Mozambique Gas Exports Hit $1 Billion in H1 2025, Overtake Coal as Largest Export
Mozambique’s natural gas exports generated an average of US$5.5 million per day during the first half of 2025, sustaining their growth trajectory and reinforcing their status as the country’s leading export, according to official data.
Figures released this month by the Bank of Mozambique show that natural gas export revenues increased from US$900.7 million in the first half of 2024 to US$1.006 billion between January and June 2025, equivalent to approximately US$5.5 million per day.
This represents an 11.7% year-on-year increase, driven by higher international prices and increased export volumes.
The performance contrasts sharply with the coal sector, where exports declined significantly. Coal export revenues fell by 27%, dropping from US$1.025 billion in the first half of 2024 to US$744.1 million during the same period in 2025, causing coal to lose its long-held position as Mozambique’s top export commodity.
The report attributes the decline in coal export value to several factors, including production stoppages of metallurgical coal by some companies in the sector and disruptions to logistics infrastructure.
In particular, severe weather events in March 2025 damaged railway lines, affecting the transportation of coal output.
Additionally, the average international market price for coal decreased by 8.9%, further reducing export revenues.
Mozambique currently has three major approved development projects to exploit natural gas reserves in the Rovuma Basin, located offshore in Cabo Delgado Province. These reserves are ranked among the largest natural gas discoveries globally.
The Coral Sul project, operated by Eni, has been in operation since 2022 and remains the country’s only active offshore liquefied natural gas (LNG) facility.
Investment in a second floating LNG platform, known as Coral Norte, was approved in October 2024.
The project involves an estimated investment of US$7.2 billion and is expected to double production capacity to 7 million tonnes per annum (mtpa) of LNG starting in 2028.
After a four-year suspension caused by insurgent attacks in Cabo Delgado, the Mozambique LNG project (Area 1), operated by TotalEnergies, officially resumed operations in January 2025. The project, valued at approximately US$20 billion, is projected to reach production capacity of 13 mtpa by 2029.
A third major development, the Rovuma LNG project (Area 4), led by ExxonMobil, is estimated to cost US$30 billion.
The project is expected to produce 18 mtpa of LNG after 2030, with a final investment decision anticipated later this year.
Together, these projects position Mozambique to become one of the world’s most significant liquefied natural gas exporters over the next decade, with natural gas expected to play a central role in the country’s export earnings, fiscal revenues, and long-term economic growth.
