Natural gas projects fuel $5.7bn foreign direct investment into Mozambique in 2025

Published: 2026-05-14 01:05:08 ET XOM

Published on 05/14/2026 at 01:05 am EDT

Mozambique attracted $5.7bn in foreign direct investment (FDI) in 2025, with the extractive sector accounting for 92% of the inflows, Lusa reported on May 13.

In 2024, total FDI into the southeastern African economy was $3,6bn, the news agency wrote, quoting a report by the central bank.

“The growing evolution of FDI from the GP (gas projects), observed in recent years, is essentially justified by the increased inflow of capital associated with oil and gas industry projects, focusing on hydrocarbon prospecting and research activities in the Rovuma basin, in addition to the revitalisation of the coal and heavy sands industry,” states the Bank of Mozambique report.

Mozambique has up to 180 trillion cubic feet of commercially recoverable gas, mainly in the offshore Rovuma Basin to the north. International oil companies such as ExxonMobil (NYSE: XOM), TotalEnergies (Paris/LSE/NYSE: TTE) and Eni (BIT: ENI, NYSE: E) will invest up to $64bn in projects to produce around 40mn tonnes of liquefied natural gas per year.

ExxonMobil aims to make a final investment decision for its $30bn project this year.

The central bank document noted that over the last few years, the flow into companies that are not part of the GP category “showed mixed behaviour, having recorded, in 2021, its highest point as a reflection of the investments made” by these entities, “to respond to the demand of the GP, in the component of transport, storage, and communications.”

The extractive industry “maintained its position as the largest recipient of investment flows, totalling $5.2bn, representing 91.5% of the total FDI and an increase of 68.2% compared to 2024.

Manufacturing was second with $121mn, equivalent to 2.1% of total FDI, down 10.4% in 2024.

The country expects to attract $5.9bn in FDI this year, driven by natural gas projects. This growth will be “influenced by the implementation of structural projects in the Rovuma basin,” for the production of liquefied natural gas (LNG), according to the supporting documents for the Social and Economic Plan and State Budget for 2026.