Underpinning the appeal of east Africa is demand for liquefied natural gas in the Asia-Pacific region, which, according to Bernstein Research, is growing at 20 per cent year on year , writes Guy Chazan.
That is part of a strong global picture. Bernstein expects demand for LNG to almost double during the next decade to 408m tonnes a year.
Bernstein says that LNG’s rising fortunes are being driven by three factors: the effects of the Fukushima disaster, which encouraged Japan to switch from nuclear to gas; a long-term increase in European demand as North Sea supplies decline and countries such as Germany back away from atomic power; and the emergence of LNG buyers in China, India, the Middle East and Latin America.
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