Senegal and Qatar are getting cozy over natural gas. Both nations are keen on playing a bigger role in the global gas market, with Senegal gearing up for its first production and Qatar being a major LNG player already.
Last week, Senegal’s energy minister, Birame Diop, met with his Qatari counterpart in Doha. Talks focused on expanding their energy partnership, with a particular eye on Liquefied Natural Gas (LNG).
Senegal is on the cusp of its big natural gas moment. The bp-led Grande Tortue Ahmeyim project, a shared venture with Mauritania, is set to deliver its first gas this quarter (Q3 2024). This newfound resource is a game-changer for Senegal. They plan to use it for domestic needs and exports, building a national pipeline network and converting existing power plants from coal and oil to cleaner-burning natural gas.
Qatar, on the other hand, is a heavyweight in the gas world. They hold a whopping 11% of the world’s proven gas reserves and dominate the Middle Eastern market with over 30% of its share. Their state-owned energy giant, QatarEnergy, reigns supreme as the world’s largest LNG producer, churning out a staggering 77 million metric tons annually. Qatar’s interest in the region goes beyond Senegal. Their recent acquisition of Shell’s stake in the C-10 block off the coast of Mauritania (2023) is a clear sign of their expanding footprint in the MSGBC region.
This potential partnership between Senegal and Qatar is an intriguing development to watch. Senegal’s upcoming production and Qatar’s expertise could be a winning combination, shaping the future of the African gas market.
What do you think?
The amount of funding they secured is impressive, and it’s great to see that they have the support of investors to help them bring their vision to life. This financing will surely help them to accelerate the development of Big River 2 and make it a success.