Regulatory Alerts2014-12-02
Decree-Law No. 2/2014 of December 2 Establishing the Special Legal and Contractual Regime Applicable to the Liquefied Natural Gas Project in Areas 1 and 4 of the Rovuma Basin
The Mozambican Council of Ministers issued Decree-Law No. 2/2014 to establish a special legal and contractual regime governing the Liquefied Natural Gas Project across Areas 1 and 4 of the Rovuma Basin. The legislation mandates the creation of Specific Purpose Entities, unifies straddling petroleum reservoirs between concessionaires, and requires comprehensive development plans that integrate local content acquisition, workforce training, and socio-economic benefits. Furthermore, it streamlines government approval procedures for contracts and sales while safeguarding existing concession rights and ensuring state participation through the National Hydrocarbons Company.
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