Increasing demand for oil and fuel threatens African nations’ economies, analysis finds

If countries pursued a ‘dash for gas,’ Africa could be left with huge investments in gas infrastructure but no export market. Photograph: Legnan Koula/EPA

Expanding oil and gas exports would threaten the economic stability of many African countries, new analysis has found, despite soaring fossil fuel prices.

Demand for fossil fuels is likely to fall sharply in the medium term, according to a report published on Monday by the Carbon Tracker thinktank. That makes relying on gas exports to fuel economic growth a short-term, risky strategy, while boosting solar power would prove a better long-term bet, the analysis found.