Thursday, February 22, 2024
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Mozambique’s natural gas potential could yield 100 billion dollars

Consulting firm Deloitte has concluded that Mozambique’s natural gas reserves have the potential to generate revenues of up to 100 billion dollars, highlighting the country’s crucial role in the global energy transition.

According to the consultancy’s 2024 report on Africa’s energy prospects, Mozambique could become one of the world’s top 10 gas producers by 2040, accounting for 20% of the continent’s production.

In addition, the report highlights that Mozambique could contribute significantly to global energy needs, especially during the transition to renewable energies. The consultant stresses the importance of developing renewable energy capacities and technology to meet the demands of the industry.

The report also predicts that natural gas could generate around 100 billion dollars in revenue for Mozambique over its lifetime. In addition, the country has hydroelectric assets, such as the Cahora Bassa dam (2,000 MW) and the potential of the Mphanda Nkuwa dam (1,500 MW), which can contribute to the decarbonization of regional industry.

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