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Maputo, Mozambique — 13 March 2013 – Natural gas in Mozambique has been the main topic of discussion at an international conference in the Mozambican capital this week, attended by members of the government, representatives of international organisations, as well as companies operating in the sector.

Reporting from here, the press revealed that in a period of just seven years estimated natural gas reserves in Mozambique had risen from 5 trillion cubic feet to over 170 trillion cubic feet. This huge increase resulted from discoveries announced in the Rovuma basin by multinational corporations Anadarko Petroleum from the United States and ENI of Italy, reports Macauhub News Agency.

The conference has been discussing plans, opportunities and expectations for Mozambique’s gas; the local and global impact of the discoveries and recent investments; integrated development of gas for balanced regional export and use; and future exploration and licensing.

According to the local media, the Mozambican government is expected this year to approve a strategy for the gas sector, outlined in a document that is currently at an advanced stage of discussion. A debate on the preliminary version of the document took place in February.

Once the strategy document is approved, Mozambique will have a guiding strategy for its activities in the sector, particularly relating to contracts that are now being discussed and the price policy to be put in place.

Source: Macauhub News Agency. For more information, click here.