GECF Takes Part in the 6th Mozambique Gas Summit
GECF participated in the 6th Mozambique Gas Summit held in Maputo, Mozambique on November 13-14, 2019. The theme of this year’s event was Post FID Opportunities in Mozambique’s Gas and LNG Industry.
HE Filipe Jacinto Nyusi, President of the Republic of Mozambique and HE Enersto Max Tonela, Minister of Mineral Resources & Energy of Mozambique delivered keynote speeches, addressing to governors, policymakers, CEOs, consultants, experts, and other attendees.
GECF representative Mr. Adrian Sookhan, Gas Market Analyst from the Gas Market Analysis Department participated in the panel "Mozambique Energy Hub: Powering Industrialization & Energy Transition" alongside with other speakers from ENH, GreenLight Africa, S&P Global Platts and Technip.
Mr. Sookhan delivered a presentation highlighting GECF’s view on the role of natural gas in powering industrialization and energy transition. During his intervention, he emphasized the contribution of the Forum in the global natural gas and LNG market, the prospects for natural gas, as well as the resource's crucial role in achieving UN Sustainable Development Goals, energy transition to a low carbon future and industrialization of a country.
Two case studies from GECF Member Countries - Trinidad and Tobago and Qatar - were also presented to showcase how natural gas monetization boosted the economic development and industrialization of both countries. GECF representative also highlighted the prospects of a potential regional hub for power exports in Mozambique and the challenges hindering the stability of the natural gas market.
It was specifically emphasized, that currently Mozambique holds around 5.1 Tcm of gas resources, which represents around 1% of gas resources globally and 6% in Africa. The country is expected to become a major LNG exporter by the middle of the next decade supported by the Final Investment Decision (FID) on the Coral FLNG project (3.4 MTPA) in June 2017, the Mozambique LNG project (12.88 MTPA) in June 2019 and the anticipated FID for Rovuma LNG (15.2 MTPA) in the first half of 2020.
On a higher note, the contribution of the African region, which currently accounts for 6% of global marketed gas production and 13% of global LNG exports, in the global gas market is expected to be boosted by the gas and LNG development in Mozambique. For the time being, six African countries, namely Algeria, Angola, Egypt, Equatorial Guinea, Libya and Nigeria are members of the GECF.