Energy Capital & Power considered this Wednesday that natural gas will be essential for Angola to be able to diversify the economy beyond oil and also implement industries that are not dependent on raw materials.
“Natural gas has the potential to guarantee Angola’s transition beyond its dependence on crude oil, towards the establishment of diversified industries and not based on raw materials”, wrote the analyst at the consultancy Energy Capital & Power, Grace Goodrich, about Angola. .
In analyzing the potential of natural gas in Angola, Grace Goodrich writes that the Portuguese-speaking African country has reserves of around 27 billion cubic feet, but points out that it has been “slow” to transform reserves into revenues, focusing almost exclusively on oil production, most of which is for export. “Although the country currently exports 95% of its natural gas production in the form of Liquefied Natural Gas, it wants the country to keep 25% of production, through association with value-added industries, by 2030”, adds the aforementioned analyst. by Lusa, defending the bet on Agriculture as the most advantageous for Angola. According to Grace Goodrich, the Angolan government has already realized the potential of gas and is investing in a set of initiatives that can improve the country’s economy. “The country is giving priority to the development of natural gas projects, starting to launch investments in infrastructure with the aim of using this resource as a solution for energy generation”, he concluded.
