Mozambican Gas Export Doubled in 2015
nsnbc : The export of Mozambican natural gas has doubled in 2015 to approximately 115.4 million giga-joules, announced the Mozambican Ministry of Mining Resources and Energy Production. The increased export is consistent with the potential to turn the south African country into the world’s 2nd largest exporter of Liquefied natural Gas by 2020.
The announcement was made by Mozambican Minister of Mining Resources and Energy, Pedro Couto, during the opening of a session of the Coordinating Council of the Ministry that convened on Tuesday and Wednesday last week.
Couto also announced that the production of natural gas had increased by 8% but added that the falling hydrocarbon prices on the global market have put a dent into commitments to exploration activities in the country.
Couto noted that negotiations were underway to begin the development of natural gas reserves discovered in the Rovuma basin and that the Ministry expects production to start between 2020 and 2021.
The chairman of Mozambican state oil and gas company ENH, Omar Mitha said recently that oil companies operating in Mozambique would invest US$31 billion in the coming years to begin exploration of the natural gas reserves discovered in the north of the country.
A survey from 2012 showed that Mozambique is poised to become the world’s second-largest exporter of Liquefied Natural Gas by 2020. Mozambique has, besides vast gas resources, one of the world’s largest, yet untapped coal reserves. The country also about doubled its export of coal to Brazil.
The Frelimo government aims at a balanced economic model that combines State control with free market mechanisms, investments in infrastructure to increase the quality of life of Mozambican citizens, and investment into a Sovereign Wealth Fund.
CH/L – nsnbc 21.12.2015