The director of the
Oil and Gas Department at Standard Bank said on Wednesday that natural gas
exploration in Mozambique had three unique advantages that wold guarantee the
project’s success.
“There are three
unique aspects to gas exploration in Mozambique, which are the fact that the
country is in the middle of the map and is ideal for exporting to Asia and
Europe, having a large concentration of reserves in a small geographical area
and not being aligned with no political jurisdiction and can therefore sell to
all countries,” Paul Taylor said.
In a webinar on
natural gas exploration in Mozambique, the head of oil and gas investment at
Standard Bank notes that “Mozambique is just four levels below South Africa in
terms of its Standard & Poor’s rating”, and it was hoped that there would
be favourable developments in the sector in the second half of this year. Regarding
the main threats to the project, Taylor listed the Covid-19 pandemic and the
armed attacks in the north of the country, but said he thought the spread of
Covid-19 was “controlled”, while admitting that combating the armed groups was
more difficult.
“It is a multifaceted,
complex issue, which involves religious fundamentalism, heroin smuggling and the
isolation of the province. It is being fought not only by the country, but by
the region, in a consistent and coherent way, but it will not disappear
overnight,” he ventured.
Certainly, in Taylor’s
opinion, “the US$125 billion investment [€115 billion] up until the middle of
this decade, could lead to huge and sustainable development in the country”. The
virtual conference organised by Africa Oil Week, an organization for the
promotion of events and investments in Africa, also included the participation
of representatives from the United States Export Bank and consultants Global
Platts and Deloitte.
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