Eastern Africa to become major player in energy geopolitics

Recently discovered gas in Mozambique could transform the country into a major player in the world LNG market, speakers said at a public event in Brussels. But some of them warned against high expectations of prosperity and warned that revenues won’t come fast.

The aggregate gas reserves of Mozambique and Tanzania potentially have the same size as those of Australia, which has become a leading supplier of liquefied natural gas (LNG) in the Asian market, which accounts for two-thirds of the global LNG demand and is growing fast.

“Building institutional frameworks and human resources are seen as very important, training being needed both for the state institutions as well on the business side.

All this needs public as well as private financing, and it remains unclear what the role of the IMF or the EU will be", speakers said.

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