Mozambique's Minister of Minerals and Energy to Unveil Investment Prospects at African Energy Week

Strategic Insights -

Mozambique's Minister of Minerals and Energy, Estevão Pale, will take the stage at this year's African Energy Week (AEW): Invest in African Energies conference to highlight the country's investment opportunities in the energy sector. With over 150 trillion cubic feet (tcf) of proven natural gas reserves, Mozambique has become a significant player in the global LNG market, with several major offshore projects underway. The Eni-led Coral Sul FLNG project has already produced 5 million tons per annum (mtpa) since its startup in 2022, and the country is advancing several other offshore gas projects, including the Coral North FLNG facility and the Rovuma LNG project led by ExxonMobil.

Key Takeaways:

  • Mozambique has over 150 tcf of proven natural gas reserves, making it an attractive LNG investment destination.
  • The country's Rovuma basin is rich in untapped resources, with Area 4 projected to contain up to 85 tcf of resources and Area 1 estimated to contain up to 65 tcf.
  • The Eni-led Coral Sul FLNG project has already produced 5 mtpa since its startup in 2022.
  • The Coral North FLNG facility, situated in Area 4, will complement the operational Coral Sul FLNG facility and target a final investment decision for 2026 with first production slated for 2028.
  • The Rovuma LNG project, led by ExxonMobil, is expected to produce 18 mtpa of LNG and plans to reach a final investment decision by 2026 with first production in 2030.
  • The Mozambique LNG project, led by TotalEnergies, features two liquefaction units with a capacity of 13 mtpa and is supported by $14.9 billion in senior debt financing.
  • Mozambique is committed to enhancing renewable energy capacity, with solar and wind expected to account for 20% of the country's energy mix by 2040.
  • The country is also developing a 450 MW gas-to-power plant in Temane to improve access to low-cost power across the country.

Statistics:

  • 150 trillion cubic feet (tcf) of proven natural gas reserves in Mozambique.
  • 5 million tons per annum (mtpa) of production achieved by the Eni-led Coral Sul FLNG project since its startup in 2022.
  • 3.5 mtpa production capacity of the Coral North FLNG facility.
  • 18 mtpa of LNG expected to be produced by the Rovuma LNG project.
  • $14.9 billion in senior debt financing for the Mozambique LNG project.
  • 20% of Mozambique's energy mix expected to come from solar and wind by 2040.
  • 450 MW capacity of the gas-to-power plant in Temane.

Sources:

  • APO Group
  • African Energy Week
  • Mozambique's Ministry of Minerals and Energy
  • Eni
  • ExxonMobil
  • TotalEnergies
  • African Energy Chamber
  • Contify.com