Business
Five ‘boom towns’ that should be on every investor’s radar
Wednesday, July 4, 2012
2. Pemba (Mozambique)
Port of Pemba. PHOTO/Terry Hutson
Pemba is a port city in northern Mozambique. It is traditionally known as a tourist destination, but these days Pemba is an important centre for northern Mozambique’s offshore natural gas fields in the Ruvuma basin.
US-based Anadarko Petroleum and Italian oil & gas company Eni, have both recently announced significant gas discoveries in their respective blocks. These discoveries are important because of the size of the reserves as well as Mozambique’s relative proximity to markets in Asia.
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