Africa is poised to become the leading driver of new liquid storage capacity additions worldwide between 2026 and 2030, as rising domestic consumption of refined petroleum products and growing energy security concerns push governments and operators across the continent to expand infrastructure.
According to new industry analysis, increasing demand for petroleum products, expanding oil production, growing energy trade, and a rising need for storage infrastructure are all expected to fuel liquid storage development across Africa during the outlook period.
The region currently holds a strong pipeline of projects set to come online in the coming years, with new build developments accounting for the majority of planned capacity.
Expansion projects at existing facilities are also expected to contribute meaningfully to regional growth.
Among project types, port terminal developments are forecast to dominate the upcoming pipeline in terms of overall capacity, with refinery terminal projects following closely behind.
Analysts note that continued investment in this infrastructure will support crude oil and refined product handling, strengthen domestic supply networks, and enable growing export and import activity across the continent’s major economies.
Nigeria and Ghana have emerged as two of the most significant contributors to Africa’s liquid storage development pipeline.
Nigeria’s project slate is particularly strong in refinery and port terminal developments, underscoring the country’s continued focus on expanding its oil handling and storage capabilities.
Several major projects are progressing across different stages of development in the country, including the Lagos Expansion I, which ranks among the second-largest upcoming liquid storage projects in Africa by capacity addition.
Ghana’s pipeline, by contrast, is more diversified across project types.
The single most significant development expected to support the country’s growing storage needs is the Jomoro refinery terminal project, which is anticipated to play a central role in expanding the nation’s downstream infrastructure.
Overall, more than half of the projects currently in Africa’s development pipeline have already reached the construction stage, while the remainder are still moving through feasibility studies and regulatory approval processes.
This distribution suggests that a substantial share of the region’s planned capacity additions are likely to be realised before the end of the decade, driven by a combination of new port terminals, tank farms, and refinery terminal developments.
The trend reflects a broader shift underway across African energy markets, where governments are increasingly prioritising domestic refining and storage capacity as a hedge against supply disruptions and price volatility.
Energy security has become a growing policy priority for many African nations, particularly as populations grow and fuel demand rises.
At the same time, expanding trade routes and export ambitions are encouraging investment in port-based storage infrastructure that can accommodate both regional distribution and international shipments.
Industry observers say the continued build-out of storage capacity will be critical not only for meeting rising domestic consumption but also for positioning African nations as more active participants in global liquid fuel trade.
With Nigeria and Ghana leading the way, and additional projects advancing across other countries in the region, Africa’s contribution to global liquid storage capacity is expected to grow substantially by 2030.
Further details of the global liquids storage projects outlook can be found in GlobalData’s new report.
