The liquefaction and subsequent sale of the natural gas found in the Rovuma basin in northern Mozambique, requires investment of over US$20 billion, the deputy Mining Resources Minister, Abdul Razak said in Maputo.
At an international conference on natural gas, the deputy minister said that the natural gas was due to start being extracted and processed in 2018 and its main customers would be a variety of industries, such as those specialised in producing liquid fuels, plastics and fertilizers.
The Mozambican government, Razak said, planned to get Mozambican companies to take part in the process, “recognising, however, that the capital required is extremely high.”
According to the Mozambican press, economist Nuno Castel-Branco recently called for the Mozambican government to demand that the resources are processed inside the country in order to generate greater added value ahead of being exported.
“This would be a way of Mozambique affirming its position as a significant player in the region’s energy sector and with power to influence decision-making,” the economist said insisting that it was necessary to think about making use of the resources on a regional rather than international basis. (macauhub)