Africa is attracting significant international investment in its energy sector as buyers seek alternatives to geopolitical risks associated with Middle Eastern supply routes. The African Energy Chamber projects the continent’s upstream sector will receive approximately $40 billion annually through 2030, with Mozambique, Nigeria, Angola, Libya and Ivory Coast leading capital inflows. Sub-Saharan Africa’s liquefied natural gas exports are forecast to increase nearly 175% to 98 billion cubic meters by 2034, compared to 35.7 billion cubic meters in 2024, according to Fitch ratings.
Mozambique is emerging as a key growth center following the resumption of major projects. TotalEnergies’ $20 billion Mozambique LNG facility, approximately 45% complete, restarted construction in January after a four-and-a-half-year delay caused by regional security concerns. Eni’s Coral North floating LNG project, estimated at $7.2 billion, targets commercial operations for 2028, while ExxonMobil has increased its stake in the Rovuma LNG megaproject to 50% and is pursuing a final investment decision targeted for late 2026.
Nigeria is advancing its Decade of Gas initiative to establish itself as a gas-powered economy. Nigeria LNG’s Train 7 expansion is scheduled to increase capacity to 30 MTPA from 2027, supported by 20-year gas supply agreements signed last year between the Nigerian National Petroleum Company and upstream partners. The Greater Tortue Ahmeyim project, jointly operated by Senegal and Mauritania, achieved commercial operations after shipping its first cargo in April 2025, with plans to expand from 2.5 to 5 million tons per annum capacity.
Additional frontier developments are accelerating across the continent. TotalEnergies has taken operatorship of Namibia’s Mopane discovery through an asset swap and is targeting a final investment decision for the Venus project in 2026. Tanzania is advancing a $42 billion LNG project backed by Equinor, Shell and ExxonMobil, pending host government agreements and parliamentary approval. Meanwhile, natural gas demand across Sub-Saharan Africa is projected to grow 60% by 2050, creating domestic market opportunities as nations move beyond simple resource extraction to develop integrated energy sectors.
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