Compared to the previous year, exports of this product in 2021 grew by 250 percent, translating into revenue of 3.6 billion dollars.
According to accounts made by Expansão – supported by external statistics from the National Bank of Angola (BNA) – of the country's total exports last year, 11 percent correspond to gas exports.
In this way, gas eventually surpassed diamonds (in 2019 they were the second largest exported products), which in 2021 profited the country 1.5 billion dollars.
According to Expansão, the rise in profits from gas exports can be justified by the rise in the average sale price of the product, which is calculated in barrels of oil equivalent: from 2020 to last year, the average cost of this product increased from 22 to 91 dollars. In addition, the amount of gas exported in 2021 even dropped by 16 percent compared to the previous year, but the losses were offset by the rise in the average price.
Gas exports include LNG and liquids taken from natural gas. Each of these products has a different cost, with LNG being worth more, thus raising the average price of gas sales.
Forecasts for this year indicate that gas exports will remain significant: data on exports of this product in the first three months of this year suggest that gas will remain the country's second largest export product.
José Oliveira, a collaborator at the Center for Studies and Scientific Research at the Catholic University of Angola, quoted by Expansão, said that Angola LNG exports in the first three months of this year reached 1.705 billion dollars.
