LNG production capacity in Nigeria, Angola and other Sub-Saharan countries to shoot up by 2029

LIQUEFIED NATURAL GAS (LNG) production capacity in Nigeria and other Sub-Saharan countries is expected to be skyrocket over a 10- year forecast period, according to a report recently released by Fitch, as demand growth is expected to be mainly driven by Asian emerging markets.

Data shows that Asian buyers already accounted for 38 percent of LNG exports from SSA producers at the time, only Angola, Nigeria and Equatorial Guinea.

“We forecast this trend to accentuate as Asian markets increasingly and themselves in the driving seat of global LNG demand.

Looking ahead, this trend is also illustrated by the pre-eminence of Asian buyers in GSPAs for some LNG projects in Sub-Saharan Africa, such as Anadarko’s Mozambique onshore project, scheduled for FID next year,” the report said.