Home to some of the largest gas reserves globally, Mozambique is spearheading several large-scale, integrated LNG developments targeting global exports, increased power generation and industrial growth. The country’s Minister of Mineral Resources and Energy Carlos Joaquim Zacarias will speak on Mozambique’s current gas megaprojects and more at the upcoming African Energy Week (AEW): Invest in African Energy conference in Cape Town, reflecting a continent-wide shift toward gas exploration and monetization.
Mozambique’s oil and gas sector has garnered international interest due to its world-class offshore natural gas reserves in the Rovuma Basin. Since their discovery over a decade ago, the country has attracted large-scale investment from IOCs including TotalEnergies, ExxonMobil and Eni, which have been central to its ambitions of becoming a major LNG exporter. Eni’s 3.4-MTPA Coral South Floating LNG (FLNG) project, which began production in late-2022, marked the country’s entry into LNG exports, with a second, 3.37-MTPA Coral Norte FLNG facility now underway. Minister Zacarias will weigh in on Mozambique’s potential to become a major supplier to growing markets in Asia and Europe, as well as its role in energy transition, security and diversification in several regions.
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Meanwhile, TotalEnergies’ 13-MTPA Mozambique LNG project – the country’s first onshore LNG development and one of the largest foreign investments secured to date – aims to resume construction this year, following delays due to security concerns in the Cabo Delgado region. The majority of LNG produced will be exported to international markets, while other projects like the Temane gas-to-power plant, set to come online in 2025, will cater to the domestic market. ExxonMobil’s 18-MTPA Rovuma LNG project remains in the pre-FID phase, but made progress earlier this year, with the supermajor launching several tenders for FEED for gas gathering and subsea works. These megaprojects, when operational, are expected to boost Mozambique’s GDP and establish LNG as the cornerstone of its economy for decades to come.
Minister Zacarias is also expected to discuss the country’s growing mining sector, which plays a pivotal role in its economy. Mozambique is one of the top producers of graphite globally, with vast reserves primarily located in the northern Cabo Delgado region, and supplies a significant portion of the world’s graphite used in electric vehicle (EV) batteries and other industries. Earlier this month, the Indonesian government expressed interest in collaborating with Mozambique in the production of EV batteries, set to facilitate job creation and value-added activities.
“We are honored to welcome Minister Zacarias to AEW: Invest in African Energy 2024, with Mozambique’s energy potential transforming not only its own economy, but also contributing to energy security and growth across the continent. The country’s commitment to harnessing its gas resources aligns with the African and global energy transition, bridging the gap toward cleaner energy sources while generating direct jobs and export revenues in the process,” said NJ Ayuk, Executive Chairman of the African Energy Chamber.
Distributed by APO Group on behalf of African Energy Chamber.
