By Africa.com | Created at 2024-12-13 07:06:21 | Updated at 2024-12-21 17:11:42
1 week ago
Africa holds immense natural gas reserves, totaling over 17.89 trillion standard cubic meters as of 2023, positioning the continent as a potential energy powerhouse. Nigeria leads with 5.94 trillion cubic meters, followed by Algeria with 4.5 trillion cubic meters, while Mozambique, Egypt, and Libya also hold significant reserves. Africa produced 253 billion cubic meters of natural gas in 2023, marking an 87% increase since 2000. Algeria, Egypt, and Nigeria dominate both production and export. Europe absorbs most of the continent’s 109.3 billion cubic meters of exports, especially from North African countries like Algeria due to proximity. Despite its vast potential and rising global demand for natural gas, challenges such as outdated infrastructure and stagnating production could hinder Africa’s ability to fully leverage these resources. With reserves projected to last another 55.7 years, Africa’s energy future depends on addressing these hurdles effectively.
SOURCE: BUSINESS INSIDER
