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Africa LNG set to surge as floating projects cut time to market

Africa appears to be headed for an LNG boom, driven by factors such as surging in global demand. Floating LNG terminals help attract investments and boost enthusiasm for gas projects in the region.

Photo: Bloomberg

Africa is on the cusp of a liquefied natural gas boom. That is in part due to accelerating global demand. It is also down to a fast-track method of getting the fuel to market.

Kosmos Energy Ltd.'s project in Mauritania and Senegal, set to get the go-ahead next month, will use a floating vessel to convert gas from the offshore Tortue field into LNG. Such units, which can be built out of existing tankers, reduce the time from exploration to export, helping to lure investment and boost enthusiasm for gas development in a region traditionally focused on oil.

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