Nigeria overtakes Maghreb in the LNG race

In Africa, several nations have significant natural resources, including gas, oil and precious metals such as gold and lithium. This abundance of natural wealth is a major asset for the region's economy, especially for countries like Nigeria.

At the start of 2024, Nigeria has established itself as the leading exporter of liquefied natural gas (LNG) on the African continent, taking over the regional leadership from Algeria. In 2023, Algeria had surprised many market players by meeting the needs of European countries following the interruption of Russian gas imports due to the war in Ukraine.

Despite growth in Algerian LNG exports of around 3.4% in the first quarter of 2024, with a total of 3.01 million tonnes exported worldwide compared with 2.9 million tonnes in the same period the previous year, it was Nigeria that regained its dominant market position. In the MENA region, however, the United Arab Emirates recorded the strongest growth, with an increase in LNG exports of 25.6% to 1.57 million tonnes, although this figure remains below that of their main regional competitors. Other countries also benefited from this trend, notably Qatar, which recorded a 1.7% increase in gas exports. This sustained demand is partly explained by the many geopolitical uncertainties around the world.

Strategic alliances and geographical locations favor certain countries in this context. Algeria has thus positioned itself as an attractive alternative for many nations, notably Italy and France, seeking to bypass Russian gas supplies, which are increasingly controversial due to the situation in Ukraine. This dynamic benefits Algiers, enabling it to develop its gas sector.