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Mozambique's natural gas exports recorded a significant growth of 30% in the first quarter of 2024, reaching 443 million dollars, compared to 340.9 million dollars in the same period in 2023.
This increase is driven by the exploitation of Area 4 in the Rovuma basin, despite a 43.5% drop in the average gas price in the international market.
Mozambique, with the third-largest natural gas reserves in Africa, estimated at 180 trillion cubic feet, currently has three approved development projects for the exploitation of the Rovuma basin reserves, one of the largest in the world, located off the coast of Cabo Delgado.
Eni, the concessionaire of Area 4 of Rovuma, is developing a second floating platform, named Coral Norte, to increase gas extraction. This plan involves acquiring a second FNLG platform, identical to the one operating in Coral Sul since mid-2022, currently under construction in South Korea.
The Oporto Forte Group congratulates Mozambique's development in natural gas. Are you interested in internationalizing your business to Africa? The Oporto Forte Group, with a presence on more than 4 continents and in 10 countries, including Mozambique, is your partner.
Source: Forbes Africa Lusophone