Africa set to be major LNG exporter

Africa’s share of global gas

production will rise to a total

of 12.86 trillion cubic feet (TCF)

per annum, which will be more

than 7% of global liquefied natural

gas production.

This as the continent’s share of

global oil production continues to

decline on the back of civil war,

high production costs and low

commodity prices amongst others.

“Africa has proven LNG

reserves of 7.5% of the world’s

reserves, which could be a major

driving factor for growth on the

continent,” said Luke Havemann,

senior associate at legal firm

Bowmans’ Cape Town office in

the oil and gas sector group

He pointed out that Africa

currently contributed 14.9%

(36.3 million tonnes per annum)

to the global LNG export market,

making it the third largest

regional contributor in the world

after the Middle East (38%) and

the Asia Pacific region (34%).

According to him, there are

currently three major African

countries exporting LNG –

Nigeria (20.4 MPTA), Algeria

(12.1 MTPA) and Equatorial

Guinea (3.8 MTPA). “Angola’s

LNG plant near Luanda has

just come back on stream and

Egypt became an LNG importer

for the first time after it saw

major feedstock losses,” said

Havemann.

The top four emerging LNG

export markets are currently

Egypt, Pakistan, Poland and

Jordan in the Middle East.