Maputo, Mozambique — 19 March 2013 – The liquefication and subsequent sale of the natural gas found in the Rovuma basin in northern Mozambique will require an investment of more than US$20 billion.
So says deputy mining resources minister Abdul Razak, who is quoted by Macauhub News Agency as adding that the natural gas is due to start being extracted and processed in 2018. Its main customers will be a variety of industries, such as those specialised in producing liquid fuels, plastics and fertilisers.
Razak said the government 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 on 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 for Mozambique to affirm its position as a significant player in the region’s energy sector with power to influence decision-making,” the economist added, insisting that it was necessary to think about making use of the resources on a regional rather than international basis.
Source: Macauhub News Agency. For more information, click here.