Africa’s $375B Gas Push Seen as Key to Economic Stability and Political Leverage: Says Society of Petroleum Engineers (SPE)
DAKAR, Senegal – Africa will need an estimated $375 billion over the next decade to strengthen its natural gas sector, an investment analysts say could reshape the continent’s economic trajectory and improve living standards for millions. The forecast, issued by the Society of Petroleum Engineers (SPE), underscores both the continent’s growing energy ambitions and the urgency of translating its natural endowments into broad-based social progress.
Speaking at the MSGBC Oil, Gas & Power 2025 conference, Dr. Riverson Oppong, SPE’s Africa Director, said African countries are laying the groundwork for a more resilient and integrated gas market through national master plans, stronger institutions and clearer regulatory systems. These steps, he noted, are crucial for attracting investment at a time when Africa has completed 17 high-impact wells in 2025 alone.
“Africa is a gas market,” Dr. Oppong said. “Yet despite holding 8% of global reserves, we remain underrepresented on the global stage. Our main constraints stem from inconsistent policy, weak commercial frameworks, infrastructure gaps and financing limitations.”
Energy specialists argue that fixing these constraints is not only an economic priority but a human development necessity. Expanded gas infrastructure could reduce chronic electricity shortages, lower household energy costs and provide cleaner alternatives to biomass, which many African families still rely on for cooking. Such improvements have direct links to better health outcomes, stronger local industries and new job opportunities across engineering, logistics and services.
Dr. Rose Ndong, SPE Dakar Section Chair, emphasized that the conference aims to deepen technical cooperation among African stakeholders. “Our goal is to build shared knowledge across the region and support countries as they develop strategies that serve communities as well as investors,” she said.
Technology giant SLB highlighted that digital tools from IoT sensors to advanced analytics and AI, could dramatically improve exploration and production efficiency. These innovations support real-time monitoring, reduce operational risk and enhance environmental compliance, making Africa’s emerging gas industry more competitive and transparent.
“Data is a key focus-area for improving the upstream value chain,” said Larry Velasco, SLB’s Africa New Venture Manager. “Poor data quality can cost companies 15–25% of revenue, and Africa can’t afford those losses at this critical stage of development.”
SLB forecasts that global oil and gas demand will rise by nearly 20% by 2050, giving Africa a potential window to strengthen its geopolitical position as a reliable supplier. Several governments are already using gas projects as leverage in regional diplomacy, economic partnerships and industrial policy.
Yet the stakes go beyond economics or geopolitics. Analysts stress that timely investment could help African countries avoid energy shortages that impede hospitals, schools and small businesses, creating ripple effects across society.
“Energy demand is rising rapidly,” said Paul Freeman, SLB Global Exploration Advisor. “Africa needs fast, coordinated investment not only to meet peak demand but to secure the economic and social foundations of its future.”
As the continent navigates this pivotal moment, the intersection of policy reform, technological adoption and human-centered development will determine whether Africa’s gas potential becomes a transformative engine of progress, or a missed opportunity.
