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Natural gas: the sector wants to prepare the African continent for possible decarbonization in 2024

05/01/2024
Source : ORISHAS FINANCE
Categories: Raw materials

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The African Energy Chamber (AEC) notes in its recent report entitled “The State of African Energy 2024 Outlook Report” that natural gas production is on the rise, both globally and in Africa. The sector is thus preparing for a possible decarbonization

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The liquefied natural gas (LNG) development project is expected to produce 50 megawatts (MW) of equivalent energy and eventually expand to 500 MW. It illustrates the potential of natural gas to develop the country's economy and meet national energy needs. All of this comes as South Africa strives to expand its oil and gas businesses in order to reduce its dependence on coal and pave the way for possible decarbonization. Also, the report notes that “upstream operators are in the process of revising their strategies and aligning their future investments with the energy transition, and natural gas is considered to be a transition fuel.”

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