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Africa's Natural Gas Sector is Poised for Growth and Transition in 2024

South Africa's Mpumalanga province is set to host the country's largest onshore LNG project, thanks to a joint venture between Kinetic Energy of Australia and the Industrial Corporation of South Africa (IDC). The project will use Kinetic Energy's newly discovered natural gas resource to generate up to 500 MW of clean energy, boosting the country's economy and reducing its coal dependence. 

South Africa is part of a global and continental trend of increasing natural gas production, as the African Energy Chamber (AEC) reports in its latest outlook. Natural gas is seen as a key transition fuel for a low-carbon future. The AEC will support the Invest in African Energy Conference in Paris this year, organized by Energy Capital and Power. African Energy Week will be the ultimate platform for natural gas investment in Africa.
Africa has a huge natural gas potential that can boost its production and exports, especially in the LNG market. Report projects signifies Africa’s natural gas output will increase from 265 Bcm in 2023 to over 280 Bcm in 2025. 
North Africa leads the production, but Mozambique and other countries will also ramp up their output in the coming years. Nigeria and Algeria will focus more on LNG exports, along with Egypt, Equatorial Guinea, Mozambique, and Senegal-Mauritania.
Africa’s natural gas sector can help the continent transition to a low-carbon future, with the support of the companies operating here. However, Africa needs the developed world to respect its own pace and path of transition, not to impose their agenda on it.
Source : Africa Oil & Gas
Posted On: 2/9/2024 12:00:00 AM

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