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AfricaSeptember 1 2016

Energy finds fuel hopes of a Mozambique boom

Boasting major gas discoveries, Mozambique is nursing ambitions to become both a regional energy hub and a key exporter to Asia. But the government must act fast to attract investment in an increasingly competitive market, writes James King.
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In the space of a few short years, Mozambique has become one of the world’s hydrocarbon heavyweights. Following the discovery of massive natural gas reserves in the offshore Rovuma basin in the country's far north, its long-term economic growth prospects have materially changed.

The latest figures from the International Monetary Fund (IMF) estimate total reserves at 5000 billion cubic metres, roughly equivalent to the gas reserves held by Nigeria, which has the largest proven reserves in Africa.

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