Natural gas is the fuel of the future in Africa. A low-carbon and widely available resource, gas has the potential to not only drive industrialization and economic growth across the continent but accelerate the transition to a clean energy future. For countries such as Mozambique, which already represent a sustainable energy market in their own right, gas is poised to transform the economy, positioning the country as a globally competitive energy market and formidable powerhouse.
During this year’s edition of the African Energy Week (AEW) conference and exhibition – Africa’s premier event for the energy sector – Mozambique’s Minister of Mineral Resources and Energy Carlos Zacarias will deliver a keynote address while participating in a suite of panel discussions and Ministerial forums centered on fostering collaboration, attracting investment and forging a future of prosperity in Africa.
Mozambique has successfully managed to exploit its resources for decades, prioritizing an enabling environment under efforts to attract investment and drive long-term developments. While progress has been made to develop onshore hydrocarbon acreage and renewable energy resources, the country requires significant more investment to unlock the full potential of its resources. Under the leadership of individuals such as Minister Zacarias, Mozambique is well on track to transform its economy, using gas as a catalyst for sustainable growth.
In recent years, Mozambique has taken the stage as one of the most attractive markets for offshore hydrocarbon exploration. Following the discovery of trillions of cubic feet of resources in the Rovuma Basin, several major Liquefied Natural gas (LNG) developments kicked off, with the Ministry of Mineral Resources and Energy and the National Oil Company Empresa Nacional de Hidrocarbonetos (ENH) working closely with international energy companies to monetize resources. Developments include the Eni-led $8.6 billion Coral South Floating LNG project – which achieved first LNG cargo in August 2022 -; the ExxonMobil-led Rovuma LNG Liquefaction Plant; and the TotalEnergies-led offshore Area 1 Development. The projects have a capacity to produce 3.4 million tons per annum (mtpa), 12 mtpa and 13-15 mtpa, respectively, paving the way for a new era of energy security for the southern African community.
Mozambique already supplies energy to the southern African region, with the country’s onshore Pande and Temane fields providing South Africa with much-needed gas via the 865km-long ROMPCO pipeline and the 2,075 MW Cahora Bassa hydroelectric project supplying neighboring Zimbabwe, Zambia and Tanzania with power. The country has plans to increase its renewable energy capacity, capitalizing on untapped solar and hydro to become a regional leader in sustainable energy solutions. With the introduction of LNG, this agenda will be made even more possible, and AEW 2023 will serve as a launchpad for the Government to attract new investment into the promising gas and renewable energy industries.
“Mozambique is one of the hottest gas plays on the continent. Already a leader in renewable energy developments, the country has been making steady progress with monetizing its significant offshore gas resources. Coral Sul has been a record success and we hope to see the other large-scale LNG developments get back on track,” states NJ Ayuk, Executive Chairman of the AEC.
During this year’s AEW 2023 conference, Minister Zacarias will engage with a strong slate of regional governments and global investors on critical topics such as Africa’s gas future, sustainable opportunities and growing investment prospects. An Invest in Mozambican Energies session – sponsored by ENH – is also taking place, providing potential investors and project developers with first-hand insight into Mozambique’s wealth of investment opportunities. The session features discussions on the challenges and opportunities in the country while providing delegates the chance to engage with national leaders and energy experts. Minister Zacarias will lead discussions during the session.
Distributed by APO Group on behalf of African Energy Chamber.
About African Energy Week:
AEW is the AEC’s annual conference, exhibition and networking event. AEW 2023 will unite African energy policymakers and stakeholders with global investors to discuss and maximize opportunities within the continent’s entire energy industry. For more information about AEW 2023, visit https://AECWeek.com