Hello Russia, will more gas from Africa arrive for Europe?
Because Africa (primarily Algeria) could be a possible alternative to gas for Europe. The article by Giuseppe Gagliano
The crisis in Ukraine and Europe's dependence on gas could open the doors of Africa to Europe, which could represent a viable alternative. According to the new State of African Energy outlook published by the African Energy Chamber , global LNG demand will grow at a compound annual growth rate of 5% over the next two years. A supply shortfall is in the offing from 2024, as increasing environmental pressure to end coal-fired generation leads to an increased appetite for gas.
BUY GAS FROM AFRICA? WHO PRODUCES THE MOST
Mozambique leads the way in terms of recoverable African natural gas with 52% of the total, Rystad data shows. Plans to develop Mozambique's onshore LNG have been delayed by an extremist Islamic uprising in the north of the country Mauritania and Tanzania each have 12%, with Nigeria and Senegal each with 7%.
Other countries make up the remaining 10%. Algeria's proximity to the European market makes it a potential gas supplier for Europe. The country is the largest gas producer in Africa and the sixth largest gas exporter in the world. It plans to double exploration and production over the next five years. The time may also be ripe for Africa to attract investment in its gas infrastructure.
NIGER, ALGERIA AND NIGERIA MOVE
This month, Niger, Algeria and Nigeria signed an agreement that will see the development of the trans-Saharan gas pipeline resume. The planned $ 13 billion pipeline will connect Warri in Nigeria to Hassi R'Mel in Algeria via Niger. The goal is to transport 30 billion cubic meters of natural gas to Europe per year. Tanzania deserves particular emphasis. Tanzania's gas reserves are estimated to be the sixth largest in Africa. In particular Kilwa, Songo Songo and Mnazi in southern Tanzania. Altogether Tanzania has a deposit of around 57 trillion cubic feet.
JP MORGAN: EUROPEAN BILLS INTENDED TO DOUBLE
Diversification efforts are already underway in Europe, given the rise in energy prices seen from gas last year. JP Morgan Chase suggests that Europe's gas bill will double from $ 500 million in 2019 to $ 1 trillion in 2022, even without the Russian crisis. From this point of view, France is moving very quickly by signing agreements between Totolo and Tanzania: they were in fact invited to Tanzania to invest more in LNG.
WHAT DO THE ENERGY COLOSSES DO?
But other multinationals are also moving quickly in this direction: Royal Dutch Shell and the Norwegian company Equinor have plans to build an LNG terminal in Lindi, southern Tanzania, from 2014. However, progress has been undermined by the revised terms. introduced by the Petroleum Act 2015 of Tanzania, the Finance Act of 2016 and a series of natural resource laws promoted by the late Magufuli in 2017. These allowed the authorities to renegotiate previous production sharing agreements in their favor and in lesser terms. attractive to investors.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/primo-piano/ciao-russia-arrivera-piu-gas-dallafrica-per-leuropa/ on Sun, 27 Feb 2022 08:03:44 +0000.