Following its withdrawal from Moroccan offshore acreage, Energean is also evaluating development of Mauritania’s BirAllah gas field and potential entry into Senegal’s Yakaar-Teranga gas field as part of a strategy to establish a major regional gas project by 2026.

At the MSGBC Oil, Gas & Power 2025 conference in Dakar last year, non profit organization the Society of Petroleum Engineers (SPE) estimated that Africa requires roughly $375 billion in investment over the next 10–12 years to fully develop its natural gas sector. The funding would primarily target upstream exploration and midstream infrastructure, unlocking a resource base representing about 8% of global gas reserves while expanding power generation, LNG exports and industrial gas demand across the continent.

Senegal and the MSGBC Region

Senegal’s gas-driven industrial strategy accelerated in early 2026 as state oil company Petrosen launched its first independent $100 million onshore exploration campaign, targeting frontier basins believed to mirror the offshore geology that delivered the GTA LNG and Sangomar discoveries.

Upstream expansion is also being evaluated offshore. Australia’s Woodside Energy confirmed it is assessing a Sangomar Phase 2 development involving approximately 33 additional subsea wells tied back to the existing 100,000 barrel-per-day FPSO, potentially extending Senegal’s oil production growth trajectory.

Meanwhile, Senegal’s gas monetization strategy continues to revolve around the cross-border GTA project, which began operations in 2025. Phase 1 allocated around 35 million standard cubic feet per day of gas to each host country (Mauritania and Senegal) for domestic power generation.

Midstream infrastructure is also advancing. Senegal is prioritizing public-private partnerships in 2026 to accelerate its planned 400-km domestic gas pipeline network, designed to transport offshore gas from GTA and Sangomar to power plants and industrial consumers.

Financial de-risking is being strengthened as well. Senegal’s sovereign wealth fund FONSIS doubled its capital to $280 million in early 2026 to help mobilize private investment for large-scale gas infrastructure and future licensing rounds.

Industrialization remains the core objective, with the government aiming to eliminate natural gas imports by late 2026. The move is projected to save $277 million annually while supporting a power system where gas could eventually account for up to 75% of installed capacity.

Continental Momentum

Elsewhere in Africa, new regulatory frameworks are emerging to attract the investment required to close the $375 billion financing gap identified by the SPE.

In Namibia, the proposed Petroleum Amendment Bill 2025, now progressing through implementation phases in 2026, shifts upstream oversight to the Office of the President and introduces a new National Upstream Petroleum Local Content Policy, prioritizing domestic suppliers and technical skills transfer.

The Republic of Congo is moving rapidly on LNG monetization. Early 2026 exports from Congo LNG Phase 2, developed by energy major Eni, added 2.4 million tons per annum (mtpa) of liquefaction capacity, bringing the country’s total LNG export capability to roughly 3 mtpa.

Exploration activity is also surging, with Africa expected to account for about 40% of global high-impact exploration wells in 2026. Global upstream spending reflects this momentum. Total expenditure is projected to reach $504 billion in 2026, with Africa contributing roughly $41 billion, positioning the continent as one of the fastest-growing frontiers for hydrocarbon exploration.

Looking Ahead to MSGBC 2026

The next edition of the MSGBC Oil, Gas & Power 2026 conference in December is expected to focus heavily on mobilizing capital for pipelines, LNG infrastructure and gas-to-power projects needed to close the $375 billion investment gap highlighted by the SPE.

With Senegal accelerating exploration, the Republic of Congo expanding LNG exports and Namibia reshaping its regulatory framework, Africa is gradually transitioning from exploration to execution. However, achieving full gas sector development will depend on bankable contracts, integrated gas master plans and digital technologies capable of improving efficiency across the upstream and midstream value chain.