Reuters: Mozambique may struggle to find funds for LNG ambitions

Mozambique may struggle to find all the investment finance it needs for its ambitious liquefied natural gas (LNG) projects as it must compete with top-rated developed economies with similar big LNG export plans, regional energy and finance experts said.

Some of the world's biggest offshore natural gas fields lie off Mozambique, which despite recent coal and gas discoveries remains among the least developed nations on the planet.

Lacking the capital to develop multi-billion dollar LNG export terminals by itself, Mozambique must attract foreign investment for financing. To encourage this investment, the government is planning to introduce new energy and mining laws that will set a clear regulatory and taxation environment.

"The oil and gas law is currently at the parliament. The parliament is going to approve the bill in its next session," Minister of Natural Resources Esperanca Bias told Reuters. She said the law would be approved within months. MORE

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