Focus on Mozambique: Unlocking resources to advance economic growth
Source：ESI Africa
From：Mozambique
Update Time：2024/01/20
Mozambique remains a global spotlight as a leading and growing regional energy hub and building on its vast natural gas wealth discoveries it is well on its way to becoming a major player in the global energy market.
In a world in which diversifying energy supply chains is a priority, Mozambican natural gas is a much sought-after source with renewed optimism in the positive progression of current and future large-scale projects including the much-awaited revival of the multi-billion-dollar TotalEnergies’ LNG project and ENI's planned second floating LNG project.
Clean energy infrastructure is being developed in the country including the $4.5 billion hydroelectric mega-dam, Mphanda Nkuwa, a 1,500MW power project as well as other hydro, solar and wind power projects.
In addition, the exploration and expansion taking place in the mining sector due to an energy transition-driven price surge for its graphite, bauxite, lithium, tantalum, and titanium among others, are all shaping the country into an even more attractive international investment destination.
Mozambique, located in Southeast Africa, has emerged as a significant player in the global natural gas sector due to its substantial offshore natural gas reserves. These reserves are primarily located in the Rovuma Basin, off the country's northern coast. The discovery of these reserves, estimated to be among the largest in the world, has positioned Mozambique as a potential major exporter of liquefied natural gas (LNG).
The development of Mozambique's natural gas resources is expected to transform the country's economy. The exploration and production of these reserves have attracted international investments and partnerships, with several global energy companies involved in the development of LNG projects. These projects aim to tap into the vast reserves to meet both domestic energy needs and global demand, particularly in Asia and Europe.