Africa's Natural Gas Sector Emerges as Key Global Energy Player

Nigeria is intensifying efforts to leverage its vast natural gas reserves to drive industrialization and economic growth, highlighted by the upcoming 2025 Gas Investment Forum in Lagos, which will focus on investment, growth, and industrialization under the 'Decade of Gas' policy. The Nigerian Economic Summit Group (NESG) emphasizes the need for reforms to harness oil and gas resources to boost industrial development, job creation, and economic diversification, urging proper implementation of the Petroleum Industry Act and alignment with Africa's Agenda 2063. Nigerian energy companies are also expanding regionally, exemplified by Nigeria’s First Exploration and Petroleum Development Co.'s recent agreement to explore gas fields in Tanzania, reflecting a broader strategy for growth beyond national borders. Across Africa, natural gas is becoming a pivotal element in the energy transition, with the continent positioned to significantly increase its liquefied natural gas (LNG) exports by 2030, supported by projects in Mozambique, Nigeria, Senegal, and Mauritania. Senegal is modernizing its energy sector with LNG-to-power projects and solar-plus-storage facilities, aiming for universal access and a low-carbon future, while international partnerships and investments accelerate this transformation. These developments collectively position Africa as an emerging key player in the global natural gas market and energy transition.