OIES Podcast – Will there be a gas renaissance in Africa?
In this latest OIES podcast James Henderson talks to Mostefa Ouki about the potential for a resurgence in the gas sector in Africa. Following the Russian invasion of Ukraine and the decline of Russian gas exports to Europe there has been increased interest in African gas, mainly as a source of pipeline and LNG exports. Mostefa reviews the main gas players on the continent and discusses the new discoveries that have been made which could lead to major export projects. He also considers the prospects for domestic gas consumption, but also reviews the major challenges facing the companies looking to develop gas assets in the region. The most important of these is financing, and Mostefa analyses the future role of multilateral lending agencies, export credit agencies, government institutions and private capital and describes the need for de-risking of projects by appropriate actors if gas development is to proceed. He also calls for domestic government action in African countries to improve the investment climate and to encourage the new players that will be needed for a gas renaissance to really take place. Finally he discusses the need to new projects to have a low level of carbon intensity if they are to compete in a decarbonising world market