The Africa Gas Forum appeals to anyone interested in capitalising on the opportunities presented by the gas sector in Africa. This premium side event of the Africa Energy Indaba provides the quintessential platform from which low carbon alternatives will be thoroughly unpacked, addressing the associated challenges and discussing the various solutions thereof.
According to the International Energy Agency (IEA), the demand of natural gas will outpace oil and coal by 1.6% per year over the following 5 years. This growth will be accelerated by factors such as abundant supply, low prices, and its part in decreasing air pollution and other emissions. Gas, the last of the fossil fuels to experience peak demand, is set to become the world’s key energy source towards 2050 owing to the availability of shale gas and the increase in the liquefied natural gas (LNG) trade.
Africa is set to become a leading gas market and has the potential to become a significant market for the development of liquefied natural gas (LNG) with many African countries exploring the natural gas potential. There have been rapid developments in West Africa’s gas sector as seen from Senegal to Angola. Although significant gas discoveries in Mozambique, Kenya and Tanzania have caused a concurrent surge of gas in the regions, foreign and, or private investment is necessary if developments and infrastructure associated with these discoveries are to be realised. Africa’s Shale Gas exploration has been triggered by the emergence of Shale Gas and the commissioning of the Strategic Environmental Assessment of Shale Gas by the South African Government. At the end of 2016, Africa was reported to have had proven natural gas reserves of 503.3 Tcf (trillion cubic feet), indicating an increase of around 1% in total gas reserves on the continent.
It is predicted that global economies will increasingly become gas-based as they explore cost-effective solutions to create value from flared gas and evaluate innovative technologies that enable transportation of gas from remote offshore fields. This rise in gas consumption will lead to greater investment in both the short and long term across natural gas supply chains.