Huge gas discovery off Mozambique

2012-08-01 16:25

Johannesburg - Italian oil company Eni SpA has announced the discovery of more natural gas off the coast of Mozambique, expanding the yield of a major field off the southeast African nation.

Eni said on Wednesday that the field includes at least 10 trillion cubic feet of natural gas, increasing the total yield of the area to 70 trillion cubic feet.

The company said the drill site is 60km off the Capo Delgado coast. Eni has a 70% interest in the field, with Portuguese firm GalpEnergia, South Korea's KOGAS and ENH each having a 10% stake.

Natural gas exploration has increased in recent years in Africa, long a source for crude oil. Recent discoveries in Mozambique have made it a major regional source of liquefied natural gas.

  • jason.sole.92 - 2012-08-01 17:28

    As great as this sounds this is not good. The large powers are going to take a keen interest and sadly we can expect some 'instability'.

      Squeegee - 2012-08-01 17:30

      Add pollution to that.

      kevin.pitzer - 2012-08-01 17:35

      @Squegee I believe cooking on gas has an extremely low carbon footprint.

      Squeegee - 2012-08-01 20:08

      Kevin, I'm talking about the exploration and production. This is pristine coastline at the moment.

  • Tony - 2012-08-01 17:48

    My wife claims I have more gas than Mozambique!

      hennie.nel.501 - 2012-08-01 18:03

      My wife says that I must be worth a fortune to Sasol because I can produce gas as and when required and also sometimes when not required.

      Squeegee - 2012-08-01 20:11

      Just be careful BP don't read this - before you know it they will shove a tube up your you know what and charge you a surcharge...

  • etienne.fourie.7 - 2012-08-01 20:31

    70 to Italy, 10 to Portugal, 20 to Korea. BAM! No stake for you, Mozambique. My my, what a dramatic turn of events. Can barely contain my surprise.

  • andre.webster.10 - 2012-08-01 23:11

    Great so the LPG gas goes down by 300%???

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