According to the estimates of the International Monetary Fund (IMF), the growth of the Mauritanian economy is expected to reach 5.1% in 2024 before jumping to 14.3% in 2025, thanks to the commencement of production from the Grand Tortue Ahmeyim (GTA) gas field, located on the maritime border with Senegal.
"We anticipate that production at the GTA field will commence in the first half of 2024, and natural gas exports will begin in the second half. This will contribute positively to GDP growth from 2024 onwards," stated the financial institution.
The GTA project is expected to produce 2.5 million tons of liquefied natural gas (LNG) annually in its initial phase.
"We anticipate that production at the GTA field will commence in the first half of 2024, and natural gas exports will begin in the second half. This will contribute positively to GDP growth from 2024 onwards," said Felix Fischer, the head of the expert mission dispatched in late October 2023 by the financial institution to Mauritania.
Fischer clarified, as reported by Bloomberg, that significant gas production capacity will only be reached in 2025.
"That's when the impact will be most significant. We forecast economic growth of 14.3% in 2025, with gas exports accounting for 11.6% of the country's total exports," he indicated.
Operated by BP and Kosmos Energy, the GTA project is expected to produce 2.5 million tons of LNG annually in its initial phase. According to the forecasts of the two companies, production volumes are expected to reach 5 million tons per year by 2027 and 10 million tons from 2030.
Mauritania is also set to strengthen its position as a rising gas power in the coming years, thanks to the exploitation of the Bir Allah gas field. The reserves of this gas field, located exclusively in Mauritanian territorial waters, are estimated at 80,000 billion cubic feet.
