Gulf Money Moves

$42B Tanzania LNG Mega-Project Targets June 2026 Final Agreement

Libya Secures $20B Oil Investment Deal with TotalEnergies-ConocoPhillips

Libya's $20 billion energy partnership represents a strategic inflection point for North Africa's largest oil producer, targeting production capacity increases from 400,000 to 850,000 barrels per day with $376 billion in projected net revenues over 25 years. The landmark 25-year agreement signals Libya's successful pivot toward investment-grade energy sector governance after years of instability, coinciding with the country's first oil licensing round in 17 years attracting major IOCs including ExxonMobil and Chevron.

The deal positions Libya as a reopened frontier market within Africa's investment recovery narrative, with concurrent gas expansion projects targeting 700-750 mmscfd by 2026 creating potential European supply alternatives via the Greenstream pipeline. However, investors should stress-test political stability scenarios, as production restoration depends critically on maintaining security and resolving ongoing administrative divisions.

Türkiye-Nigeria Launch $5B Trade Expansion Drive

Türkiye and Nigeria signed nine bilateral agreements targeting $5 billion in trade volume—up from current $2 billion—through enhanced cooperation in defence, trade, and investment sectors. With over 50 Turkish companies already operating in Nigeria with $400 million in investments and $3 billion in contractor projects underway, the new framework unlocks opportunities in construction, energy, textiles, and manufacturing.

The establishment of a Joint Economic and Trade Committee (JETCO) provides formal institutional channels for business partnership facilitation, particularly valuable given Nigeria's position as West Africa's economic powerhouse and ongoing security infrastructure improvements under President Tinubu.

Scatec Secures 25-Year Tunisia Solar PPA for €80M Project

Scatec's 120 MW Tataouine solar plant demonstrates bankable renewable delivery models in North Africa, with the company retaining 100% ownership initially before inviting equity partners. The vertically integrated EPC-plus-O&M model shows how construction services can partially self-fund equity requirements.

East African Portland Cement Secures $200M Expansion Funding

Kenya's EAPC will triple production capacity from 1.3Mta to 4Mta over three years via majority shareholder Kalahari Cement investment, positioning the company as a top African producer amid East Africa's infrastructure boom and rising cement demand.

Gulf Energy Investment Surges in Egypt Led by UAE

UAE firms like Masdar and AMEA Power are deploying multi-gigawatt renewable projects in Egypt, leveraging long-term PPAs and government incentives including tax discounts and free land to capture stable returns in Africa's top renewables market.