Saturday, September 21, 2013

Natural gas exploration in Mozambique expected to provide annual revenues of US$10 billion

Natural gas production by countries (Romania i...
Natural gas production by countries (Romania in red) in cubic meters per year (Photo credit: Wikipedia)
September 6th, 2013 - Macau Hub 

Exploration of the natural gas found in the Rovuma basin in northern Mozambique, may bring in annual revenues of over US$10 billion, the Mining resources Minister, Esperan├ža Bias said.

The minister noted that so far over 75 trillion cubic feet of gas had be found in Area 4 and another 95 trillion cubic feet of natural gas had been found in Area 1 and added that a plan was being drawn up for its extraction and processing.

According to the minister, who was speaking at the opening session of the Coordinating Council for her ministry, the four natural gas processing units, which will have a combined capacity of 20 million tons, would provide annual revenues of over UUS$10 billion.

Bias also said that the natural gas found so far, which makes Mozambique one of the top 10 countries with most natural gas reserves, would allow for installation of additional gas liquefaction units and other industries that use natural gas as a raw material.

The minister also said that the government was drawing up a Natural Gas Master Plan which, as well as outlining and identifying potential for the resource, would establish which were the best ways of using it to maximise its benefits for Mozambique.

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