The Rovuma Basin off Mozambique's northern coast contains approximately 180 trillion cubic feet of natural gas, the world's 11th-largest reserve. Development of this resource through two competing LNG projects, TotalEnergies's Mozambique LNG at Afungi and Eni/ExxonMobil's Coral South FLNG vessel, has attracted over $20 billion in investment and promises to transform Mozambique into one of the world's major LNG exporters by the late 2020s. Eni's Coral South FLNG vessel, moored offshore, has been producing and exporting LNG since mid-2022, with BP contracted to purchase the entire output for 20 years.
Security and Resumption
TotalEnergies's $20 billion onshore LNG project was suspended in April 2021 following a major attack by Islamist militants on Palma town. French, Rwandan, and Mozambican security forces have substantially improved the security situation in Cabo Delgado province since 2022, and TotalEnergies has signalled its intention to resume construction. When both projects reach full capacity, Mozambique could export 30 to 40 million tonnes of LNG annually, generating several billion dollars in government revenues. Businesses in Mozambique's LNG value chain and regional trade can access contacts on intra-africa.com.
For businesses looking to expand across Africa, intra-africa.com offers a comprehensive trade directory, verified buyer and seller listings, and real-time market intelligence covering all 54 African nations. It remains an indispensable resource for anyone serious about intra-African commerce.