican President, Filipe Nyusi, have agreed to support investment towards natural gas projects in the Southeastern African nation as the country aims to develop its giant offshore projects.  

Having met President Nyusi on 4 May during the final leg of his tour of four African countries, Prime Minister Kishida agreed to help Mozambique resume the TotalEnergies-led Mozambique liquefied natural gas (LNG) project while incentivizing Japanese investor to participate in natural gas development.

Tokyo-based trade company, Mitsui & Co., holds a 20% stake in the $20 billion LNG project, and with construction work on the project having been halted due to security threats in Mozambique’s northern regions,

Prime Minister Kishida reiterated that, “Our country will implement assistance to help restore stability of the local area. Security is crucial for the operations of Japanese companies in northern Mozambique. Japan will financially support the fight against terrorism.”

With both countries serving as non-permanent members of the United Nations Security Council, Japan and Mozambique have pledged to cooperate on counter-terrorism strategies while supporting efforts to resume construction of production facilities at the LNG development project.

As such, the Government of Mozambique recently announced that it will receive maritime surveillance equipment and a ship worth approximately $830,000, donated by Japan’s Government.

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