Wednesday 16 May 2012

East Africa's energy boom depends on Abu Dhabi's model - The National

East Africa stands on the edge of one of the largest energy discoveries in modern times, but is ill-prepared to manage it. Unless it can avoid the "resource curse", the wealth could be a bane and not a blessing. This is where Abu Dhabi could help.

From Mozambique to the south and as far north as Somalia, stretching inland to the edges of Sudan's already prolific fields, lie billions of cubic metres of energy reserves. Explorations show that up to 65 billion barrels of oil and gas lie under the waters of the Indian Ocean.

Few regions need this unexpected bounty more. This stretch encompasses some of the poorest nations on earth. More than half of the people of Mozambique, for instance, live on less than a dollar a day, the median poverty line.

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