Industry Focus: Mixed performance for Africa’s gas markets in 2019 poses questions for next decade

As 2020 begins, Africa’s gas market is left with a mixed bag of achievements that only partly confirms a prediction by the International Gas Union (IGU) in early 2019 that the continent’s natural gas segment is “facing a potential turning point.” Africa hopes to exploit its 509.6 Tft3 of proven natural gas reserves, which amount to nearly 7.3% of global total reserves of 6,951.8 Tft3. A growing interest is seen in both offshore and onshore hydrocarbon assets and the on-and-off fast-tracking of announced investments to monetize previous gas discoveries. Nigeria, Algeria, Egypt and Libya have estimated proven natural gas reserves of 188.8 Tft3, 153.1 Tft3, 75.5 Tft3 and 50.5 Tft3, respective