Mozambique gas exports hit $5.5mln per day in H1 2025

Mozambique’s natural gas exports earned an average of US$5.5 million per day in H1 2025, maintaining their growth and securing their position as the country’s top export, official data show. According to this month’s data from the Bank of Mozambique, natural gas exports rose from US$900.7 million in the first half of 2024 to US$1,006.5 million (equivalent to US$5.5 million per day) from January to June 2025. This represents an 11.7% increase over the year, explained in the document by higher prices and growth in export volumes, contrasting with a 27% drop in coal exports, which fell from US$1,025 million in 2024 to US$744.1 million in the same period of 2025, losing its position as Mozambique’s leading export.

The document justifies the decline in the value of Mozambique’s exports by “production stoppages of metallurgical coal by certain companies in the sector”, as well as the “break in the railway line caused by the March 2025 weather events”, which “affected the transport of production”, alongside an 8.9% decrease in the average international market price of the product. Mozambique has three approved development projects for the exploitation of natural gas reserves in the Rovuma Basin, ranked among the largest in the world, off the coast of Cabo Delgado. The Coral Sul project, operated by Eni, is the only one currently in operation, since 2022, with investment in a second floating platform, Coral Norte, approved last October.

The US$7.2 billion (€6.2 billion) investment will, from 2028, allow production to double to 7 million tonnes per year (mtpa) of liquefied natural gas. After four years of suspension due to terrorist attacks in Cabo Delgado, the Mozambique LNG project (Area 1), operated by TotalEnergies, worth US$20 billion (€17.4 billion), officially resumed in January and is expected to reach 13 mtpa from 2029, followed by the Rovuma LNG project (Area 4), worth US$30 billion (€26.1 billion), operated by ExxonMobil, with 18 mtpa expected after 2030, and whose final investment decision is expected this year.