MOZAMBIQUE is setting its sights on becoming a trailblazer in Africa’s energy transition by capitalising on its vast natural gas reserves. At this year’s African Energy Week (AEW) conference, Mozambique aims to showcase its commitment to a sustainable energy future and attract global investment in its burgeoning energy sector.
Mozambique’s Minister of Mineral Resources and Energy, Carlos Zacarias, will play a pivotal role at AEW 2023. He is set to deliver a keynote address and participate in panel discussions and ministerial forums, all geared towards fostering collaboration, attracting investments, and steering Africa towards a prosperous energy future.
Over the years, Mozambique has diligently created an enabling environment to attract investment and drive long-term development. While the nation has made significant strides in developing onshore hydrocarbon acreage and renewable energy sources, it still requires substantial investments to unlock the full potential of its resources. Under Minister Zacarias’s leadership, Mozambique is well-positioned to transform its economy, utilizing natural gas as a catalyst for sustainable growth.
In recent years, Mozambique has gained recognition as one of the most attractive markets for offshore hydrocarbon exploration. This reputation stems from the discovery of vast reserves in the Rovuma Basin, which has prompted major Liquefied Natural Gas (LNG) developments. These projects, including the Eni-led Coral South Floating LNG project, ExxonMobil’s Rovuma LNG Liquefaction Plant, and TotalEnergies’ offshore Area 1 Development, have a combined production capacity of millions of tons per annum. These developments are paving the way for enhanced energy security in southern Africa.
Furthermore, Mozambique already supplies energy to the southern African region through its onshore Pande and Temane fields, which provide gas to South Africa via the extensive ROMPCO pipeline. Additionally, the 2,075 MW Cahora Bassa hydroelectric project supplies power to neighbouring Zimbabwe, Zambia, and Tanzania. Mozambique has ambitious plans to expand its renewable energy capacity, tapping into untapped solar and hydro resources to become a regional leader in sustainable energy solutions. The introduction of LNG will accelerate these efforts, and AEW 2023 serves as a platform to attract new investments into Mozambique’s promising gas and renewable energy industries.
NJ Ayuk, Executive Chairman of the AEC, affirms, ‘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 monetising 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.’
During AEW 2023, Minister Zacarias will engage with regional governments and global investors on critical topics, including Africa’s gas future, sustainable opportunities, and growing investment prospects. An Invest in Mozambican Energies session, sponsored by ENH, will provide potential investors and project developers with firsthand insight into Mozambique’s wealth of investment opportunities. This session will feature discussions on the challenges and opportunities within the country and offer delegates the chance to engage with national leaders and energy experts, with Minister Zacarias taking the lead in these discussions.
As Mozambique takes centre stage at AEW 2023, the nation’s commitment to sustainable energy development and its potential as a global energy market are poised to shine, marking a significant milestone in Africa’s energy evolution.