Mozambique’s natural gas exports increased in volume by 80.9% in the second quarter of 2023, compared with the same period in 2022, delivering a revenue of $336Million to the national treasury, according to data from the Bank of Mozambique (BdM),
This is an inflow of $238.1Million more than in the same period in 2022, explained essentially by the increase in the volume exported. The bank said that the inflow was r significant despite the fact that international price of natural gas fell by 64.1% in the period.
Mozambique commenced export of Liquefied Natural Gas (LNG) in November 2022, but the country has been exporting natural gas by pipeline to South Africa since 2004. The vast difference in revenue is explained by the volume as well as the government’s take.
Overall, however, Mozambique earned $2Billion from exports in the second quarter, $179Million less than in the same period in 2022. India purchased the most from Mozambique, with a 15.3 per cent share of the total, mainly coal, followed by South Africa, with 13.3 per cent, leading among natural gas, and China, with 10.3 per cent, essentially in heavy sands.