Reuters: Mozambique to use gas to build industrial base, LNG exports

Mozambique plans to take advantage of massive gas reserves to develop domestic industries as well as export liquefied natural gas, boosting government revenue by $6-$8 billion a year, the latest draft of its master plan showed.

Some 150 trillion cubic feet of gas have been found off its shores so far, enough to supply Germany, Britain, France and Italy for 15 years, and the government and companies scouting wells have estimated there may be potential to double that estimate.

Oil majors including Italy's Eni and the U.S.'s Anadarko Petroleum are pushing for the development of LNG plants first as the quickest way to pay off investments in gas production.

But while exports will be prioritised and production deals are expected to be signed next year, the government hopes other downstream developments will come soon after. MORE