Business · Energy & Commodities · 3 hrs ago
Sub-Saharan Africa’s LNG exports forecast to rise nearly 175% by 2034
Sub-Saharan Africa’s LNG exports are forecast to nearly triple by 2034, rising from 35.7 billion cubic meters in 2024 to 98 billion, according to Fitch.
Buyers seeking gas supplies outside Middle Eastern shipping chokepoints are turning more attention to African producers.
The African Energy Chamber projects the continent’s upstream energy sector will attract about $40 billion a year through 2030.
Mozambique is advancing several major LNG projects, including a plant whose construction resumed in January and an offshore project targeting operations in 2028.
In Nigeria, the Train 7 expansion is expected to raise Nigeria LNG’s capacity to 30 million tons a year from 2027.
The expansion could make Africa a larger global gas supplier, while also supporting plans to develop gas use within African markets.
The forecasts depend on projects moving forward, including Mozambique’s Rovuma LNG, which is targeting a final investment decision in late 2026.
Fitch forecasts Sub-Saharan Africa’s liquefied natural gas exports will rise nearly 175% to 98 billion cubic meters by 2034.
The forecast compares with exports of 35.7 billion cubic meters in 2024.
The article attributes the expected growth to expanding infrastructure and floating LNG projects.
Mozambique and Nigeria are among the countries developing major LNG projects and infrastructure.
The article says buyers seeking alternatives to the Strait of Hormuz are turning to African gas.
- Who
- Fitch made the export forecast.
- What
- Sub-Saharan Africa’s LNG exports are forecast to rise nearly 175%, reaching 98 billion cubic meters.
- When
- By 2034, compared with 2024.
- Where
- Sub-Saharan Africa.
- Why
- Expanding infrastructure and floating LNG projects are expected to support growth. The article also describes buyers diversifying away from the Strait of Hormuz.
This story does not have two clearly opposing sides.
Sub-Saharan Africa’s LNG exports were 35.7 billion cubic meters.
The Senegal-Mauritania Greater Tortue Ahmeyim project shipped its first LNG cargo.
A final investment decision is targeted for the Rovuma LNG project in Mozambique.
Commercial operations are targeted for Eni’s Coral North floating LNG project in Mozambique.
Fitch forecasts Sub-Saharan Africa’s LNG exports will reach 98 billion cubic meters.
- Forecast exports
- 98 billion cubic meters by 2034
- Increase
- Nearly 175%
- 2024 exports
- 35.7 billion cubic meters
- Coral North target
- Commercial operations in 2028
- Rovuma LNG target
- Final investment decision in late 2026