Wood Mackenzie thinks investors will come up with the money this year for the Rovuma Bay natural gas project in Mozambique, amid strong demand for liquefied natural gas around the world, especially in China, Reuters says.
The news agency quotes the consulting firm as saying Rovuma Bay is among the natural gas projects around the world that are most likely to get this year the investment required to start them.
A huge increase in demand in China for LNG due to efforts there to replace coal with gas as the main source of energy for homes and factories is making the natural gas industry optimistic, Reuters says.
Last month the Rovuma Bay project concessionaire, Mozambique Rovuma Venture SpA, a joint venture in which state-owned China National Petroleum Corp. is a partner, announced that it would decide this year whether to stump up the money.
