Africa’s LNG Exports Set to Soar 175% as Buyers Flee Hormuz

Energy buyers burned by the Strait of Hormuz are turning to Africa, and the money is following. 5 MMboe/d. Mozambique, Nigeria, Angola, Libya and Ivory Coast will take the largest shares of that capital, while new projects in Uganda, Kenya and Namibia expand the production base. Major offshore discoveries and a wave of upstream deals are turning Africa into the world's next natural gas and LNG frontier.

Sub-Saharan Africa SSA has emerged as a premier frontier for this global diversification strategy, offering large reserves of uncommitted gas entirely outside the Middle Eastern chokepoints. 7 bcm in 2024. Meanwhile, the continent's growing appetite for natural gas is expected to play a big role in driving infrastructure development, with Africa's natural gas demand projected to grow by 60% by 2050.