MSGBC 2023: Prospects for Natural Gas in a changing energy landscape

During the second day of the MSGBC Oil, Gas & Power 2023 conference, an insightful panel discussion, supported by the National Industrial and Mining Corporation, brought together regional and international energy leaders to discuss the role of natural gas in the global energy context. Panelists examined market changes driven by the global energy transition, sustainable development, and technological innovations in the industry.

Natural gas in Africa, seen as a means of stabilizing the shift to renewable energies and reducing carbon emissions in the short term, could promote electrification and socio-economic development in Africa, while enabling the monetization of resources. Experts predict an increase in the share of natural gas in the global energy mix to 26% by 2050.

Rafik Amara, Senior Gas Analyst at the Forum of Gas Exporting Countries, emphasized the enormous potential of gas, predicting that it will surpass coal in the next three to four years and become the most widely used fuel as early as 2040.

With over 100,000 billion cubic feet of natural gas, the MSGBC region is well positioned to attract foreign investment, while fostering regional collaboration and integration. Panelists also highlighted the importance of regional development in power generation and LNG exports.

Ismail Mohamed Sid Ahmed from Kosmos Energy spoke of the need for innovative programs to develop these resources, and the duality between power generation and LNG exports as a viable business model.

Natural gas is expected to account for around 30% of the total increase in energy demand in Africa by 2050. Major discoveries in the MSGBC region, such as the BirAllah, Grand Tortue Ahemyim and Yakaar Teranga fields, are crucial to electrification and industrial development in West Africa.

Pierre-Edouard Crouzier of Technip Energies underlined the role of innovation in the realization of the projects discussed at the conference. Substantial investment and long-term contracts are needed to exploit the region's natural gas potential. Khroumbaly Lehbib from the Mauritanian Ministry stressed the importance of a favorable investment environment.

GE Vernova's Ousmane Ndoye highlighted the role of natural gas as a rapid solution for access to electricity, and as a reliable and sustainable transitional energy source. The panel concluded by stressing that improved infrastructure is essential to boost gas demand in West Africa and provide rapid access to energy for the millions of Africans living without electricity.