Wednesday 29 October 2008

Is gas Mozambique's answer to high fuel prices?

BP announced record fuel profits of £6.4 billion over the last 1/4, but fuel prices are still at a record high in the UK. In Mozambique and the rest of Southern Africa fuel as nearly doubled over the last 1.5years from 6 South African Rand/litre to over R10/litre. The result has been increases in food, transport and living costs which has also effected the tourism sector.

Mozambique struck gold with their offshore gas supplies in the Pande and Temane fields. A recent Reuters report estimated reserves at 3.6 trillion cubic feet, and it looks like Mozambique is going to take advantage of this resource by not just becoming a world supplier of natural gas but running it's local buses on it as well!

Mozambique has ordered gas powered public transport from china and as a result hopes to reduce its dependence on imported fuel. Here in Brighton chips are used instead of natural gas. The Lemon bus company are running their buses on chip fat from local cafes and restaurants. Now I know why I feel a craving for chips when I walk to work!

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