Africa is currently a small but growing part of the global gas picture, and its prospects are even brighter still.
In this report, we look at current industry fundamentals and activity in Africa, and at the expectations of and potential for natural gas in Africa.
With relatively open access and generally attractive leasing terms, Africa’s oil and natural gas resources have long attracted a broad spectrum of investors, including:
- large integrated, international majors
- large and small independent exploration and production (E&P) companies
- national oil companies (NOCs) from outside the region
Development of Africa’s unconventional gas resources could substantially add to the potential new supply.
Natural gas development holds tremendous opportunity for Africa, and it can be a strong “prime mover” for broader economic and social development. But those opportunities come with risks and challenges — some beyond the control of local/regional industry and government, others that can be managed, but will need resolute and dedicated attention.
Most importantly, the opportunities for Africa presented by the Golden Age of Gas are enormous and the challenges and risks can be addressed and mitigated, if not fully overcome.