Africa’s Liquefied Natural Gas consumption and production is set to become one of the fastest growing sub-sectors globally through 2040, a new report has forecast.
The report, ‘Africa Energy Series: Africa LNG Special Report 2021’, was launched on Monday, March 1, 2021 by the Africa Oil and Power.
According to AOP, the report is dedicated exclusively to LNG development and investment across the continent and driven by new discoveries and progressive gas-focused policies.
It said, “Africa Oil and Power has launched its ‘Africa Energy Series: Africa LNG Special Report 2021’ dedicated exclusively to outlining the investment and development opportunities within Africa’s LNG landscape.”
With African natural gas consumption expected to grow at an average of 3.3 per cent per year, to reach approximately 195 billion cubic metres in 2025 and up to 380bcm in 2050, the report identifies new and emerging gas markets, provides insight into several large- and small-scale projects across the continent and delineates key success factors of project financing and execution.
In addition to rendering in-depth analysis of production and export potential through a global gas forecast, it also detailed the role of LNG in advancing Africa’s energy transition; facilitating local capacity building and knowledge transfer; and meeting outstanding power generation needs across the continent via gas-to-power potential.
“Aligned with the rise of LNG hotspots across the continent – in which Mozambique is set to become a global gas exporter by 2023 – Africa Oil and Power will host a series of technical workshops featuring leading industry voices in Maputo on March 9, 2021, which will be broadcast virtually to local and global audiences.
“Mozambique has garnered significant international attention due to significant offshore gas discoveries, equating to approximately 100 trillion cubic feet and corresponding to large-scale LNG developments, including Total’s Mozambique LNG and ExxonMobil’s Rovuma LNG,” it added.
