The growing importance of adopting cleaner ways to generate electricity worldwide has brought LNG into the spotlight as one of the most affordable and less environmentally damaging fuels. Singapore, with its strategic location, has daring plans to grow into the preferred trading hub for LNG in Asia.
After many years of chaos, Mozambique finally experienced a period of blossoming economic growth following 2001. Several major foreign investment projects, continued economic reform, and the revival of the agriculture, transportation, and tourism sectors were key factors propelling the country towards a sustained annual GDP growth greater than 5.8% since 2005, and over 7.0% from 2011 onwards. According to the World Bank, the forecast of the annual GDP growth until 2017 in the country is greater than 7.4%.
Adding to this economic boom, the discovery of immense natural gas reserves came as a sign from above that prosperity in Mozambique would be unstoppable.