Europe faces acute energy shortages since the onset of the Russia-Ukraine war, owing to sanctioned Russian gas that previously accounted for 30-50% of energy supply for countries like Germany and Italy. Prior to the conflict, Russia made up 41% of all natural gas imports to the European Union (EU), and of the country’s total exported pipeline gas, 85% was exported to the EU.
Accordingly, Mozambique is one of several African oil and gas-producing markets being positioned to ease the global energy crisis. The southern African nation is home to prolific natural gas fields off its northern coastline, holding over 100 trillion cubic feet of proved gas reserves.
