New Gas Fields Found in Mozambique

Two new natural gas fields were found in the southern Inhambane province of Mozambique. The gas field discovery is foreseen for domestic demand for natural gas as suggested by Mineral Resources Minister Esperanca Bias of Mozambique including for electricity generartion, fertiliser factory and fuel for vehicles.

Under Mozambican law, any consortium that has discovered gas reserves has six months to assess its findings and present a report to the government. In this case, the player will be South Africa's Sasol , Malaysia's Petronas and the Mozambican government. Sasol, the world's biggest maker of diesel from coal, owns 50 percent of the project, Petronas owns 35 percent, while the government of Mozambique holds 15 percent through national oil company Empresa Nacional De Hidrocarbonetos De Mozambique (ENH).