Having begun its journey in the North Sea with the Prinos field and later establishing a strong foothold in the Eastern Mediterranean—particularly in Israel and Egypt—Energean is now setting its sights further afield: West Africa. The company has unveiled an ambitious plan to develop natural gas production in the region, with the broader goal of meeting local energy demand and supplying neighbouring markets.
Senegal as a Strategic Hub
Speaking to Senegal’s leading newspaper Le Soleil, Energean CEO Mathios Rigas described Senegal as potentially the ‘Israel of West Africa’—a reference to its substantial hydrocarbon resources and export potential. ‘My vision is for Senegal to become an energy-independent nation and a regional supplier,’ he said, highlighting both national development goals and commercial opportunity.
Rigas noted that while natural gas was previously discovered in Senegal, it remained undeveloped because major oil companies deemed the volumes too small to justify investment. ‘In Senegal, gas can be produced at lower cost,’ he explained, adding that independent operators like Energean benefit from leaner operational models compared to large multinationals.
Regional Supply Potential
The company sees Senegal not only as a domestic energy solution but also as a strategic gateway for exports—particularly to Morocco, which faces high natural gas import dependency. ‘Morocco has a huge need for gas. Senegal could become its supplier, just as Israel supplies Egypt,’ Rigas emphasized.
Energean’s interest in Senegal stems from several key factors: proven gas reserves, strong geological potential, a growing domestic market, and proximity to underserved regional markets. While no formal agreement has been signed yet, company sources confirmed to newsit that efforts are underway to secure Energean’s first entry into West Africa—either in Senegal or another country in the region. Management aims to take a decisive first step before the end of this year, opening the door to broader regional expansion.