Despite the growing emphasis on natural gas with international majors exploring and putting online gas projects and LNG export facilities around Africa, projections indicate that liquid hydrocarbons will still hold the lion’s share of capex, attracting 60% of the total investment through 2030. But natural gas is gradually gaining ground and its share of annual expenditure is set to increase from around 30% in 2023 to more than 40% by the end of the decade, the African Energy Chamber’s report says.
