Mozambique gas — a $500m business opportunity for SA
Two of the largest gas finds in recent history are not just a boon for Mozambique, but a potential windfall for SA too
Potential suppliers to SA’s fledgling oil and gas industry may be positively thrilled about Total’s recent oil and gas find off the coast of Mossel Bay — but something far larger is in the works in neighbouring Mozambique, where two of the largest natural gas developments in Africa’s history could present at least $500m (R6.9bn) in business opportunities for South Africans. The projects come on the back of the discovery in the Rovuma basin off the northern coast of Mozambique, the location of the largest gas discovery in recent history. With this resource developed, Mozambique is expected to become the fourth or fifth largest gas-producing nation in the world. The first of the two mega-projects is Anadarko Petroleum’s $20bn Golfinho project, which will include an onshore liquefied national gas (LNG) plant, is expected to make a final investment decision before June this year. Standard Bank is “targeting substantial involvement”, although how much it might invest cannot yet be disclo...
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