Mozambique has the potential to be the world’s third-largest producer of natural gas, after Qatar and Australia. But the country needs to secure between US$20 billion and US$25 billion in foreign investment, according to a report by consultancy PricewaterhouseCoopers (PwC), quoted by news portal Macauhub.
The consultancy also said in its report on the sector, that although Mozambique has great potential with regard to natural reserves, it will take some time before these benefits can actually reach the country’s economy.
China’s support in building the necessary infrastructure is one of the aspects highlighted in the report. According to PwC, the financial support from China may allow the country to secure an advantage in the use of such resources.
The report also said that a major obstacle to the development of the industry in Mozambique and Tanzania is the cost of the necessary infrastructure, “which no country can afford without help of foreign investors”.