Mozambique is emerging as a key player in the global liquefied natural gas (LNG) market, thanks to its immense energy potential, which will be widely discussed at the "Invest in African Energy" (IAE) 2024 forum in Paris, on 14 and 15 May. This event seeks to attract more investment to the African energy sector, with Mozambique in the spotlight because of its significant natural gas reserves, which are the third largest in Africa, exceeding 100 trillion cubic feet.
The country has already attracted the interest of investors from around the world, including the Nigerian company Aiteo, which recently acquired an operating stake in the Mazenga gas block. Mozambique currently has three approved development projects in the Rovuma basin, two of which plan to process natural gas for export in liquid form.
One of these projects is led by TotalEnergies, in the Area 1 consortium, whose work was suspended after an armed attack in March 2021, with the company stating that it would resume only when security conditions were guaranteed. Another project, with no start date yet announced, is led by ExxonMobil and Eni in the Area 4 consortium.
The third, and smallest, also belonging to the Area 4 consortium, is a floating platform for capturing and processing gas directly at sea, which began operating in November 2022.
This forum in Paris represents a crucial opportunity for Mozambique to highlight its role in the global energy market and attract more investment to exploit its vast LNG potential, contributing to the country's economic development and to the diversification of energy supply worldwide.
