‘Mozambique to become the world’s 2nd biggest gas exporter’
Rome: Mozambique is set to become the world’s second-largest gas exporter by 2024-25, and the country is eager for Italy’s energy giant Eni’s investment and technology to help it discover and develop fields, the company’s chief executive, Claudio Descalzi, said on Tuesday.
‘By 2024-2025, Mozambique will be the second biggest gas exporter in the world after Qatar,” Descalzi told the Italy-Mozambique business forum here, being attended by 70 Italian companies and business leaders from the energy and other sectors.
“And it is not yet exporting gas, so technologies are needed to discover and develop fields… They want us,” he added.
Eni has already invested over $8 billion and together with other partners will invest almost another $25 billion by 2024 to bring other gas fields on stream, he said.
“Coral (offshore field) will go into production in 2022 and then there is another field developed with Exxon which will eventually produce with Coral 20 million tonnes of liquified natural gas per year,” said Descalzi.
These projects will bring “a very important return” for Mozambique in 20-25 years time of around $100 billion at current prices,” he stated.
“And this is only a third of the gas we have found to exploit. It is a region that will see very great development,” Descalzi added.