- Global Markets: LNG Buyers in Asia Look to Resell Supply
- Global Oil & Gas: EU Rules on Methane Curbs May Boost LNG Industry - Exxon
- Global Oil & Gas: Venture Global Accused of Reneging on LNG Contracts for Europe
- Global Oil & Gas: Oil Unchanged as Market Struggles for Direction
- Energy Transition: Projections of peak oil, gas, and coal demand before 2030 deemed ‘extremely risky and impractical’
The Confederation of Mozambican Economic Associations (CTA), the main employers’ organization, defended yesterday that the country must prepare to absorb investments in gas production, signaling the creation of business opportunity for local business.
Speaking in Maputo during the “Conference on Gas Infrastructure Projects,” CTA Vice President Agostinho Vuma stressed that small and medium-sized Mozambican companies should be able to take advantage of the opportunities that will be generated by the gas industry.
“The findings made so far and publicized by the authorities indicate that Mozambique will be one of the largest resource producers in the world with an estimated volume of 100 trillion cubic feet of natural gas in the Rovuma Basin, whose estimated investment in infrastructure is in Around US $ 25 billion, “Vuma said. Expected investments in natural gas production, CTA vice president continued, will be almost twice Mozambique’s current Gross Domestic Product (GDP).
“Mozambican small and medium-sized enterprises are ready to structure themselves in order to respond to the requirements of ‘procurument` of large companies, specifically with regard to good practices,” added Agostinho Vuma.
In his turn, the permanent secretary of the Ministry of Mineral Resources and Energy of Mozambique, Alfredo Nampete, said that the Mozambican authorities are committed to creating conditions that allow natural gas to be a source of development for the Mozambican private sector and prosperity For the country.
“The Government will do everything in its power to ensure that natural gas competes for the industrialization of the country, private sector development and a source of prosperity for the population,” said Nampete.
In this sense, he continued, the executive has already negotiated with the gas production companies to allocate a portion of this resource to the domestic market, which will impose the need to build supply infrastructures.
A consortium led by Italy’s ENI, which includes Portugal’s Galp, announced at the end of last year an investment of more than eight billion euros in the construction of a natural gas production plant in the northern province of Cabo Delgado.
For its part, the consortium led by the US-based Anadarko will also be able to announce the final investment decision in Area 1, also in Cabo Delgado, where it holds a natural gas concession.(source: Lusa)