Last week I attended an oil and gas brief by Standard Bank (Stanbic) on business opportunities available in the fast evolving natural gas developments in offshore Mozambique, an area that has been acknowledged as a top future global exporter of Liquefied Natural Gas (LNG).
With total natural gas reserves of 150-200 tcf (trillion cubic feet), Mozambique is now one of the major natural gas basins in the world. As much as $128 billion capital expenditure will be spent in Mozambique by major oil companies over the next five years.
LNG is natural gas (methane) chilled into liquid at very low temperatures for ease of storage and marine transportation. Natural gas is also transported in pipelines at ambient temperatures. LNG is different from Liquefied Petroleum Gas (LPG) which is a heavier gas (butane) liquefied under pressure, and which is usually sourced from crude oil refining. Read more…
