Absa CIB Admin
Absa's Colin King discusses the opportunities of Mozambique’s natural gas reserves
In this instalment of the 2019 Absa Insights Series, Bhavtik Vallabhjee, Senior International Banker & Head: Power, Utilities and Infrastructure, Absa CIB chats to Colin King, Principal: Resource and Project Finance, Absa CIB about the opportunities of liquefied natural gas (LNG).
- Mozambique has the world’s 9th largest gas reserves. With close proximity to these reserves, South Africa could access some of this gas through pipelines for the gas-fire power we are envisaging for our country.
- Discovering gas reserves can change the economic trajectory of countries. Oman, for example, was one of the poorest countries in the Middle East, but this trend was reversed once gas reserves were discovered, resulting in significant growth in the country.
- If South Africa works with Mozambique, the impact of LNG for the region would be enormous, from economic growth to employment opportunities.