The African Energy Chamber (AEC) has called for peace and stability in Mozambique as the country prepares to tap its immense liquefied natural gas (LNG) potential.
“Peace and stability are essential for Mozambique to unlock its immense economic potential. (…) A commitment to peace will not only ensure the success of the multi-billion-dollar energy projects but also ensure long-term prosperity,” said NJ Ayuk, Executive Chairman of the AEC, in an AEC statement received by APA.
The plea comes at a crucial time when ambitious energy projects, such as the “delayed” $20 billion Mozambique LNG, require a secure environment to come to fruition.
Following the 2024 general elections, violence during protests has rocked the country, threatening its path to prosperity.
Since the discovery of vast natural gas deposits in 2010, the Portuguese-speaking country in southern Africa has been seen as a future energy giant.
It is positioned as one of the most dynamic gas markets on the African continent, with offshore reserves that could make it one of the world’s ten largest producers, representing up to 20 percent of African production by 2040, the AEC points out.
The International Monetary Fund estimates that LNG revenues for Mozambique could reach $500 billion by 2045, with real GDP growing at an average annual rate of 24% between 2021 and 2025.
Projects such as Coral Sul LNG, Rovuma LNG and Temane Gas-to-Power also promise to attract billions of dollars in investment while providing stable energy to more than two million homes by 2030.
However, the AEC stresses that a strong commitment to political stability and sustainable development is essential to transform these opportunities into tangible benefits.
The organisation reiterates that a peaceful and stable environment is the basis on which the international community can confidently build long-term partnerships.
Geopolitically, gas development could also strengthen southern Africa, transforming Mozambique into an energy hub for its neighbours, including South Africa, Zimbabwe and Tanzania.
With its 2,700 km of coastline along the Indian Ocean, the country also benefits from a strategic asset for global trade, underlines the Chamber, further urging the Mozambican government and the opposition to find common ground in order to guarantee sustainable prosperity for the country and consolidate its role in the energy future of Africa.
