East African boom on its way

 

The International Energy Agency predicts that by 2040 sub-Saharan Africa will be producing more natural gas than Russia, with much of it coming from Tanzania and Mozambique.

Kenya and Uganda are also preparing their own hydrocarbon booms, but much remains to be done in 2015 to speed up production and deliver benefits to local economies.

The Kenyan government, which is begrudgingly devolving power to the county governments created through the 2010 constitution, plans to implement new legislation in the year ahead to shape the oil and gas industry.

It could include a windfall tax, which companies say will scare away investment.

The government nevertheless expects a flurry of exploration in 2015 as holders of 41 exploration licences enter the latter stages of their permits.

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SourceĀ Africa Report