With the uncertainty trailing oil exports and revenue due to the lingering impact of the pandemic, PriceWaterhouseCoopers (PwC) has advised Nigeria and other African countries to be strategic in their energy transition plans, while exploring opportunities in gas development.
Noting that much of Africa’s gas supply growth will come from Nigeria, PwC, in its Africa Oil and Gas Review 2020, themed energising a new tomorrow, added that the positive outlook for natural gas, which is often termed the renewable bridging fuel due to its lower carbon footprint, will see stronger price and demand recovery as countries move to rebuild their economies.
The report reflected the opportunities in gas export for Nigeria, noting that Africa consumes 63% of its total gas production, predominantly for power generation, even though the continent’s gas exporting countries saw a total decline of more than 6% in 2020 from 39.7 mtpa in 2019 to 37.3 mtpa in 2020…
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