The IEA’s Medium-Term Gas Report 2023 forecasts Africa’s annual gas consumption to increase by an annual average of 3% during 2022-2026. “The use of domestic natural gas production makes sense for African consumer countries, offering the considerable advantage of lower energy costs compared with fuel imports. The IEA points out that despite holding over 9% of the world’s proven reserves and a vast potential for green energy, Africa remains the most energy-poor continent. Africa accounted for nearly 40% of new natural gas discoveries globally in the past decade, mainly in Mozambique, Mauritania, Senegal and Tanzania. Challenges facing Africa’s natural gas potentialHowever, socio-political instability and security issues make Africa a high-risk environment for the gas industry.
