Mozambique
Rovuma gas, graphite and an aluminium value chain
Overview
Mozambique combines world-scale offshore gas in the Rovuma Basin with graphite, heavy sands, coal and the Mozal aluminium smelter, making it one of Africa's most connected energy-to-industry economies.
Policy
Upstream petroleum activity is regulated by the Instituto Nacional de Petróleo (INP), which runs competitive licensing rounds for exploration and production concession contracts.
Geopolitics
Security in Cabo Delgado remains a determining variable for the onshore LNG programme and for regional investment sentiment.
Key data
- Region
- Southern Africa
- Capital
- Maputo
- Currency
- MZN
- ISO3
- MOZ

Market records
Country at a glance
Economy & macroeconomics
Energy intelligence
- Hydro80%
- Natural gas17%
- Solar3%
Project pipeline
- 1Development
- 1Construction
- 3Operating
Industrialisation & value chains
- Upstream
Rovuma Basin Areas 1 and 4 hold sanctioned offshore gas developments.
Established
- Liquefaction
Coral South FLNG is producing; the onshore Afungi trains remain to be completed.
Emerging
- Domestic gas use
Gas-to-power and gas-based fertiliser or petrochemical capacity remain limited relative to reserves.
Capacity gap
- Export
LNG cargoes ship to Asian and European buyers under long-term contracts.
Established
Markets & trade
- Coal30%
- Natural gas / LNG20%
- Aluminium18%
- Graphite & heavy sands8%
- India22%
- South Africa17%
- China12%
- European Union11%
Risk & due diligence
- CCC+Fitch Ratings2025
- Caa2Moody's RatingsStable · 2025
Security, Cabo Delgado
Likelihood 3/3 · Impact 3/3
Onshore LNG execution timelines remain conditional on the security situation in Cabo Delgado.
Sovereign debt
Likelihood 2/3 · Impact 3/3
Speculative-grade sovereign ratings raise the cost of state participation in capital-intensive projects.
Logistics capacity
Likelihood 2/3 · Impact 2/3
Coal and mineral volumes depend on the Nacala and Beira corridors operating at contracted capacity.
Policy, development & international frameworks
Paris Agreement NDC
Mozambique's nationally determined contribution is filed in the UNFCCC registry.
UNFCCCEITI implementation
Extractive revenue reporting follows the EITI standard.
Extractive Industries Transparency InitiativeAU Agenda 2063
Continental framework for industrialisation and regional infrastructure corridors.
African UnionGovernance & legal framework
Sets mining and energy policy and awards mineral and petroleum rights.
- Instituto Nacional de Petróleo (INP)Regulator
Regulates petroleum operations and runs licensing rounds.
- Empresa Nacional de Hidrocarbonetos (ENH)State company
Holds the state participation in petroleum concessions.
- APIEXInvestment promotion
Registers investment projects and administers investment incentives.
Law · mining · República de Moçambique
Law · petroleum · República de Moçambique
Law · investment · APIEX
Outlook
- Onshore LNG restart timing
- Hydro and grid expansion
Nexus reads Mozambique's energy trajectory as dominated by two decisions: the onshore LNG restart and the pace of transmission investment that would let hydro serve regional demand.
Drivers are sourced; the reading is Nexus analysis, not a forecast.
International Energy Agency ·Related projects
Mozambique LNG (Area 1)
Onshore liquefaction development on the Afungi peninsula processing gas from the Golfinho/Atum fields in Offshore Area 1 of the Rovuma Basin.
- Capacity
- 12.88 mtpa initial (two trains)
- Status
- Onshore construction; project restarted after suspension
Coral South FLNG
Africa's first deepwater floating LNG facility, producing from the Coral reservoir in Offshore Area 4 of the Rovuma Basin.
- Capacity
- 3.4 mtpa
- Status
- Producing — first LNG cargo exported in November 2022
Mozal Aluminium Smelter
Mozambique's largest industrial exporter, converting imported alumina into primary aluminium using hydro-based electricity.
- Capacity
- Approx. 580,000 tonnes per annum aluminium
- Status
- Operating; long-term electricity supply is the critical variable
Balama Graphite Operation
One of the world's largest natural graphite operations, supplying feedstock into the battery anode value chain.
- Capacity
- Natural flake graphite; see operator disclosures
- Status
- Operating with production rates managed to market conditions
Mphanda Nkuwa Hydropower
Planned Zambezi hydropower scheme intended to supply domestic industry and regional export markets via new transmission.
- Capacity
- Approx. 1,500 MW (announced)
- Status
- Development stage — structuring and partner selection
Business opportunities
Mozambique petroleum licensing round (INP)
Competitive award of exploration and production concession contracts for offshore and onshore blocks. Terms, blocks and deadlines must be confirmed directly on the INP portal.
Mozambique LNG contractor and supplier registration
Local content and supplier registration channels for construction, logistics, catering, civil works and specialist services around the Afungi site.
Mozambique transmission backbone participation
Mphanda Nkuwa cannot deliver value without new high-voltage transmission, creating opportunities in EPC, financing and equipment supply.
Explore by commodity
Natural Gas & LNG
Africa's gas story runs through the Rovuma Basin, Nigeria, Egypt and Algeria, and is increasingly evaluated on liquefaction capacity rather than reserves.
Aluminium
Smelting is a power business. Africa's largest smelters — Mozal in Mozambique and Hillside in South Africa — depend on long-term electricity supply.
Graphite
Anode feedstock. Mozambique and Tanzania hold some of the largest natural flake graphite resources outside China.
Coal
South African thermal coal and Mozambican coking coal remain significant export earners and power-sector inputs.
Related companies
oil gasTotalEnergies
Courbevoie, France
Operator of the Mozambique LNG onshore project in Area 1 and a large upstream portfolio across Africa, alongside renewables investments.
oil gasEni
Rome, Italy
Delivered Coral South, Africa's first deepwater floating LNG facility, and operates major gas assets including Zohr in Egypt.
South32
Perth, Australia
Operates Mozal Aluminium in Mozambique and Hillside Aluminium in South Africa, two of Africa's largest smelters.
Syrah Resources
Melbourne, Australia
Owner of the Balama graphite operation in Cabo Delgado, Mozambique, supplying natural graphite for anode markets.
Related industries
Oil & Gas
Exploration, development, production, processing and refining of crude oil and natural gas.
LNG
Liquefaction, floating LNG, shipping and regasification of natural gas for export markets.
Power
Generation, transmission and distribution, including hydro, gas, coal and nuclear capacity.
Mining & Minerals
Exploration, extraction and concentration of metallic and industrial minerals.
Metals & Industrial
Smelting, refining, alumina and aluminium production, steel, coke and downstream industrial manufacturing.
Infrastructure
Cahora Bassa Hydropower
Zambezi hydropower plant supplying Mozambique's industry and exporting power into the Southern African Power Pool.
Nacala Logistics Corridor
Rail and port corridor serving coal, graphite and general cargo from northern Mozambique and Malawi.
Port of Maputo
Southern Mozambique deep-water port serving regional mineral, metal and agricultural exports.
Afungi LNG Park
Onshore industrial site hosting liquefaction trains, marine facilities and support infrastructure in Palma District.
Port of Pemba
Logistics base for offshore and onshore activity in the Rovuma Basin.
People
Related news
Government reaffirms sovereign guarantee to Mozambique LNG creditors
Mozambique's government has reaffirmed its sovereign guarantee to the lenders financing the Mozambique LNG project, as reported by Club of Mozambique.
Eni to drill up to six wells offshore Mozambique for Coral North; third FLNG pursued
Reuters, via CNBC Africa, reports Eni plans to drill up to six wells for the Coral North project and is pursuing a third floating LNG unit in Mozambique.
Mozambique LNG works advance at Afungi as contractors remobilise
Operator communications point to renewed onshore activity on the Afungi site. Confirm scope, schedule and workforce figures directly with the operator.
TotalEnergies completes entry as operator of Namibia's PEL83, holding Mopane
TotalEnergies now holds a 40% operated interest in PEL83 alongside Galp (40%), Namcor (10%) and Custos (10%), after completing its December 2025 transaction with Galp.
Guinea presses for domestic alumina refining
Policy signalling continues to favour in-country value addition over raw bauxite export, with power supply the decisive constraint.
Related intelligence
From molecules to metal: can Mozambique convert gas into industry?
Mozambique's strategic question is not whether it can export LNG, but whether any of those molecules become domestic industrial capacity.
Country intelligence: Mozambique resource economy
Gas, graphite, coal, heavy sands and aluminium in one economy — and the infrastructure that determines whether they connect.
African liquefaction capacity: what is actually under construction
Separating announced capacity from sanctioned, financed and physically progressing capacity across Nigeria, Mozambique and Egypt.
Africa's critical minerals: concentrate exporter or materials producer?
Graphite, lithium, nickel and cobalt endowments are established. Processing location is the open question that determines value capture.
Why bauxite value addition keeps stalling
Alumina refining is capital-heavy and energy-intensive; the economics turn on long-term power price, not on ore availability.
- Instituto Nacional de Petróleo (INP), Mozambique
Licensing rounds
Last verified 26 Aug 2026Partially verified - TotalEnergies
Mozambique LNG project page
Last verified 26 Aug 2026Verified
Every factual record carries its source organisation, link and verification status. Where a value cannot be verified from a primary public source, Nexus records it as not available.
