JOHANNESBURG, South Africa, February 9, 2021/ -- ACTING’s
inaugural report offers most comprehensive resource on Sub-Saharan
Africa’s natural gas market trends; Africa to witness increase
localization and regionalization of LNG trade on the back of AfCTFA and
competitive gas prices; Domestic gas monetization enters a new era of
growth in West and East Africa, supported by significant gas-to-power
capacity addition; African gas is
entering a true decade of diversification with small-scale LNG (Nigeria,
South Africa), coal-bed methane (Botswana, South Africa) and helium
(Tanzania, South Africa) developments taking shape.
The
African Coalition for Trade & Investment in Natural Gas (ACTING) is
pleased to announce the release and publication of its inaugural “State
of Play: African Gas” report, providing the most comprehensive resource
on Sub-Saharan Africa’s natural gas markets.
As several African
nations seek to increase the consumption and monetization of natural gas
across their economies, the ACTING report highlights that the continent
remains one the lowest consumer of gas globally. Low gas penetration
rates in sub-Saharan Africa contrast with the vast amount of natural gas
reserves found onshore and offshore from Senegal to Mozambique and
whose development could lift millions out of poverty and provide the
resource the continent needs to industrialise.
By gathering
several datasets in a single resource, ACTING’s “State of Play: African
Gas” report combines the most up-to-date and accurate information on
sub-Saharan African gas markets. It notably reveals that the growth of
Africa’s natural gas consumption and production is set to be one of the
world’s fastest until 2040 on the back of new LNG projects and strong
policy support for natural gas consumption across industries, transport
and power. It showcases true success stories in domestic gas
monetization in Côte d'Ivoire, Cameroon and Tanzania, and reveals the
true diversity of African gas experiences with associated and
non-associated gas, LNG, LPG, methane, coal-bed methane, helium and
hydrogen.
“An in-depth look at the natural gas dynamics across
the sub-continent shows the diversity of each country’s experience with
natural gas and the tremendous potential there is for regionalization
and cross-border gas cooperation. Natural gas has the potential to be a
true enabler of economic recovery post Covid-19 and to support Africa’s
energy transition, and this platform will unlock new investment and
ultimately create jobs,” stated Nj Ayuk, Executive Chairman at the
African Energy Chamber.
Chief amongst the report’s finding is the
upcoming growth in gas-to-power generation capacity across sub-Saharan
Africa. ACTING expects a 55% growth in grid-connected gas-to-power
generation by 2025 on the back of greenfield and brownfield projects and
the conversation of coal and diesel power plants to gas in Senegal and
South Africa. West Africa is the region expected to see the biggest
gas-to-power capacity addition by 2025, with at least 750 MW in Senegal,
643 MW in Côte d'Ivoire, 450 MW in Nigeria, 200 MW in Ghana, 150 MW in
Benin and 65 MW in Togo.
“The inaugural report of ACTING lays the
foundation for the kind of work and research the Coalition wishes the
grow with its institutional and industry partners,” declared Mickael
Vogel, Director at Hawilti and coordinator of ACTING. “Information and
data on gas markets in sub-Saharan Africa is extremely scarce, which
negatively affects the ability of investors and developers to make
proper deals and sound decisions. Now is the time for all stakeholders
to come together and build the kind of trust and confidence the market
needs to benefit the continent at large.”
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