New discoveries and increasing oil and gas reserve estimates have made East Africa “one of the world's most interesting oil and gas hotspots", with global business intelligence company, Visiongain, forecasting "tens of billions of dollars of investment over the next decade".
Visiongain’s 'East African Oil & Gas Market 2015-2025' report pointed out that a flood of outside investment in the region – which saw oil and gas capital expenditure (capex) of US$4.19bn in 2015 alone – would drive growth in the sector across East Africa over the next decade.
According to Visiongain, Ethiopia's oil capex is expected to rise from US$47m to US$432m by 2025, with Kenyan oil and gas capex to hit US$482m this year.
Mozambique and Tanzania are also both expected to benefit from liquefied natural gas (LNG) exports, particularly given their "proximity to Asian demand centres".
‘Tens of billions of dollars to be invested’ in East African oil and gas industry
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