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, according to a report on www.esi-Africa.

A new report by PwC says: “Africa is the last true oil and gas frontier with more than 4,200 oil and gas blocks identified.

“The continent has proven natural gas reserves of 513 trillion cubic feet (Tcf) with 91 per cent of the annual natural gas production of 7.1Tcf coming from Nigeria, Libya, Algeria and Egypt.”

The report added: “Almost half of Africa’s gas blocks are open, subject to force majeure or in the application phase. More than 80 per cent of the 1,300 blocks in North Africa are licensed, while in sub-Saharan Africa it is estimated that only about 30 per cent of 2,900 blocks are licensed."

And it concluded that there are major opportunities for international players in the sub-Sahara: “In the sub-Saharan regions it is evident that many new opportunities still exist, especially for exploration and production (E&P) companies that are willing to take risks.”

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