Africa Needs $375 Billion to Scale Natural Gas Development — SPE
15 January, 2026
.jpeg&w=3840&q=75)
The Society of Petroleum Engineers (SPE) has highlighted that Africa will require an estimated $375 billion in investment to scale natural gas development.
15 January, 2026
The Society of Petroleum Engineers (SPE) has highlighted that Africa will require an estimated $375 billion in investment to scale natural gas development.
The Society of Petroleum Engineers (SPE) has highlighted that Africa will require an estimated $375 billion in investment to fully scale its natural gas development and infrastructure. This investment is critical for meeting rising domestic energy demand, supporting industrial growth, and enabling a balanced energy transition across the continent.
Natural gas plays a strategic role in Africa’s energy future. It offers a cleaner-burning alternative to coal and diesel, supports power generation, fertiliser production, petrochemicals, and provides a pathway for economic development while reducing energy poverty. According to SPE, without significant capital mobilisation, Africa risks underutilising its vast gas reserves and missing opportunities for sustainable growth.
SPE notes that Africa holds some of the world’s largest undeveloped natural gas reserves. With the right investment climate, the sector can:
SPE emphasises the importance of collaboration between governments, operators, service companies, financial institutions, and energy professionals. Technical expertise, innovation, and strong project management will be key to delivering safe, efficient, and sustainable gas developments across Africa.
As one of Africa’s largest gas reserve holders, Nigeria is well positioned to benefit from increased investment in natural gas. This aligns with national gas expansion programmes and presents significant opportunities for Nigerian professionals, companies, and young engineers within the SPE Lagos Section community.
The $375 billion investment call underscores the urgency of unlocking Africa’s gas potential. SPE continues to advocate for sound engineering, policy alignment, and capacity building to ensure natural gas supports Africa’s energy security, economic growth, and transition objectives.
Source: World Oil / Society of Petroleum Engineers (SPE)
SPE Lagos Section 61: Leading the way in oil and gas excellence, innovation, and sustainable energy solutions since 1973.
Copyright © SPE Lagos, 2026. All rights reserved.