How Jeniks, Qatar $20bn deal can unleash Africa’s gas wealth

Africa is home to some of the largest untapped natural gas reserves in the world, holding more than 620 trillion cubic feet (TCF) of natural gas, translating to about 8.5 percent of global proven reserves.

Nigeria, Algeria, Egypt and Mozambique are the continent’s gas powerhouses, collectively accounting for most of these reserves.

As of 2023, Nigeria, with 206 TCF of proven reserves, remains the largest gas producer in Africa and is a key supplier to markets like Spain, Portugal, France and Italy, primarily through its 22-million-ton-per-year Nigeria LNG plant.

To reshape Africa’s energy landscape, Jeniks Energy led by Princess Osifo secured a $20 billion partnership with Qatar Energy, a global leader in the liquefied natural gas (LNG) market.

The deal, announced in Doha, underscores Africa’s potential as a major player in the global gas industry and lays the foundation for transformational growth across the continent.

By leveraging Qatar’s expertise and investment, Jeniks Group is poised to unlock Nigeria’s vast gas reserves, drive industrialization, and improve energy access for millions of Africans.

Read also: How Jeniks’ partnership with Qatar can unlock African gas potential

With an initial investment of $8 billion and a committed $12 billion for project kickoff, this partnership promises to transform Africa’s energy sector.

Key countries benefiting from this initiative include Ghana, Kenya, Tanzania, Angola, Sierra Leone, Morocco, Egypt, Benin Republic, Mozambique, Rwanda, and Zambia. The three additional countries participating in the project are Nigeria, Republic of Congo, and Guinea Equatorial.
These countries will benefit from the significant investment in the gas sector, which promises to transform Africa’s energy landscape. Notably, Nigeria plays a pivotal role in the project, with advanced negotiations underway to solidify the country’s comprehensive plan for gas aggregation.

These achievements were done through the President and founder of Jeniks group, Princess Osifo as it expanded its footprint across Africa and the Middle East, diversifying its portfolio through strategic downstream oil and gas investments.

With over 73 filling stations across Africa and strategic engagements in the Middle East, Jeniks Group has solidified its presence in the region.

The company’s projects include gas reserve acquisition and aggregation, liquefied natural gas (LNG) and LPG initiatives, and the acquisition of productive oil wells and petroleum products assets. The Qatar-Jeniks Africa Gas Project has expanded to 14 African countries and is a testament to Princess Osifo’s visionary leadership.
Osifo noted that Nigeria’s confirmed gas reserves of 203 trillion Standard Cubic Feet will be monetized through various policies and industry intervention schemes.
“Upon project completion, the Nigeria National Petroleum Company will expand its gas operations and increase export potential,” she said.

“My commitment to Africa’s energy growth has earned me recognition as a shining example of entrepreneurial excellence. My story serves as inspiration for future generations of business leaders. As Jeniks Group continues to expand its operations and embark on new projects, I remain at the forefront and committed to promoting economic growth and development in Africa.”
She noted that her visionary leadership and strategic partnerships have positioned the company as a major player in the African energy sector, and her legacy and impact as a trailblazing entrepreneur and energy expert continues to empower others and will be felt for generations to come.
In recognition of her outstanding contributions to the energy sector, Osifo has received numerous accolades and awards, including the Chief of the Order of the Burning Spear and the Order of the Golden Heart.

Her achievements serve as a testament to her dedication, passion, and commitment to promoting economic growth and development in Africa.

Honored with prestigious awards, including the Chief of the Order of the Burning Spear and the Order of the Golden Heart, her impact on Africa’s development is widely celebrated.

Beyond her professional success, Osifo champions philanthropy, driving community development through JENIKS Group. Her initiatives include improving infrastructure, providing scholarships, funding healthcare programs, and empowering women and marginalized groups. Her unwavering faith and resilience inspire others to lead purpose-driven lives.

Under her leadership, the Qatar-Jeniks Africa Gas Project promises to transform Africa’s energy sector by harnessing natural resources sustainably. Princess Osifo’s visionary leadership and commitment to inclusive growth position her as a trailblazer for Africa’s advancement, embodying the continent’s potential for globally impactful development.