The country emphasizing operational security and the resumption of projects following the crisis COVID-19 pandemic and insurgency uprising, Mozambique poised to play an important investment role during Africa Energy Week (AEW) 2021 in Cape Town. The Mozambique-focused dialogue will be led by the Mozambican Chamber of Oil and Gas (MOGC) – a non-profit organization focused on promoting the oil and gas industry in the upstream and downstream sectors. By sponsoring the Mozambican pavilion at AEW 2021 in Cape Town, MOGC is committed to positioning Mozambique as an energy leader in sub-Saharan Africa.
Mozambique is well positioned to exploit its significant gas reserves with demonstrated political will, appropriate security measures and a focus on the development, production and distribution of local content. With vast resources in its offshore zone-1 – estimated at 75 trillion cubic feet of recoverable natural resources – the MOGC stressed that the country has a major role to play in Africa’s energy sector. With a mandate to build industrial networks and support national companies through the certification of training and the transfer of knowledge and technologies, the MOGC focuses on assisting businesses and potential investors through the provision of resources and services and will generate opportunities to AEW 2021 in Cape Town.
The country’s oil and gas industry is expected to grow exponentially over the next decade after the discovery of more than 180 TCF of the natural gas reserves of the Rovuma basin. Opportunities in Mozambique’s oil and gas industry include the construction of up to six LNG factories, led by Total SA, which should start up over the next decade – of which the first two factories were the subject of a final investment decision (FID) in 2019, valued at $ 23 billion. The Afongi LNG Park is expected to go into production in 2024, with production destined for the Asian and European markets, with more than 400 million cubic feet set aside for home use. Co-led by Eni and ExxonMobil, announcement of an investment of $ 8 billion FID for the construction of six subsea wells connected to a floating liquefied natural gas production facility is expected to be completed in 2022. Each of these three opportunities has a land base in Afungi Park, which houses all supporting infrastructure, including including accommodation facilities, as well as port and airport infrastructure.
Mozambique’s natural gas has the potential to support massive economic growth and has attracted significant global investment. The government of Mozambique has earmarked part of its natural gas production for local use to meet national needs, with the National Petroleum Institution organizing tenders to identify opportunities for companies interested in developing industrial projects. local. By promoting the role of natural gas at the national level, as a foundation and catalyst for local capacity building and industrialization, as well as at the regional level, through improved intra-African trade, the MOGCThe Mozambique pavilion will focus on the role of gas in Africa’s energy and economic future.
Mozambique is home to the largest foreign direct investment project ever in Africa, Mozambique LNG, which is poised to contribute to long-term social and economic stability and provide a wide range of economic benefits to its communities. The project began with the discovery of a large amount of natural gas off the coast of Mozambique in 2010, which led to $ 20 billion FID in 2019. With the aim of uniting governments, oil and gas companies, financial institutions, service companies, marginal field producers, commercial banks and more, AEW 2021 represents the ideal networking and deal-making platform for all stakeholders in the African energy industry, and the Mozambique pavilion the best place to get valuable information about the emerging gas giant.
“The African Energy Chamber (AEC) is proud to welcome representatives from Mozambique’s energy industry AEW 2021. Mozambique, with the greatest potential for power generation in southern Africa, has substantial resources, ranging from fossil fuels to renewables. Overall, it has enormous potential, especially within its natural gas industry. Mozambique has the potential to lead Africa into a new era of energy success, using its natural gas resources as a key driver of Africa’s energy future. With the MOGC By sponsoring a Mozambique pavilion in Cape Town, the country’s lucrative investment opportunities, important project developments and market-oriented policies will be presented to the world, ”said Tomás Gerbasio, conference director for AEW 2021.
AEW 2021, in partnership with the South African Ministry of Mineral Resources and Energy DMRE, is the AECannual conference, exhibition and networking event. AEW 2021 brings together African energy players with international investors and partners to drive industry growth and development and promote Africa as a destination for energy investments.
Distributed by APO Group on behalf of the African Chamber of Energy.
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