Marubeni Signs Memorandum of Understanding with Petróleos de Moçambique SA
Jan. 30. 2014
Marubeni Corporation (“Marubeni”), signed a Memorandum of Understanding with Petróleos de Moçambique SA. (Petroleum of Mozambique, “Petromoc”) for a study of manufacturing gasoline from methanol, at the Japan-Mozambique Investment Forum held in Maputo, Mozambique on January 12, 2014.
Mozambique is expected to emerge as a new gas-producing country. At present, however, the country relies entirely on gasoline imports due to a lack of crude oil production and oil refineries.
Marubeni has been jointly studying a project with Petromoc and Empresa Nacional de Hidrocarbonetos (Enterprise of National Hydrocarbon, “ENH”) to manufacture methanol from natural gas by possibly applying the technologies of Mitsubishi Gas Chemicals, Inc. and Mitsubishi Heavy Industries, Ltd. (“MHI”). The utilization of Japanese carriers, such as Mitsui O.S.K. Lines, LTD. which possesses the world’s largest share, is being considered for the international transportation of methanol for export.
The study, with the technical support from MHI, is to analyze the economics of manufacturing gasoline from methanol. If successful, the project would be revolutionary for Mozambique and open up the country’s gasoline supply.
Through this study, Marubeni will contribute to the economic development of Mozambique.
<Summary of Petróleos de Moçambique SA >
Location: Mapute, Mozambique
Employees: 551 (as of 2010)
Annual Sales: Mozambican Metical 11 billion (USD 370 million) (as of 2010)