Mozambique has been identified as one of the most promising energy sectors in the world, with lucrative natural gas reserves positioning the East African country as a globally competitive investment destination. Africa’s premier energy event taking place on the 9e-12e From November 2021, Mozambique pledged to promote its resources, secure new investment and accelerate regional economic growth, and will join East African producers in Cape Town during African Energy Week (AEW) 2021.
HE Ernesto Max Elias Tonela, Mozambican Minister of Mineral Resources and Energy (MIREME), will lead the Mozambican industry delegation to Cape Town, promoting the role of the state-owned company Empresa Nacional de Hidrocarbonetos (ENH), as well as the country’s important projects, its many investment opportunities and its strategic position within the regional trade network of Southern Africa.
Mozambique has quickly become a competitive investment destination, with its large energy reserves, prime geographic and demand location, and market-driven approach to energy sector development. With over 100,000 billion cubic feet of natural gas reserves, the world’s largest untapped coal reserves and one of Africa’s largest hydropower facilities, the country has positioned itself as both a leader in hydrocarbons and renewable energies. Despite the development delays caused by the COVID-19 pandemic and political insurgency in the northern province of the country, HE Minister Max Tonela is committed to accelerating the growth of the energy sector through assured operational security, collaboration between the public and private sectors and the regional support.
ENH, as a public entity responsible for the research, prospecting, production and marketing of petroleum products in Mozambique, has played a decisive role in the country’s energy transformation. Represent the State in oil operations and have the main mission of adding value to natural resources through commercial participation, ENH has positioned itself as both a leading African state-owned enterprise and a key driver of Mozambique’s energy growth.
In addition to a proactive and engaged state-owned enterprise, global energy majors are working with the government to spur the growth of Mozambique’s energy sector, and the country is on track to lead Africa in the transition to natural gas. Participating companies in Mozambique include TotalEnergies, ExxonMobil, Anadarko Petroleum, Sasol, Chevron, BP, Petronas and the Chinese company CNPC. By emphasizing public-private partnerships and sectoral integration, the ministry and ENH will emphasize the value of collaboration in enhancing the growth of the energy sector.
In Cape Town, HE Minister Max Tonela and ENH promote Mozambique’s emerging liquefied natural gas (LNG), with a focus on projects such as the development of TotalEnergies’ offshore zone 1 in the Rovuma basin – thanks to which Total succeeded in securing the largest increase in private debt in African history, getting around $ 15 billion in funding – ExxonMobil’s Rovuma LNG Liquefaction plant in Rovuma Basin Offshore Zone 4, and the $ 8.6 billion Coral South Floating LNG project. With a capacity of 13 million tons, 15-16 million tons and 3.4 million tons of LNG per year, respectively, these projects have positioned the country as a globally competitive natural gas giant, and the Minister and ENH will focus on this point with global stakeholders.
“Mozambique is one of the main destinations for natural gas in the world. Despite project delays and uncertainty, the country is committed to strengthening security, stimulating foreign investment, and accelerating both project growth and socio-economic growth. With the minister leading a delegation to Cape Town in November, including the state-owned company ENH, Mozambique will be presented to the world and the country will take its rightful place as a globally competitive gas producer, ”said NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC).
Meanwhile, Mozambique has all the makings to become a regional energy producer and distributor, with major pipeline and power projects enabling essential natural gas and electricity to be transported to neighboring countries such as Zimbabwe. , South Africa and Zambia. The country’s significant resources are essential for the growth of regional demand, both for oil and gas and electricity. Pipeline projects such as the 865 km Republic of Mozambique Pipeline Company Project – connecting the Pande and Temane fields in Mozambique to Sasol’s operations in South Africa – and the South African Power Pool have enabled the country to become a regional gas hub. With the implementation of the African Continental Free Trade Agreement in January 2021, the country is more able than ever to accelerate regional gas trade, serving as a trend for other emerging natural gas producers in Africa.
By bringing the Mozambican energy industry to Cape Town in November, the Minister and ENH present the country’s current and upcoming projects, promote its role as a regional producer and distributor of natural gas, and focus on effective strategies for the safe and efficient resumption of project activities in Mozambique.
AEW 2021, in partnership with the South African Ministry of Mineral Resources and Energy DMRE, is the AECannual conference, exhibition and networking event. AEW 2021 brings together African energy players with international investors and partners to drive industry growth and development and promote Africa as a destination for energy investments.
Distributed by APO Group on behalf of the African Chamber of Energy.
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