According to the energy outlook of the International Energy Agency (IEA), the share of natural gas in the energy mix of the African continent will increase from 5% currently to 25%, within the next 20 years .
The continent will then become a major player in the natural gas markets, as a producer, consumer and exporter, with production already expected to more than double before maturity.
This improvement in production will be led by Mozambique, Tanzania, Mauritania, Senegal, Egypt and South Africa. These countries alone account for 40% of the major gas discoveries recorded between 2011 and 2018.
“This development could be in line with Africa’s industrial growth and its need for a reliable supply of electricity. Africa will experience a dramatic increase in population and a rapid industrialization of its economies, which will accelerate in the coming decades , “ read the report.
However, the Agency is concerned about the evolution of the gas infrastructure, which will be a major challenge in achieving these prospects. While upstream efforts are laudable, those aimed at achieving and improving infrastructure remain mixed, the document adds.
As for oil, the IEA believes that its production on the continent will peak over the next two decades, because of the preference for gas that will be more affordable. As a result, oil production will reach 8.4 million barrels a day, compared to 8.2 million barrels a day in 2018.
Source: Agence Ecofin