African Nations Pour Billions into Oil and Gas Projects Amid Global Turmoil

Africa is on track to invest billions in oil and gas production and infrastructure projects, with Nigeria at the forefront.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) expects to see the start of 22 major offshore oil and gas projects between now and 2030, with investment potential of US$30-50 billion. This is just one example of a continent-wide trend, with over 800 active capital oil and gas production, pipeline and terminal projects in Africa totalling more than US$221 billion.

Africa's expansion into energy investments is driven by geopolitical turmoil and a desire for energy security. The current global risk crisis has pushed international buyer interest in African LNG away from Middle Eastern uncertainties.