Exxon Mobil has taken another step toward the creation of Africa’s largest liquefied natural gas facility — a project so sweeping that it will have implications for both the continent’s and the world’s energy landscape. The $33 billion enlargement of Mozambique’s Rovuma LNG complex will transform the country’s $15 billion economy, create thousands of jobs, give government more money to work with, and raise people’s standard of living. If these reserves are exploited effectively, experts predict that Mozambique could become the world’s third largest LNG exporter, increasing Africa’s roughly 8 percent share of global gas exports. At the same time, it will position Mozambique as a key supplier to African countries wishing to use gas to stabilize their unreliable electrical power grids — a continent-wide problem that has hurt African economic growth for decades.
SOURCES: AFRICAN BUSINESS MAGAZINE