Mozambique Oil & Gas: Country to get US$160 billion from gas operations by 2040 – Government

Mozambique’s Deputy Minister of Mineral Resources and Energy, Augusto de Sousa Fernando, said that the country would earn US$160 billion over the next 20 years from the exploitation of natural resources.

Speaking at the International Gas Cooperation Summit (IGCS) held in Durban this week, he said the government “estimates that it will receive US$160 billion over a 20-year period through investments in gas energy infrastructure, and the economy is due to accelerate rapidly”.

Statements quoted by the South African website Business Report indicate that “demand for natural gas has been increasing since 2004”, and that “this is one reason we are developing a gas pipeline between Mozambique and South Africa”.

The country, he concluded, had an opportunity to benefit from the development of liquefied natural gas in the future by joining other countries in the region, which would help stimulate the economy and create new jobs.

Mozambique may become, together with Qatar and Australia, one of the world’s largest oil exporters following investments being made by major global oil companies.

Source: Lusa