Natural gas & LNG

Middle East & Africa July 2019

Regional analysis & forecasts
Economic overview

Weak oil and gas prices will be a hurdle to growth in Nigeria’s oil and gas sector.

Nigeria is the largest oil producer and LNG exporter in sub-Saharan Africa. Moreover, oil and gas – including LNG – account for more than 90% of the country’s export revenues. However, weak prices are hitting growth in Nigeria’s oil and gas sector, which shrank by 2.4% on an annual basis in Q1 2019 – its fourth consecutive quarter of contraction.

Nigeria’s hydrocarbon export revenues were hit in Q1 2019 because...