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 tooA sailing dhow at Vilankulo, Mozambique. The country has vast reserves of natural gas just off its picturesque shores. Picture: iSTOCK

The first of the two mega-projects is Anadarko Petroleum’s $20bn Golfinho project, which will include an onshore liquefied national gas plant, is expected to make a final investment decision before June this year. The other potential project is ExxonMobil and Eni’s $30bn Rovuma LNG Project in which Standard Bank is also looking to get involved with the ECIC, with similar SA content requirements attached. According to the DTI, this could be another potential $500m content obligation for SA.

While the projects will be good for SA, for Mozambique the benefits could be tremendous. Assuming both final investment decisions are made for both projects, Standard Bank expects Mozambique’s GDP to grow between 8% and 10% per annum over 30 years.

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