NIGERIA, Algeria and Egypt, have been tipped to drive Africa’s Liquefied Natural Gas, LNG, export in the short term.
More than USD 10 billion is anticipated to be invested in Train 7 and the upstream portion of the LNG value chain. This will create new development opportunities in the sector and raise Nigeria’s profile in terms of foreign direct investment (FDI) and investor confidence.
When the project is finished, it will contribute to further diversifying the federal government’s revenue portfolio by creating more than 12,000 new jobs during the construction phase.
Similar to this, NJ Ayuk, the executive chairman of AEC, said that LNG is still the cleanest fossil fuel, making it significant during this stage of the energy transition.
The continent is forecast to increase its gas output from about 260 bcm in 2022 to as much as 335 bcm by 2029.”