New LNG capacity from Mauritania and Senegal in West Africa, operated by Kosmos Energy (NYSE: KOS), is set to come online in December. Other projects will come online in Cameroon, as well as Mozambique in East Africa, in the coming years.
Many projects are using floating LNG, cutting costs and lead times relative to conventional onshore fixed facilities. “Africa is the hot spot for floating LNG,’’ said Lucas Schmitt, a senior gas analyst at consultants Wood Mackenzie Ltd., according to Bloomberg. “Confidence in floating facilities is firming up.’’