Mozambique: Botswana wants to strengthen cooperation in the energy sector
Mozambique expects natural gas reserves to double
12:57 CAT | 23 Oct 2017
File photo / Minister of Mineral resources and Energy Leticia Klemens
Mozambique believes that 13 years from now it may have discovered double the natural gas reserves identified today, putting the country in the global spotlight.
Minister of Mineral Resources and Energy Letícia Klemens says prospects for new discoveries are encouraging, and by 2030 the country is expected to know about twice the current 180 billion cubic feet found in the Rovuma basin off the north coast of Mozambique.
Speaking at an international conference on the production and consumption of liquefied natural gas in Tokyo, Japan, Minister Klemens said: “Our location is strategic for the Asian, Pacific and Atlantic markets,” and “increasing opportunities in the Middle East and the Indian subcontinent.”
“Mozambican gas is of excellent quality, which gives it a competitive advantage in terms of costs,” she added.
A consortium led by Italian oil company Eni announced its final decision to invest in the sea to the north of Mozambique in June, becoming the first major natural gas project to move into the implementation phase.
The floating extraction and liquefaction platform is under construction and the operation in Rovuma Area 4 is expected to start within five years.
The consortium announced the decision after securing the sale of all natural gas production for 20 years to British Petroleum.
Another consortium led by US-based Anadarko has said that it will soon announce its final investment decision in Rovuma Basin Area 1, a few kilometres further north.
Meanwhile, exploration activities to evaluate the commercial viability of further hydrocarbon deposits both offshore and on land continue.
Source: Lusa
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