German investors eye Mozambique’s oil and gas sector

A group of German investors is eyeing Mozambique's budding oil and gas sector and is set to visit the southern…

A group of German investors is eyeing Mozambique’s budding oil and gas sector and is set to visit the southern African country during the first quarter of 2021, APA learnt here on Monday.The investors, falling under the banner of the Germany Africa Business Forum (GABF), said they would embark on a three-day trade mission in March 2021 to promote trade and investment between Mozambique and the European country.

The visit would coincide with the Mozambique Gas and Power 2021 Conference and Exhibition set for 8-9 March next year.

According to GABF executive chairman Sebastian Wagner, the aim of the investment mission is to deepen German-Mozambican relationships in light of Mozambique’s recent discovery of substantial natural gas fields, which are largely considered a game-changer for the southern African country.

“Mozambique is a great opportunity for German businesses to invest in gas monetization projects, petrochemicals, power projects, industrialization and immediate diversification of the economy that leads to jobs for the people of Mozambique and Germans alike,” Wagner said.

He said GABF would host a Germany-Mozambique roundtable during the forthcoming conference at which a number of investment deals are expected to be signed.

Mozambique has announced large findings of natural gas reserves off the coast of its northern most Cabo Delgado province.

The discovery of the gas reserves has, however, attracted unwanted visitors in the form of insurgents linked to the Islamic State.

The insurgents have killed thousands and displaced tens of thousands more from the province.

Follow the live information on our channel