Mozambique Could Earn $10bn from LNG Production

Mozambique may generate annual revenues in excess of $10 billion from production of LNG.

According to the Minister of Mineral Resources, Esperanca Bias there is enough gas reserves in the country for the construction of four LNG production units onshore “with a total annual production capacity of 20 million tonnes, which could represent annual revenues of more than ten billion dollars”.

Speaking on Wednesday Bias said that so far reserves of more than 95 trillion cubic feet of natural gas have been discovered in Offshore Area One of the Rovuma Basin, off the Cabo Delgado coast, and a further 75 trillion cubic feet in the neighbouring Area Four, Mozambique News Agency reported.

She announced that the government is drawing up a Gas Master Plan with the aim of laying down guidelines for efficient use of use that would benefit all stakeholders of the society.