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.
Africa set to be major LNG exporter
0 Comments
