Africa’s LNG Exports Set to Soar 175% as Buyers Flee Hormuz

Energy buyers burned by the Strait of Hormuz are turning to Africa, and the money is following. The African Energy Chamber projects that Africa’s upstream sector will attract ~$40 billion a year through 2030, lifting the continent’s hydrocarbon output to 12.5 MMboe/d. Mozambique, Nigeria, Angola, Libya and Ivory Coast will take the largest shares of that capital, while new projects in Uganda, Kenya and Namibia expand the production base. Major offshore discoveries and a wave of upstream deals are turning Africa into the world’s…