Nigeria: Investments in the Gas Sector [Business Africa]
The gas sector is doing well in Nigeria, the country announces a production of 30 million tons per year over the next few years.
Africa could supply up to 20% of the world’s natural gas needs by 2025. This is according to the latest report of the African Energy Chamber on Africa’s Energy Outlook for 2020.
Discoveries in several countries in recent years show nearly 200 billion cubic feet of gas reserves, enough to supply two-thirds of current global demand for 20 years.
And Nigeria could well become Africa’s largest gas producer, with a predicted capacity of 30 million tonnes of liquefied natural gas per year.
Jeff Mbanga, an online oil and gas analyst based in Kampala, Uganda, explains the continent’s potential and the different methods of economic diversification.
