Southern Africa’s energy landscape is set to change significantly within five to six years, according to Mr Eardley-Taylor. For instance, South Africa’s renewable sector has seen outstanding growth over a two to three year period. Standard Bank expects to see the same occur in the oil and gas sectors. He says that within the next three to four years, there will be major developments in offshore gas in both Mozambique and South Africa, as well as offshore shale gas. Gas finds in Mozambique are reported to be 50% more than in the North Sea. The gas has the potential to supply the country and the Asian market for 50 years.
Mr Eardley-Taylor says that the country needs to work out the specifics of global and local supply. They also need to consider beneficiation of gas for long-term sustainability. He points out that Mozambique’s Gas Master Plan has been “very impressive so far.” He points out that Africa has its destiny in its hands and it is up to the continent to mobilize its resources. “We are encouraged by the continent’s continuous development and we are happy to play a role in their growth.”