African energy officials are urging global policymakers to place the continent’s oil and gas sector at the center of its economic strategy, arguing that hydrocarbons remain essential to unlocking long-term development as demand rises and energy poverty persists.
Africa’s upstream potential is sizeable and growing, with projections showing oil and gas production could rise to 11.4 million barrels per day by 2026, climbing toward 13.6 million barrels per day by 2030 as exploration accelerates in both mature markets and frontier basins. Major LNG projects in Mozambique, offshore gas developments in Senegal, Mauritania and Equatorial Guinea, and new momentum in Libya highlight a continent that remains critical to global supply.
However, restrictive international financing policies, including fossil-fuel lending bans by multilateral institutions, are limiting progress. Energy advocates warn that insufficient investment risks stalling industrialization, slowing electrification and keeping nearly 600 million Africans without reliable electricity. Gas, in particular, remains central to bridging this gap, supporting power generation, petrochemicals, and cleaner cooking fuels.
South Africa’s Minister of Mineral and Petroleum Resources Gwede Mantashe underscored the role of domestic development in reducing dependence on imports. “We have no legal restriction on oil and gas exploration and exploitation in South Africa,” he said. “If we make a breakthrough, our GDP will grow exponentially.”
Across the continent, governments are opening new licensing rounds, revising fiscal terms and strengthening regulatory frameworks to attract capital. The recent $4.5 billion U.S. financing commitment to the Mozambique LNG project has been cited as evidence that large-scale support can drive both economic and supply-chain benefits.
African energy stakeholders contend that a broader recalibration is needed, calling for support of upstream investment, unlocked gas infrastructure financing, and recognition of fossil fuels as a cornerstone of the continent’s path toward a diversified and reliable energy mix. For Africa, oil and gas are not ideological flashpoints but practical engines of industrial development, job creation and long-term energy security.
Source: worldoil.com