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Riverside LNG, an energy-based in Nigeria, has announced plans to supply gas to South Africa. Deliveries from the project are slated to commence in 2027, providing ample time to develop import terminal infrastructure in South Africa. Riverside LNG is also exploring opportunities in Liberia and Cameroon.
Riverside LNG inked a gas-export partnership agreement with Johannes Schuetze Energy Import AG of Germany, and the company is presently exploring potential deals on the continent. Nigeria boasts the largest gas reserves in Africa. The country is projected to dominate the African natural gas and liquefied natural gas (LNG) supply market from 2023 to 2027 as the use of fossil fuels becomes unpopular globally.
There’s a massively evolving gas market in the region, anything around 3,000 nautical miles of Nigeria. So that covers southern Africa, western Africa, all to northwest Europe and to the Caribbean and South America broadly. A lot of those countries are looking to go gas and a huge opportunity for Nigeria in being a trading hub.
South Africa currently lacks the infrastructure to receive LNG. Deliveries from the project are slated to commence in 2027, providing ample time for the development of import terminal infrastructure. The country relies on coal for four-fifths of its power generation, but with investments unlikely in the sector, it is now looking at renewable sources to generate as much as 60 gigawatts of its power needs by 2030.
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The World Bank is reportedly considering a USD 1 billion loan a to support South Africa’s initiatives in revitalizing its energy sector. Eskom also planned to allocate a portion of its USD 12.5 billion multilateral loans to deliver power to areas where grid congestion is hindering the transition to renewable sources.
