Africa to Double its Share of Global Natural Gas Supply by 2050

SEATTLE (Oil Monster): The recent study report published by the Gas Exporting Countries Forum (GECF) foresees significant boost in Africa’s share in global gas supply by 2050.

The share of the region is expected to increase from around 6% in 2021 to almost 11% by 2050. In other words, the gas production from African region is expected to surge higher from 260 billion cubic meters in 2021, to 585 billion cubic meters in 2050, it said. Africa will record the second largest growth in natural gas supply during this period, after the Middle East.

ALSO READ:

Iran Brings More Natural Gas-Fired Units Online

Algeria Regains Spot as Spain's Top Natural Gas Source

According to the report, natural gas demand in African continent will witness tremendous surge by 82% by 2050. Also, it will account for nearly 30% of the continent’s overall energy mix, thus emerging as a major contributor to economic growth. The demand for resource, including energy, is projected to increase substantially, in line with the projected increase in population from 1.4 billion to 2.5 billion by 2050.

The report predicts increased investments in rich gas reserves and the revival of LNG exports. The African LNG export capacity is projected to reach 199 million tons per annum for the period. Two countries-Nigeria and Mozambique will contribute more than 63% of the African natural gas output, the report noted.