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Senegal Charts $7.5B Gas Project to Reduce Energy Subsidies

Senegal's state-owned petroleum company plans to develop the Yakaar-Teranga gas field at a cost of $7.5 billion, positioning the West African nation to substantially reduce its energy subsidy burden once production begins. The project represents a significant infrastructure investment aimed at stabilizing government finances and improving energy security. Senegal joins several developing economies reassessing energy spending as global commodity volatility pressures public budgets. South Africa has similarly flagged subsidy challenges amid fluctuating fuel prices.