Dangote Plans $8 Billion Investment in 13 Million-Ton LNG Project

en.Wedoany.com Reported - On September 28, Dangote Group announced its "Vision 2030" investment plan, under which it intends to invest nearly $50 billion in new projects across Africa in the coming years, including an LNG project with an investment of approximately $8 billion and an annual capacity of 13 million tons. The group aims to achieve annual revenue exceeding $115 billion and annual profit of approximately $35 billion by 2030, and has identified LNG, refining, gas infrastructure, power, ports, upstream oil and gas, and mining as key investment directions for the next phase.

Aliko Dangote, President and Chief Executive Officer of Dangote Group, stated that most of the group's planned businesses are already in operation or under way, and the LNG project is one of the major large-scale projects that still needs to be built from scratch, with an estimated investment of approximately $8 billion. According to the disclosed plan, the project is designed with an annual capacity of 13 million tons and will become an important new gas deep-processing asset alongside the group's existing refining, fertilizer, petrochemical, and gas businesses.

The group plans to fund the equity portion of future capital expenditure through cash flow generated by existing assets, while also bringing in debt financing. Dangote said that financial institutions such as the Africa Finance Corporation have already provided financing commitments. Its overall investment plan also includes a 700,000-barrel-per-day refinery in Lamu, Kenya, as well as gas infrastructure, power generation, port, and upstream energy projects, further extending the energy industry chain from oil and gas resources and refining to LNG and power.

Currently available public information has not yet disclosed the specific site selection, gas source plan, liquefaction technology route, equity structure, or final investment decision timeline for this LNG project. Under the "Vision 2030" announced by Dangote Group, the project will create synergies with the group's existing refining, fertilizer, petrochemical, and gas businesses, becoming an important new addition to Africa's energy investment plans in the coming years.