Europe Can Look To Africa As Preferred Gas Supplier

Europe Can Look To Africa As Preferred Gas Supplier

With recent sanctions on Russia by western nations threatening the critical supply of Russian gas to European markets, an opportunity has emerged for African gas producers to step up, enhancing hydrocarbon production and exports to meet international supply gaps. Significant progress has already been made to establish Africa as a viable gas export market, and now, with geopolitical tensions rising, Africa should focus on establishing itself as the preferred supplier to international markets.

The withdrawal and disruption of supply channels from Russia, as the second largest gas producer globally and the biggest supplier of natural gas to Europe, will not only send Europe into a deeper energy crisis, but will cause price hikes globally. However, this represents a golden opportunity for Africa. On February 22, 2022, member states of the Gas Exporting Countries Forum (GECF) met in Doha, Qatar to discuss the impact of the mounting tensions between Russia and Ukraine and its impact on the global gas market. In the Doha Declaration – issued after the meeting concluded – parties emphasized that despite their commitment to increasing gas production to meet growing energy demand globally, they do not have the capacity to help Europe replace 40% of its energy consumption