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Business in East Africa: Quick Facts

Business in East Africa: Quick Facts

12 August 2015

East Africa is fast becoming one of the world's most interesting oil and gas hotspots. For many years the area was neglected by the worlds oil and gas industry, and even in Africa it was overshadowed by the rapid development in West Africa and the established markets in North Africa. In the past, companies have faced difficulties in dealing with unstable governments, underdeveloped infrastructure and a high risk of conflict. To some extent, this is still the case. However, with the discovery of major oil and gas reserves in the region over the past five years, opportunities are being created within a number of East African nations. 

Did you know?

- The East African oil and gas market capex will reach $4.19bn in 2015.
- Kenya and Uganda are 2-3 years away from commercial oil production
- Mozambique and Tanzania are set to begin exporting LNG after 2020
- The security situation remains uncertain, although greater progress is being realised in countries such as Somalia, Kenya and Uganda that have previously been engaged in heavy conflict 
- Mozambique is fielding several plans for GTL plants, on account of its large gas reserves, though oil prices will need to recover to make these viable