Browsing: US EU sanctions on Russia oil and gas

The new West African frontier eyeing oil and gas billions

Industry and Trade
  • Mauritania, Senegal, The Gambia, Guinea-Bissau and Guinea-Conakry emerge as top destination for huge oil and gas investments. 
  • Due to growing energy demand, global investors are turning their attention to projects across the bloc.
  • These countries could consider establishing Special Economic Zones (SEZ) or free zones to attract more investments.

The MSGBC region—comprising Mauritania, Senegal, The Gambia, Guinea-Bissau and Guinea-Conakry—is emerging as an increasingly attractive energy investment destination that could see these West African countries earn oil and gas billions.

A chance for the MSGBC energy-producing nations to create their own energy free trade pact and eventually close the region’s energy deficit has been emphasized by recent geopolitics and the related trade restrictions implemented by the US and Europe against Russia.

Approximately 40 per cent of the natural gas and 27 per cent of the oil needs of the EU are met by Russia. The EU has been looking for new …