• Foot on the gas

    Foot on the gas

    Mozambique has the potential to become one of the fastest-growing economies in the next decade – that’s if its largest offshore natural gas discovery is properly utilised.

    According to an AFKInsider report, the natural gas discovery – which was made in 2010 in the Rovuma basin, off the coast of the Cabo Delgado province – is estimated at 180 trillion cubic feet. This has prompted the IMF to forecast that what is currently one of the world’s poorest countries could grow by an annual 24% between 2021 and 2025, before slowing down to about 3% to 4% by 2028.

    This finding could also make the Southern African nation the world’s third-largest liquefied natural gas exporter (after Qatar and Australia) once production hits its peak.

    26 January 2016
    Image: Gallo/GettyImages