The global demand for natural gas is expected to increase 34% by 2050, according to the Gas Exporting Countries Forum (GECF), reaching 5,360 billion cubic meters annually. Africa and the Middle East will account for a major share of this demand, owing largely to growing consumption across various economic industries.
The global transition from coal-fired power generation to natural gas represents one of the main drivers of demand, as will the anticipated rise in fertilizer production. Between 2000 and 2022, the demand for nitrogen fertilizers – produced using natural gas – rose by 33% to 109.3 million tons. Meanwhile, recent environmental regulations implemented across the maritime transportation sector are expected to support demand growth as LNG becomes an attractive fuel option.
Amid this rise in demand, African countries including Mozambique, Nigeria and Mauritania are expected to bring new LNG projects into operation. These projects aim to support anticipated demand while boosting the continent’s export capacity.
