African countries natural gas
Home Opinions Insight & Analysis Top 6 African Countries with the most Natural Gas Reserves
Insight & Analysis - February 22, 2022

Top 6 African Countries with the most Natural Gas Reserves

In 2025, Africa's production will expand by 150% to 84 million tonnes per year. This equates to 15 to 20% of the global market.

African countries have an estimated 800 trillion cubic feet of natural gas reserves with a projected 80% production in 2035 by British petroleum (BP). This will increase Africa’s gross domestic product (GDP) and market value.

According to the International Energy Agency (IEA), natural gas has contributed to about one-third of worldwide energy demand increase over the previous ten years, more than any other fuel. It is responsible for roughly 23% of global primary energy consumption.

With the current state of African countries, oil and gas resources are, therefore, essential income and energy to the continent’s economic growth and revenue expansion. According to Akap Energy, by 2025, Africa’s production size will expand by 150% to 84 million tonnes per year. This equates to 15 to 20% of the global market.

Here is the list of African countries with the most natural gas reserves.

NIGERIA

Nigeria has the biggest natural gas reserves on the continent and is 9th on the world’s list. As of the second quarter of 2021, the country had 206.53 trillion cubic feet of natural gas deposits. This amounts to around 2.6% of the world’s total reserves. In 2020, the natural gas reserves in the country were more than 200 trillion cubic feet. The Nigerian Liquefied Natural Gas (LNG) Company is the country’s largest natural gas operator.

ALGERIA

Algeria is the second African country with the highest natural gas reserves and 11th in the world. The country has 159.1 trillion cubic feet of natural gas reserves, accounting for 2.3% of global reserves. In 2020, the country produced about 85 billion standard cubic meters of natural gas, thus making it Africa’s largest natural gas producer.

Algeria is Africa’s largest country and the world’s sixth-largest exporter of natural gas. The country’s primary source of income is hydrocarbons, which deliver a significant quantity of natural gas to Europe. Natural gas is mostly exported or utilised locally for power generation after extraction and production operations. The state-owned oil company, which is also the largest in Africa, Sonatrach, is in charge of about 80% of the country’s hydrocarbon production.

MOZAMBIQUE

Mozambique is ranked 14th globally and has over 100 trillion cubic feet of natural gas reserves, accounting for about 1.4% of global reserves. Most of the country’s natural gas exploration occurs in Areas 1 and 4 of the Rovuma Basin 50,000km2, managed by Total S.A., ExxonMobil, and Mitsui of Japan.

EGYPT

Egypt is ranked 16th on the world list with natural gas reserves of roughly 63 trillion cubic feet and accounting for 1.1% of the world reserve. Egypt’s economy is one of the most developed in the Middle East and Africa, and it is the continent’s major user of oil and natural gas. Imports of liquefied natural gas and natural gas pipelines have become profitable.

LIBYA

Libya is ranked 21st globally, with 53.14 trillion cubic feet of natural gas reserves contributing 0.8% to the global reserve. The country is a major natural gas supplier to Europe, using LNG and pipelines. This contributes virtually all export profits and more than a quarter of Libya’s GDP. Libya’s state-owned National Oil Corporation is the country’s main oil business, producing 70% of the country’s crude.

ANGOLA

Angola is the 40th globally and the second-largest oil producer in Africa, following Nigeria. As of 2021, the country has  12.11 trillion cubic feet of natural gas reserves, contributing 0.14% to the world reserve. The economy is heavily reliant on its hydrocarbon industry, with crude oil generating one-third of its GDP and over 90% of its exports.

 

READ ALSO: Top 5 African Countries with Functional Refineries 

 

Leave a Reply