- Several gas finds in East Africa dating decades have suffered long delays from the time they were “found”.
- Lengthy negotiations and insecurity have marred the projects, delaying a final investment decision on their development.
- Mozambique is already fighting Islamic insurgents in its gas-rich northern province, Cabo Delgado.
Economies across East Africa are losing billions of dollars in revenue every year because of key gas project delays in approving and developing liquefied natural gas investments, an analysis by The Exchange Africa reveals.
Several gas discoveries in East Africa dating decades, which were expected to power the region’s natural gas industry have suffered long delays from the time they were “found”. Lengthy negotiations, and insecurity have marred the projects, delaying a final investment decision (FID) on their development.
Mozambique’s gas finds
Take Mozambique, a regional economy of $41 billion GDP, for example. Mozambique reported huge gas finds in the 2010s. Industry…
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The post The gas project delays costing East Africa billions appeared first on The Exchange.
