Mozambique’s ENH expects gas project financing in Sept

Mozambique’s state-run oil and gas firm, ENH, expects to sign a $2 billion financing contract in September according to the company’s chairman, Omar Mitha. Mithá spoke about the loan during an open class for undergraduate, master’s and doctoral students in the area of Natural Sciences and Mathematics at Maputo University.

Last month ENH said it would wait for better market conditions to finance itself on international markets, as it will need a state guarantee.

“We believe the government will wait until a possible restructuring of the issuance of Eurobonds [of tuna company Ematum] can be announced, which would improve the conditions currently required of ENH,” said a recent report on Mozambique by the Economist Intelligence Unit (EIU).

 

Source: Petroleum Africa

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