The revenues derived from the exploitation of natural resources, which the Mozambican state intends to control and manage through a transitory account domiciled at the Bank of Mozambique, called the Sovereign Fund, have already begun to revert to the country.

Notícias reports that this year alone, 7.285.74 million meticais, resulting from the exploitation of natural gas, was transferred to the Sovereign Fund's transitory account.

The source said that gas revenues amounted to 114 million US dollars, corresponding to 74.1 million in 2023 and 39.8 million in the first half of this year.

The state is expected to reach peak annual revenue absorption in 2040, in the order of six billion dollars.

Projections point to annual export growth of over 91.7 billion dollars during the life cycle of the projects.

Exports of liquefied natural gas (LNG) from the Rovuma basin in Cabo Delgado province have already resulted in 71 shipments, corresponding to 5.7 million tons.

Under the terms of the Law, the transitional account must be identified under the heading of internal revenue, with the description of transitional revenue from oil and gas. It should only make transfers to the Single Treasury Account and the Sovereign Fund Account.

The transitional account thus receives resources in US dollars from the Petroleum Production Tax, Corporate Income Tax, including amounts resulting from taxation of capital gains, production bonuses and production sharing from profit oil.