AFRICA'S upstream sector has been in the doldrums for more than six years now, ever since the oil price crash of 2014 caused oil and gas companies to axe investments in exploration and development operations. While there have been bright spots, these are few and far between. The malaise that has enveloped the continent shows little sign of lifting in the short term, although as the oil price rises, investor confidence is edging back-cautiously. There is now acknowledgment in many government and investor circles that gas, as well as being a transition fuel, can play a significant role in industrialising Africa, giving 600 million people access to power for the first time and creating vital jobs for a fast-growing and youthful population. Wood Mackenzie analyst Greg Roddick, appearing in a recent Africa Oil Week webinar, says Africa's gas resources are enormous-some 220 trillion cubic feet-but 60% has no firm development plan and almost all exploited gas ends up being exported as liquefied natural gas.
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