Britain’s Cove Energy PLC believes its offshore Mozambique Rovuma block it is exploring has an upside potential of 40 trillion cubic feet of gas, almost triple the 11 tcf it has proven, the company’s chairman said on Tuesday.
“We believe to date that we have already proven up more than 11 tcf, however Cove estimates the overall potential of the (Rovuma offshore Mozambique) block only to be more 40 tcf . and the total potential for East Africa is easily 100 tcf,” Michael Blaha, executive chairman of Cove Energy, told an African oil and gas conference on Tuesday.
Oil and gas companies, including U.S. firm Anadarko , are flocking to the southern African nation following huge gas finds.
Blaha said the first gas from Mozambique was eyed for 2018, with the first LNG gas trains likely to supply the growing Asian market.
“The Mozambique LNG project alone could be a game-changer for the LNG industry,” he said.