The decision by the EU to label natural gas as a ‘transitional fuel’ en route to a net zero emissions target has opened up a key opportunity for African producers to take up the slack of, the now banned, Russian gas that provided around 30% of EU supplies. The European Parliament, in response to the energy crisis, also now considers new investments in gas as ‘climate friendly’ — a change of heart that is already proving an area of investment interest for European banks and other financiers.
Africa currently provides around 20% of Europe’s gas imports. It’s a percentage that’s likely to increase considerably with natural gas delivered directly to the EU via pipeline and LNG transported by ship from now until 2050.
In the October edition of World Pipelines Magazine, Penspen’s Arun Behl and John Downer provide insight on the current energy landscape in Africa and Europe, and the key considerations for African producers when delivering oil and gas resources to the European market.
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