South Africa is failing to fully grasp the energy and economic significance of the impending development of the enormous gas reserves discovered in northern Mozambique since 2010, Standard Bank oil and gas specialist Paul Eardley-Taylor argues. Between 150- to 200-trillion cubic feet of gas has been found offshore the country’s northern Cabo Delgado province and exploration, production, concession contracts, with use-it-or-lose-it terms, govern the development of three separate liquefied natural gas (LNG) projects.
