As the EU works to rebalance its natural gas supply away from Russia, African countries are expected to gain a larger share of the bloc’s liquefied natural gas (LNG) market in the coming years.
away from Russia, African countries are expected to gain a larger share of the bloc’s liquefied natural gas market in the coming years.
To enable additional LNG imports, the EU is undertaking significant capacity expansion. From January 2022 to February 2023 it commissioned 35.5bn cu metres of gas import capacity across eight LNG terminal projects. European investment, particularly from the continent’s international hydrocarbons companies, will be integral to ramping up African exports.
Egypt sent 2.5bn cu metres of LNG to Italy in 2021 and increased its overall gas exports from 7m tonnes in 2021 to 8m tonnes in 2022.In 2021 African countries exported 58.5bn cu metres of LNG around the world, of which 32.7bn cu metres went to Europe – Algeria sent 15.4bn cu metres and Nigeria 13bn cu metres – accounting for 30% of the continent’s total LNG imports. .
Emerging producers Mauritania and Senegal are also well positioned to find buyers for their offshore gas.
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