蜜芽传媒

The European Union has announced plans to reduce its reliance on Russian gas by two-thirds in just a year. Looking ahead, the bloc aims to completely stop sourcing gas from Russia by 2030. In the short term, Europe hopes to diversify its supply by securing gas from the US and Africa. So which African gas producers stand to benefit from this shift in energy policy?

Uwa Osadieye, Senior Vice President of Equity Research at FBNQuest Merchant Bank in Lagos, says that Algeria has a dependable infrastructure for the provision of gas, and good connectivity with Europe, but that in the longterm, Nigeria has the biggest potential to become a major contributor to Europe's gas needs. Smaller producers from countries such as Mozambique, Cameroon and Angola, however, for a variety of reasons around maturity of the infrastructure and security issues, are not ready to start delivery.

Photo: Afam VI power plant walk past a gas pipeline at the plant in Port Harcourt Credit: Getty Images