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  •   Under the theme Promoting an Inclusive Attractive and Innovative Oil and Gas Industry in Angola the third edition of the Angola Oil amp Gas AOG 2022 Conference and Exhibition https bit ly 3EJTwi5 officially kicked off with opening messages delivered by the conference s Guest of Honor H E Jo o Louren o President of the Republic of Angola as well as the country s Minister of Mineral Resources Petroleum and Gas H E Diamantino Azevedo and a suite of high level African energy leaders including H E Haitham Al Ghais Secretary General for OPEC Sergio Pugliese Angolan President for the African Energy Chamber AEC and the AEC s Executive Chairman NJ Ayuk This Angola Oil and Gas 2022 Conference is of great importance and is taking place at a moment when geopolitical cooperation is imperative towards promoting the development of oil and gas in Africa stated H E President Louren o adding that Angola has always aspired to become a leading supplier of oil and gas to the global market while striving towards alleviating energy poverty in Africa In this regard efforts are being made primarily for the growth of oil and gas activity in tandem with the development of existing resources The Angolan Government has defined and has already implemented a program of improvement and distribution that will increase oil storage capacity throughout all capital and regional municipalities throughout the country Renowned for his extensive experience on the international oil and gas stage the newly appointed Secretary General for OPEC H E Haitham Al Ghais delivered a keynote speech during which he supported the exploitation of Angola s natural resources while indicating that the organization will continue to help the country better guide its oil and gas market Over the past five years President Louren o has implemented a number of reforms throughout the oil sector that will serve to attract more investment across the country We welcome the permanent cooperation among OPEC member states and the establishment of OPEC The cooperation between our members proves the courage of OPEC to the world and that the stability of oil markets in the world depends on multilateral cooperation and a united effort by all crude oil producers worldwide stated H E Al Ghais concluding that OPEC will continue to count on the contribution by Angola and the Secretary General will always be at Angola s disposal for all the support that one of Africa s most important oil producers might need Additionally the opening ceremony was attended by H E Minister Diamantino who offered an update on the current state of Angola s oil and gas industry while identifying the Government s efforts towards diversifying the country s energy portfolio and the proactive role that the Ministry is playing in strengthening partnerships with the private sector to advance the energy industry It s a great honor for me to offer a warm welcome to this international conference which will serve to connect us for the next two days stated H E Minister Azevedo adding After the two previous editions the success was immediately and expressly recognized This conference will certainly offer solutions to the opportunities and challenges that the oil and gas industry in Angola and Africa will face and we can continue to make efforts to ensure that the oil and gas industry in the country offers the most opportunities for the people of Angola Highlighting the need for African unity the importance of strong partnerships across the continent and the call for a just energy transition that will bring energy wealth to Africa through the production of its resources NJ Ayuk delivered a welcome address with messages of identifying investment opportunities within the entire energy value chain and advancing Angola s oil and gas industry to bring socioeconomic development to the southern African country We believe it is time for us not to back down on fossil fuels As we move forward we have to embrace the future Ayuk stated adding We are the future and we should be proud of what we do The next three days are going to feature the most amazing discussions about driving this industry forward as Africa has a big role to place and Angola has a big role to play If we drive this industry forward Angola will thrive Finally concluding the conference s opening ceremony as an official guest of honor Angola s President H E Jo o Louren o expressed the Government s commitment towards revamping the national energy sector driving a wave of upstream investment and transforming the market into a hub for the world s largest major energy companies which will enable Angola to realize its potential and harness its vast hydrocarbon resources to drive energy security and boost socioeconomic development Angola is open to national and foreign investment by proposing fair contractual terms and investment in order to take full advantage of the development of our oil resources and the development of renewable energy technologies to ensure the socioeconomic development of Angola as well as the return of investments made concluded H E President Louren o
    His Excellency (H.E.) President João Lourenço Opens Angola Oil & Gas (AOG) 2022
      Under the theme Promoting an Inclusive Attractive and Innovative Oil and Gas Industry in Angola the third edition of the Angola Oil amp Gas AOG 2022 Conference and Exhibition https bit ly 3EJTwi5 officially kicked off with opening messages delivered by the conference s Guest of Honor H E Jo o Louren o President of the Republic of Angola as well as the country s Minister of Mineral Resources Petroleum and Gas H E Diamantino Azevedo and a suite of high level African energy leaders including H E Haitham Al Ghais Secretary General for OPEC Sergio Pugliese Angolan President for the African Energy Chamber AEC and the AEC s Executive Chairman NJ Ayuk This Angola Oil and Gas 2022 Conference is of great importance and is taking place at a moment when geopolitical cooperation is imperative towards promoting the development of oil and gas in Africa stated H E President Louren o adding that Angola has always aspired to become a leading supplier of oil and gas to the global market while striving towards alleviating energy poverty in Africa In this regard efforts are being made primarily for the growth of oil and gas activity in tandem with the development of existing resources The Angolan Government has defined and has already implemented a program of improvement and distribution that will increase oil storage capacity throughout all capital and regional municipalities throughout the country Renowned for his extensive experience on the international oil and gas stage the newly appointed Secretary General for OPEC H E Haitham Al Ghais delivered a keynote speech during which he supported the exploitation of Angola s natural resources while indicating that the organization will continue to help the country better guide its oil and gas market Over the past five years President Louren o has implemented a number of reforms throughout the oil sector that will serve to attract more investment across the country We welcome the permanent cooperation among OPEC member states and the establishment of OPEC The cooperation between our members proves the courage of OPEC to the world and that the stability of oil markets in the world depends on multilateral cooperation and a united effort by all crude oil producers worldwide stated H E Al Ghais concluding that OPEC will continue to count on the contribution by Angola and the Secretary General will always be at Angola s disposal for all the support that one of Africa s most important oil producers might need Additionally the opening ceremony was attended by H E Minister Diamantino who offered an update on the current state of Angola s oil and gas industry while identifying the Government s efforts towards diversifying the country s energy portfolio and the proactive role that the Ministry is playing in strengthening partnerships with the private sector to advance the energy industry It s a great honor for me to offer a warm welcome to this international conference which will serve to connect us for the next two days stated H E Minister Azevedo adding After the two previous editions the success was immediately and expressly recognized This conference will certainly offer solutions to the opportunities and challenges that the oil and gas industry in Angola and Africa will face and we can continue to make efforts to ensure that the oil and gas industry in the country offers the most opportunities for the people of Angola Highlighting the need for African unity the importance of strong partnerships across the continent and the call for a just energy transition that will bring energy wealth to Africa through the production of its resources NJ Ayuk delivered a welcome address with messages of identifying investment opportunities within the entire energy value chain and advancing Angola s oil and gas industry to bring socioeconomic development to the southern African country We believe it is time for us not to back down on fossil fuels As we move forward we have to embrace the future Ayuk stated adding We are the future and we should be proud of what we do The next three days are going to feature the most amazing discussions about driving this industry forward as Africa has a big role to place and Angola has a big role to play If we drive this industry forward Angola will thrive Finally concluding the conference s opening ceremony as an official guest of honor Angola s President H E Jo o Louren o expressed the Government s commitment towards revamping the national energy sector driving a wave of upstream investment and transforming the market into a hub for the world s largest major energy companies which will enable Angola to realize its potential and harness its vast hydrocarbon resources to drive energy security and boost socioeconomic development Angola is open to national and foreign investment by proposing fair contractual terms and investment in order to take full advantage of the development of our oil resources and the development of renewable energy technologies to ensure the socioeconomic development of Angola as well as the return of investments made concluded H E President Louren o
    His Excellency (H.E.) President João Lourenço Opens Angola Oil & Gas (AOG) 2022
    Africa2 months ago

    His Excellency (H.E.) President João Lourenço Opens Angola Oil & Gas (AOG) 2022

    Under the theme, ‘Promoting an Inclusive, Attractive and Innovative Oil and Gas Industry in Angola’, the third edition of the Angola Oil & Gas (AOG) 2022 Conference and Exhibition (https://bit.ly/3EJTwi5) officially kicked off with opening messages delivered by the conference’s Guest of Honor, H.E. João Lourenço, President of the Republic of Angola; as well as the country’s Minister of Mineral Resources, Petroleum and Gas, H.E. Diamantino Azevedo; and a suite of high-level African energy leaders including H.E. Haitham Al Ghais, Secretary General for OPEC; Sergio Pugliese, Angolan President for the African Energy Chamber (AEC); and the AEC’s Executive Chairman, NJ Ayuk. “This Angola Oil and Gas 2022 Conference is of great importance and is taking place at a moment when geopolitical cooperation is imperative towards promoting the development of oil and gas in Africa,” stated H.E. President Lourenço, adding that, “Angola has always aspired to become a leading supplier of oil and gas to the global market while striving towards alleviating energy poverty in Africa.

    In this regard, efforts are being made primarily for the growth of oil and gas activity in tandem with the development of existing resources.

    The Angolan Government has defined and has already implemented a program of improvement and distribution that will increase oil storage capacity throughout all capital and regional municipalities throughout the country.” Renowned for his extensive experience on the international oil and gas stage, the newly appointed Secretary General for OPEC, H.E. Haitham Al Ghais, delivered a keynote speech during which he supported the exploitation of Angola’s natural resources while indicating that the organization will continue to help the country better guide its oil and gas market.

    “Over the past five years, President Lourenço has implemented a number of reforms throughout the oil sector that will serve to attract more investment across the country.

    We welcome the permanent cooperation among OPEC member states and the establishment of OPEC+.

    The cooperation between our members proves the courage of OPEC to the world and that the stability of oil markets in the world depends on multilateral cooperation and a united effort by all crude oil producers worldwide,” stated H.E. Al Ghais, concluding that, “OPEC will continue to count on the contribution by Angola, and the Secretary General will always be at Angola’s disposal for all the support that one of Africa’s most important oil producers might need.” Additionally, the opening ceremony was attended by H.E. Minister Diamantino, who offered an update on the current state of Angola’s oil and gas industry while identifying the Government’s efforts towards diversifying the country’s energy portfolio and the proactive role that the Ministry is playing in strengthening partnerships with the private sector to advance the energy industry.

    “It’s a great honor for me to offer a warm welcome to this international conference which will serve to connect us for the next two days,” stated H.E. Minister Azevedo, adding, “After the two previous editions, the success was immediately and expressly recognized.

    This conference will certainly offer solutions to the opportunities and challenges that the oil and gas industry in Angola and Africa will face and we can continue to make efforts to ensure that the oil and gas industry in the country offers the most opportunities for the people of Angola.” Highlighting the need for African unity, the importance of strong partnerships across the continent, and the call for a just energy transition that will bring energy wealth to Africa through the production of its resources, NJ Ayuk delivered a welcome address with messages of identifying investment opportunities within the entire energy value chain and advancing Angola’s oil and gas industry to bring socioeconomic development to the southern African country.

    “We believe it is time for us not to back down on fossil fuels.

    As we move forward, we have to embrace the future,” Ayuk stated, adding, “We are the future, and we should be proud of what we do.

    The next three days are going to feature the most amazing discussions about driving this industry forward as Africa has a big role to place and Angola has a big role to play.

    If we drive this industry forward, Angola will thrive.” Finally, concluding the conference’s opening ceremony as an official guest of honor, Angola’s President, H.E. João Lourenço, expressed the Government’s commitment towards revamping the national energy sector, driving a wave of upstream investment, and transforming the market into a hub for the world’s largest major energy companies, which will enable Angola to realize its potential and harness its vast hydrocarbon resources to drive energy security and boost socioeconomic development.

    “Angola is open to national and foreign investment by proposing fair contractual terms and investment in order to take full advantage of the development of our oil resources and the development of renewable energy technologies to ensure the socioeconomic development of Angola as well as the return of investments made,” concluded H.E. President Lourenço.

  •   By NJ Ayuk Executive Chairman African Energy Chamber www EnergyChamber org The global gas markets are interconnected As the recently released report from the African Energy Chamber AEC The State of African Energy 2023 Outlook notes just how closely they re linked becomes more apparent and more important during times of strife such as the war in Ukraine Before invading Ukraine Russia expected to increase its gas production by 800 billion cubic meters bcm by 2030 both to expand its presence in the Chinese market and to maintain its European market share But just as Russia didn t consider the possibility of a protracted conflict with Ukraine it seems they also didn t predict the response across Europe Many customers expressed their outrage by cutting their imports of Russian natural gas The significant drop in export volumes to Europe is taking a substantial bite out of Russian revenues which in turn means that some projects like developing huge gas condensate resources in east Siberia and the Yamal Peninsula will be delayed by at least three to four years The AEC s latest estimates see Russia s average production loss at around 140 bcm per year between 2022 and 2030 We re All Connected As Russian output decreases global volumes of natural gas are expected to fall in the short term despite additional production in North America Prior to 2022 global natural gas volumes were expected to rise marginally higher But since the invasion of Ukraine the AEC report indicates a 150 bcm decrease for this year and anticipates a 165 bcm decrease in 2023 The decline over the medium term is even more striking The average drop in global output between 2022 and 2030 is estimated to exceed 200 bcm per year Because of Russia s dominance in the oil and gas industry we ll all feel the effects of their decreased production The resulting squeeze on the global LNG market likely will continue to push natural gas prices higher around the world Changing Market Partners What s more Europe s attempt to wean itself from Russian gas has put it in a precarious situation The region still needs huge volumes of liquefied natural gas LNG imports to fulfill their substantial energy needs The chamber s report anticipates Europe s LNG demand to increase by 20 40 million tonnes per annum mtpa through 2030 Europe wisely has been considering multiple strategies to replace the gas it had been receiving from Russia including more imports from Africa We expect to see Algeria Egypt and Nigeria leading African gas and LNG flows to Europe This seems like a natural progression After all as Africa s largest energy producers they already supply some natural gas to Europe and have enough capacity to increase production within the next few years While our report expects to see Africa s overall natural gas production dip through 2025 LNG exports are expected to pick up in short term in response to Europe s need Algeria for one is already supplying fuel directly to Spain and Italy through two pipelines across the floor of the Mediterranean Sea And with overall gas liquefaction capacity of about 75 3 mtpa this activity could help solve Europe s energy crunch in the medium term As I discussed back in August a few other African countries are pursuing some exciting long term natural gas developments that seem fit to help Europe free itself from its dependence on Russian gas Tanzania and Mozambique LNG plants capable of sending large volumes of fuel to European markets are expected near the end of the decade Republic of Congo A medium scale modular project may begin production a few years earlier than planned Mauritania and Namibia Several completely new grassroots greenfield projects are under discussion Angola A group of international majors plans to bring new fields online to facilitate LNG production Fortuna LNG in Equatorial Guinea GTA in Senegal and Mauritania Search for a Just Transition What we find quite striking is that amid campaigns for a carbon neutral future the pursuit of independence from Russian energy has softened Europe s stance on natural gas European countries which had been heavily pushing for African nations to make a rapid transition from fossil fuels to renewable energy sources have a renewed interest in investing in African gas The European Union has even started referring to gas as a green energy This reversal reveals a key lesson Wealthy countries will always seek to safeguard their own energy security at any cost This is not the case when it comes to radical environmental group extinction rebellion and privilege Europeans like Chloe Lebrand who have never spent a day without lights or gone hungry for a day I wish they can swap places with black girls in Africa rather than crop them out In their Orgarnisation black women are not hired They have made Africans fighting poverty their targets of their smear campaign against the gas industry I bet to say it is very racial for rich white liberals to engage in this approach White liberals are becoming the biggest stumbling block for black energy empowerment It is disappointing and no African child deserves to be victim of their anti African rhetoric and smears To be clear I am glad Europe is looking at Africa s natural gas in a new light I see their softened stance as a win win for both continents one with the potential to speed up the development of African gas infrastructure while helping Europe meet a pressing need I would only encourage Western leaders and radical environmental activists from around the globe to stop dismissing Africa s right to benefit from our natural gas reserves as well It is time to stop demonizing our oil and gas industry and pressuring Africa to stop pursuing new natural gas projects In light of our vast energy poverty a crisis impacting more than 600 million Africans it is not at all unreasonable to harness our resources for much needed gas to power initiatives Nor is it unreasonable to use our gas resources to foster economic growth industrialize Africa diversify our economies and create a better future for our rapidly growing population It is not unreasonable for Africa to set the timing for our transition to renewable energy sources either Those are a few of the reasons that the AEC will continue working unapologetically well into the future to foster a thriving natural gas industry for Africa I encourage you to read the rest of our natural gas outlook along with our other expectations for 2023 in the full report available at http bit ly 3NbQLtD
    Africa’s Gas Markets Interconnected and in a Squeeze Going Into 2023 (By NJ Ayuk)
      By NJ Ayuk Executive Chairman African Energy Chamber www EnergyChamber org The global gas markets are interconnected As the recently released report from the African Energy Chamber AEC The State of African Energy 2023 Outlook notes just how closely they re linked becomes more apparent and more important during times of strife such as the war in Ukraine Before invading Ukraine Russia expected to increase its gas production by 800 billion cubic meters bcm by 2030 both to expand its presence in the Chinese market and to maintain its European market share But just as Russia didn t consider the possibility of a protracted conflict with Ukraine it seems they also didn t predict the response across Europe Many customers expressed their outrage by cutting their imports of Russian natural gas The significant drop in export volumes to Europe is taking a substantial bite out of Russian revenues which in turn means that some projects like developing huge gas condensate resources in east Siberia and the Yamal Peninsula will be delayed by at least three to four years The AEC s latest estimates see Russia s average production loss at around 140 bcm per year between 2022 and 2030 We re All Connected As Russian output decreases global volumes of natural gas are expected to fall in the short term despite additional production in North America Prior to 2022 global natural gas volumes were expected to rise marginally higher But since the invasion of Ukraine the AEC report indicates a 150 bcm decrease for this year and anticipates a 165 bcm decrease in 2023 The decline over the medium term is even more striking The average drop in global output between 2022 and 2030 is estimated to exceed 200 bcm per year Because of Russia s dominance in the oil and gas industry we ll all feel the effects of their decreased production The resulting squeeze on the global LNG market likely will continue to push natural gas prices higher around the world Changing Market Partners What s more Europe s attempt to wean itself from Russian gas has put it in a precarious situation The region still needs huge volumes of liquefied natural gas LNG imports to fulfill their substantial energy needs The chamber s report anticipates Europe s LNG demand to increase by 20 40 million tonnes per annum mtpa through 2030 Europe wisely has been considering multiple strategies to replace the gas it had been receiving from Russia including more imports from Africa We expect to see Algeria Egypt and Nigeria leading African gas and LNG flows to Europe This seems like a natural progression After all as Africa s largest energy producers they already supply some natural gas to Europe and have enough capacity to increase production within the next few years While our report expects to see Africa s overall natural gas production dip through 2025 LNG exports are expected to pick up in short term in response to Europe s need Algeria for one is already supplying fuel directly to Spain and Italy through two pipelines across the floor of the Mediterranean Sea And with overall gas liquefaction capacity of about 75 3 mtpa this activity could help solve Europe s energy crunch in the medium term As I discussed back in August a few other African countries are pursuing some exciting long term natural gas developments that seem fit to help Europe free itself from its dependence on Russian gas Tanzania and Mozambique LNG plants capable of sending large volumes of fuel to European markets are expected near the end of the decade Republic of Congo A medium scale modular project may begin production a few years earlier than planned Mauritania and Namibia Several completely new grassroots greenfield projects are under discussion Angola A group of international majors plans to bring new fields online to facilitate LNG production Fortuna LNG in Equatorial Guinea GTA in Senegal and Mauritania Search for a Just Transition What we find quite striking is that amid campaigns for a carbon neutral future the pursuit of independence from Russian energy has softened Europe s stance on natural gas European countries which had been heavily pushing for African nations to make a rapid transition from fossil fuels to renewable energy sources have a renewed interest in investing in African gas The European Union has even started referring to gas as a green energy This reversal reveals a key lesson Wealthy countries will always seek to safeguard their own energy security at any cost This is not the case when it comes to radical environmental group extinction rebellion and privilege Europeans like Chloe Lebrand who have never spent a day without lights or gone hungry for a day I wish they can swap places with black girls in Africa rather than crop them out In their Orgarnisation black women are not hired They have made Africans fighting poverty their targets of their smear campaign against the gas industry I bet to say it is very racial for rich white liberals to engage in this approach White liberals are becoming the biggest stumbling block for black energy empowerment It is disappointing and no African child deserves to be victim of their anti African rhetoric and smears To be clear I am glad Europe is looking at Africa s natural gas in a new light I see their softened stance as a win win for both continents one with the potential to speed up the development of African gas infrastructure while helping Europe meet a pressing need I would only encourage Western leaders and radical environmental activists from around the globe to stop dismissing Africa s right to benefit from our natural gas reserves as well It is time to stop demonizing our oil and gas industry and pressuring Africa to stop pursuing new natural gas projects In light of our vast energy poverty a crisis impacting more than 600 million Africans it is not at all unreasonable to harness our resources for much needed gas to power initiatives Nor is it unreasonable to use our gas resources to foster economic growth industrialize Africa diversify our economies and create a better future for our rapidly growing population It is not unreasonable for Africa to set the timing for our transition to renewable energy sources either Those are a few of the reasons that the AEC will continue working unapologetically well into the future to foster a thriving natural gas industry for Africa I encourage you to read the rest of our natural gas outlook along with our other expectations for 2023 in the full report available at http bit ly 3NbQLtD
    Africa’s Gas Markets Interconnected and in a Squeeze Going Into 2023 (By NJ Ayuk)
    Africa2 months ago

    Africa’s Gas Markets Interconnected and in a Squeeze Going Into 2023 (By NJ Ayuk)

    By NJ Ayuk, Executive Chairman, African Energy Chamber (www.EnergyChamber.org) The global gas markets are interconnected.

    As the recently released report from the African Energy Chamber (AEC), “The State of African Energy: 2023 Outlook,” notes, just how closely they’re linked becomes more apparent — and more important — during times of strife, such as the war in Ukraine.

    Before invading Ukraine, Russia expected to increase its gas production by 800 billion cubic meters (bcm) by 2030, both to expand its presence in the Chinese market and to maintain its European market share.

    But just as Russia didn’t consider the possibility of a protracted conflict with Ukraine, it seems they also didn’t predict the response across Europe: Many customers expressed their outrage by cutting their imports of Russian natural gas.

    The significant drop in export volumes to Europe is taking a substantial bite out of Russian revenues, which in turn means that some projects — like developing huge gas condensate resources in east Siberia and the Yamal Peninsula — will be delayed by at least three to four years.

    The AEC’s latest estimates see Russia’s average production loss at around 140 bcm per year between 2022 and 2030.

    We’re All Connected As Russian output decreases, global volumes of natural gas are expected to fall in the short term, despite additional production in North America.

    Prior to 2022, global natural gas volumes were expected to rise marginally higher.

    But since the invasion of Ukraine, the AEC report indicates a 150 bcm decrease for this year and anticipates a 165 bcm decrease in 2023.

    The decline over the medium term is even more striking: The average drop in global output between 2022 and 2030 is estimated to exceed 200 bcm per year.

    Because of Russia’s dominance in the oil and gas industry, we’ll all feel the effects of their decreased production.

    The resulting squeeze on the global LNG market likely will continue to push natural gas prices higher around the world.

    Changing Market Partners What’s more, Europe’s attempt to wean itself from Russian gas has put it in a precarious situation.

    The region still needs huge volumes of liquefied natural gas (LNG) imports to fulfill their substantial energy needs.

    The chamber’s report anticipates Europe’s LNG demand to increase by 20-40 million tonnes per annum (mtpa) through 2030.

    Europe, wisely, has been considering multiple strategies to replace the gas it had been receiving from Russia, including more imports from Africa.

    We expect to see Algeria, Egypt, and Nigeria leading African gas and LNG flows to Europe.

    This seems like a natural progression.

    After all, as Africa’s largest energy producers they already supply some natural gas to Europe and have enough capacity to increase production within the next few years.

    While our report expects to see Africa’s overall natural gas production dip through 2025, LNG exports are expected to pick up in short term in response to Europe’s need.

    Algeria, for one, is already supplying fuel directly to Spain and Italy through two pipelines across the floor of the Mediterranean Sea. And with overall gas liquefaction capacity of about 75.3 mtpa, this activity could help solve Europe’s energy crunch in the medium term.

    As I discussed back in August, a few other African countries are pursuing some exciting long-term natural gas developments that seem fit to help Europe free itself from its dependence on Russian gas: Tanzania and Mozambique: LNG plants capable of sending large volumes of fuel to European markets are expected near the end of the decade.

    Republic of Congo: A medium-scale modular project may begin production a few years earlier than planned.

    Mauritania and Namibia: Several completely new grassroots greenfield projects are under discussion.

    Angola: A group of international majors plans to bring new fields online to facilitate LNG production.

    Fortuna LNG in Equatorial Guinea GTA in Senegal and Mauritania Search for a ‘Just’ Transition What we find quite striking is that, amid campaigns for a carbon-neutral future, the pursuit of independence from Russian energy has softened Europe’s stance on natural gas.

    European countries, which had been heavily pushing for African nations to make a rapid transition from fossil fuels to renewable energy sources, have a renewed interest in investing in African gas.

    The European Union has even started referring to gas as a “green energy.” This reversal reveals a key lesson: Wealthy countries will always seek to safeguard their own energy security – at any cost.

    This is not the case when it comes to radical environmental group extinction rebellion and privilege Europeans like Chloe Lebrand who have never spent a day without lights or gone hungry for a day.

    I wish they can swap places with black girls in Africa rather than crop them out.

    In their Orgarnisation, black women are not hired.

    They have made Africans fighting poverty their targets of their smear campaign against the gas industry.

    I bet to say it is very racial for rich white liberals to engage in this approach.

    White liberals are becoming the biggest stumbling block for black energy empowerment.

     It is disappointing and no African child deserves to be victim of their anti-African rhetoric and smears.

    To be clear, I am glad Europe is looking at Africa’s natural gas in a new light.

    I see their softened stance as a win-win for both continents, one with the potential to speed up the development of African gas infrastructure while helping Europe meet a pressing need.

    I would only encourage Western leaders and radical environmental activists from around the globe to stop dismissing Africa’s right to benefit from our natural gas reserves as well.

    It is time to stop demonizing our oil and gas industry and pressuring Africa to stop pursuing new natural gas projects.

    In light of our vast energy poverty—a crisis impacting more than 600 million Africans—it is not at all unreasonable to harness our resources for much-needed gas-to-power initiatives.

    Nor is it unreasonable to use our gas resources to foster economic growth, industrialize Africa, diversify our economies, and create a better future for our rapidly growing population.

    It is not unreasonable for Africa to set the timing for our transition to renewable energy sources, either.

    Those are a few of the reasons that the AEC will continue working, unapologetically, well into the future to foster a thriving natural gas industry for Africa.

    I encourage you to read the rest of our natural gas outlook, along with our other expectations for 2023, in the full report available at http://bit.ly/3NbQLtD.

  •   As the voice of the African energy sector the African Energy Chamber AEC www EnergyChamber org is committed to facilitating new investment across Africa s entire energy landscape while promoting the role natural gas and sustainable hydrocarbon development plays in the continent s energy future To this effect the AEC is proud to announce that Executive Chairman NJ Ayuk will attend the fifth edition of the Congo International Conference amp Exhibition on Hydrocarbons CIEHC 5 set to take place from November 30 to December 02 this year in Brazzaville Congo The event takes place at a time when the Congolese energy market is in the midst of a sectoral revival owing to regulatory reforms an accelerated E amp P drive and rapid increases in global demand for natural gas As the third largest oil producer in sub Saharan Africa with offshore extraction measured at 336 000 barrels per day from 2 9 billion barrels of proven oil reserves the country has been focused on scaling up exploration and production in the hopes of improving energy access industrialization and revenue generation both in country and across the entire sub Saharan African region Driving the E amp P agenda has been a slate of market focused regulatory reforms as well as the ongoing commitment by the Ministry of Hydrocarbons led by H E Bruno Jean Richard Itoua In the hopes of securing new investment and international oil company IOC participation the Congolese government has introduced more favorable terms for operators and investors through the implementation of changes to key legal and regulatory frameworks Specifically through strategic changes made within the fiscal framework the introduction of two bid licensing round launched in 2015 and 2018 2019 and opening up 13 blocks and 15 blocks for bidding respectively the introduction of a revised Hydrocarbons Code in 2016 which reduced natural gas royalties from 15 to 5 while introducing industry specific regulations for foreign investment as well as strong local content policies put in place the Congo has become more attractive than ever And these regulatory reforms have already reaped successes across the market A slate of global energy majors and regional independents are currently active in the country working in close collaboration with the national oil company Soci t Nationale des P trolers du Congo SNPC including TotalEnergies Perenco Chevron Eni and Lukoil to name a few For their part these companies continue to drive sustainable hydrocarbon developments across the country s on and offshore basins Meanwhile with approximately 10 trillion cubic feet of natural gas reserves at its disposal the country has deployed an accelerated gas drive in the hopes of positioning itself as a regional hub and globally competitive producer Backed by the country s Gas Master Plan GMP a medium to long term strategy for the scaling up of natural gas investment and development in the country the Congo has been steadfast in its commitment to unlocking the true potential of its gas sector On the domestic front the GMP is targeting widespread gas to power adoption with the launch of projects such as Centrale lectrique du Dj no and Centrale lectrique du Congo gas fired power plants operated by Eni the largest gas producer in the country Meanwhile on the export front the GMP has laid the foundation for large scale project deployment which will see the country become one of Africa s biggest producers of gas Notable projects include Eni s Marine XII offshore block and the 1 4 million ton per annum Marine XII Fast Liquefied Natural Gas LNG project set for launch in 2023 Now with the GMP incentivizing even further investment in the gas market the Congo is set to witness unprecedented growth in 2022 and beyond The Republic of Congo offers regional and foreign investors alike with the right operating environment attractive resource opportunities and the market driven regulations that will help them make high returns on investment Having already established itself as one of Africa s biggest oil producers the country is set to become one of the leading gas producers on the continent thanks to the commitment of the Ministry of Hydrocarbons and the enabling environment put in place by the government In 2022 with the backing of the GMP and Minister Itoua s position as the rotating President of the Organization of Petroleum Exporting Countries the country was able to make a strong play for Congo directed investment pushing a narrative of a just energy transition using gas I am looking forward to the discussions that will be centered around gas and sustainable hydrocarbon development states NJ Ayuk Executive Chairman of the AEC
    African Energy Chamber (AEC) to Attend 5th Edition of the Congo International Conference & Exhibition on Hydrocarbons in Congo
      As the voice of the African energy sector the African Energy Chamber AEC www EnergyChamber org is committed to facilitating new investment across Africa s entire energy landscape while promoting the role natural gas and sustainable hydrocarbon development plays in the continent s energy future To this effect the AEC is proud to announce that Executive Chairman NJ Ayuk will attend the fifth edition of the Congo International Conference amp Exhibition on Hydrocarbons CIEHC 5 set to take place from November 30 to December 02 this year in Brazzaville Congo The event takes place at a time when the Congolese energy market is in the midst of a sectoral revival owing to regulatory reforms an accelerated E amp P drive and rapid increases in global demand for natural gas As the third largest oil producer in sub Saharan Africa with offshore extraction measured at 336 000 barrels per day from 2 9 billion barrels of proven oil reserves the country has been focused on scaling up exploration and production in the hopes of improving energy access industrialization and revenue generation both in country and across the entire sub Saharan African region Driving the E amp P agenda has been a slate of market focused regulatory reforms as well as the ongoing commitment by the Ministry of Hydrocarbons led by H E Bruno Jean Richard Itoua In the hopes of securing new investment and international oil company IOC participation the Congolese government has introduced more favorable terms for operators and investors through the implementation of changes to key legal and regulatory frameworks Specifically through strategic changes made within the fiscal framework the introduction of two bid licensing round launched in 2015 and 2018 2019 and opening up 13 blocks and 15 blocks for bidding respectively the introduction of a revised Hydrocarbons Code in 2016 which reduced natural gas royalties from 15 to 5 while introducing industry specific regulations for foreign investment as well as strong local content policies put in place the Congo has become more attractive than ever And these regulatory reforms have already reaped successes across the market A slate of global energy majors and regional independents are currently active in the country working in close collaboration with the national oil company Soci t Nationale des P trolers du Congo SNPC including TotalEnergies Perenco Chevron Eni and Lukoil to name a few For their part these companies continue to drive sustainable hydrocarbon developments across the country s on and offshore basins Meanwhile with approximately 10 trillion cubic feet of natural gas reserves at its disposal the country has deployed an accelerated gas drive in the hopes of positioning itself as a regional hub and globally competitive producer Backed by the country s Gas Master Plan GMP a medium to long term strategy for the scaling up of natural gas investment and development in the country the Congo has been steadfast in its commitment to unlocking the true potential of its gas sector On the domestic front the GMP is targeting widespread gas to power adoption with the launch of projects such as Centrale lectrique du Dj no and Centrale lectrique du Congo gas fired power plants operated by Eni the largest gas producer in the country Meanwhile on the export front the GMP has laid the foundation for large scale project deployment which will see the country become one of Africa s biggest producers of gas Notable projects include Eni s Marine XII offshore block and the 1 4 million ton per annum Marine XII Fast Liquefied Natural Gas LNG project set for launch in 2023 Now with the GMP incentivizing even further investment in the gas market the Congo is set to witness unprecedented growth in 2022 and beyond The Republic of Congo offers regional and foreign investors alike with the right operating environment attractive resource opportunities and the market driven regulations that will help them make high returns on investment Having already established itself as one of Africa s biggest oil producers the country is set to become one of the leading gas producers on the continent thanks to the commitment of the Ministry of Hydrocarbons and the enabling environment put in place by the government In 2022 with the backing of the GMP and Minister Itoua s position as the rotating President of the Organization of Petroleum Exporting Countries the country was able to make a strong play for Congo directed investment pushing a narrative of a just energy transition using gas I am looking forward to the discussions that will be centered around gas and sustainable hydrocarbon development states NJ Ayuk Executive Chairman of the AEC
    African Energy Chamber (AEC) to Attend 5th Edition of the Congo International Conference & Exhibition on Hydrocarbons in Congo
    Africa2 months ago

    African Energy Chamber (AEC) to Attend 5th Edition of the Congo International Conference & Exhibition on Hydrocarbons in Congo

    As the voice of the African energy sector, the African Energy Chamber (AEC) (www.EnergyChamber.org) is committed to facilitating new investment across Africa’s entire energy landscape while promoting the role natural gas and sustainable hydrocarbon development plays in the continent’s energy future.

    To this effect, the AEC is proud to announce that Executive Chairman NJ Ayuk will attend the fifth edition of the Congo International Conference & Exhibition on Hydrocarbons (CIEHC 5), set to take place from November 30 to December 02 this year in Brazzaville, Congo.

    The event takes place at a time when the Congolese energy market is in the midst of a sectoral revival owing to regulatory reforms, an accelerated E&P drive and rapid increases in global demand for natural gas.

    As the third largest oil producer in sub-Saharan Africa – with offshore extraction measured at 336,000 barrels per day from 2.9 billion barrels of proven oil reserves – the country has been focused on scaling up exploration and production in the hopes of improving energy access, industrialization and revenue generation, both in-country and across the entire sub-Saharan African region.

    Driving the E&P agenda has been a slate of market-focused regulatory reforms as well as the ongoing commitment by the Ministry of Hydrocarbons led by H.E. Bruno Jean-Richard Itoua.

    In the hopes of securing new investment and international oil company (IOC) participation, the Congolese government has introduced more favorable terms for operators and investors through the implementation of changes to key legal and regulatory frameworks.

    Specifically, through strategic changes made within the fiscal framework; the introduction of two bid licensing round – launched in 2015 and 2018-2019, and opening up 13 blocks and 15 blocks for bidding, respectively - the introduction of a revised Hydrocarbons Code in 2016 which reduced natural gas royalties from 15% to 5% while introducing industry-specific regulations for foreign investment, as well as strong local content policies put in place, the Congo has become more attractive than ever.

    And these regulatory reforms have already reaped successes across the market.

    A slate of global energy majors and regional independents are currently active in the country, working in close collaboration with the national oil company, Société Nationale des Pétrolers du Congo (SNPC), including TotalEnergies, Perenco, Chevron, Eni and Lukoil, to name a few.

    For their part, these companies continue to drive sustainable hydrocarbon developments across the country’s on- and offshore basins.

    Meanwhile, with approximately 10 trillion cubic feet of natural gas reserves at its disposal, the country has deployed an accelerated gas drive in the hopes of positioning itself as a regional hub and globally competitive producer.

    Backed by the country’s Gas Master Plan (GMP) – a medium to long-term strategy for the scaling up of natural gas investment and development in the country - the Congo has been steadfast in its commitment to unlocking the true potential of its gas sector.

    On the domestic front, the GMP is targeting widespread gas-to-power adoption with the launch of projects such as Centrale Électrique du Djėno and Centrale Électrique du Congo gas-fired power plants – operated by Eni, the largest gas producer in the country.

    Meanwhile, on the export front, the GMP has laid the foundation for large-scale project deployment which will see the country become one of Africa’s biggest producers of gas.

    Notable projects include Eni’s Marine XII offshore block and the 1.4 million ton per annum Marine XII Fast Liquefied Natural Gas (LNG) project – set for launch in 2023.

    Now, with the GMP incentivizing even further investment in the gas market, the Congo is set to witness unprecedented growth in 2022 and beyond.

    “The Republic of Congo offers regional and foreign investors alike with the right operating environment, attractive resource opportunities and the market-driven regulations that will help them make high returns on investment.

    Having already established itself as one of Africa’s biggest oil producers, the country is set to become one of the leading gas producers on the continent thanks to the commitment of the Ministry of Hydrocarbons and the enabling environment put in place by the government.

    In 2022, with the backing of the GMP and Minister Itoua’s position as the rotating President of the Organization of Petroleum Exporting Countries, the country was able to make a strong play for Congo-directed investment, pushing a narrative of a just energy transition using gas.

    I am looking forward to the discussions that will be centered around gas and sustainable hydrocarbon development,” states NJ Ayuk, Executive Chairman of the AEC.

  •   By NJ Ayuk Executive Chairman African Energy Chamber http www EnergyChamber org As the executive chairman of the African Energy Chamber AEC it s my honor and my privilege to tell the world the story of Africa s oil and gas industry to explain what this continent can do to help power the world and fuel its own future But it s also my mission to talk about African energy poverty and to explain why this continent needs better access to energy now in order to illuminate its own potential and power forward To illustrate the issue of energy poverty in general I d like to focus on energy poverty in Nigeria in particular Within Africa Nigeria is an interesting subject It s the most heavily populated country in Africa with more than 200 million citizens It surpassed South Africa to become the continent s largest economy about a decade ago and its GDP topped USD441 5 billion in 2021 It has the largest crude oil reserves in sub Saharan Africa and is typically the largest liquids producer in the region though output figures have slumped this year due to problems with theft and sabotage Likewise it has sub Saharan Africa s biggest reserves of natural and associated gas and is far and away the region s biggest gas producer Nigeria also experiences significant energy poverty despite these advantages As noted in the AEC s recently released report The State of African Energy 2023 Outlook consistent access to modern energy services that is steady and reliable electricity supplies is available to only 60 of the country s population on average and access rates appear to be significantly lower in rural areas than they are in urban areas And according to World Bank data about 99 9 million people or more than 47 of Nigeria s population lived in rural areas as of the end of 2021 That means nearly 100 million Nigerians are living without any true level of certainty that the lights and the electric power that so many in the developed world take for granted will stay on I for one think they deserve to have that certainty They deserve it on human grounds and their country already has a significant amount of what is needed to provide them with it And by that I mean that Nigeria has gas that it could use to generate power What Nigeria Has As I ve already noted the country s gas resources are the largest in sub Saharan Africa Nigeria has already been shown to have more than 200 trillion cubic feet tcf of gas in proven reserves and government officials believe that the figure could go even higher perhaps reaching 600 trillion cubic feet tcf following additional exploration If that prediction comes true Nigeria will have the fourth largest gas reserves in the world behind only Russia Iran and Qatar It will have more than enough gas to meet current demand it will have enough gas to produce significant volumes of LNG for export while also supporting gasification programs both on the domestic and regional levels But it s not enough just to have all that gas Nigeria also needs the means to make use of its gas Without the proper infrastructure it won t be able to put its resources to work and will merely have a scattered collection of raw materials What Nigeria Needs In practical terms this means that Nigeria ought to have the following Upstream production facilities for gas Midstream gas transportation facilities such as pipelines including field networks and trunk lines Downstream gas processing plants and production facilities for gas derived fuels such as liquefied natural gas LNG compressed natural gas CNG and liquid petroleum gas LPG Downstream gas distribution systems including town gas networks Downstream gas storage depots Gas fired thermal power plants TPPs preferably co generation plants as they are more efficient Transmission distribution and storage infrastructure for the electricity produced by gas fired TPPs Smart and secure operational technology OT systems that can optimize the flow of data and resources between consumer markets and energy networks I m not suggesting here that it s the Nigerian government s job to provide all this infrastructure But I do believe that it s Abuja s responsibility to make sure that this infrastructure becomes available To this end I think that Nigeria also needs government bureaucracies that are competent and trustworthy enough to ensure that oil gas and power related contracts are only awarded to companies capable of providing the goods and services required within the acceptable parameters What Nigeria Envisions Developing this infrastructure requires the right kind of vision which Nigeria already has in place its Decade of Gas program is designed to make the country entirely gas powered by 2030 When President Muhammadu Buhari rolled out this initiative in March 2021 he indicated that it aimed to make the gas sector the cornerstone of Nigerian economic activity By the time the Decade of Gas comes to an end he said the country will have done the following Adopted a new oil and gas law to facilitate investment Carried out new exploration projects discovered new reserves and brought new fields onstream Constructed new gas processing plants and production facilities for LPG and other gas derived fuels Built new export pipelines and constructed new production trains at gas liquefaction plants such as Nigeria LNG NLNG Constructed new domestic pipelines along routes to serve local customers plus gas fired thermal power plants TPPs to increase domestic electricity supplies Expanded domestic power transmission and distribution networks especially in rural areas Nigeria still has a significant amount of ground to cover before it achieves all of these targets However it has made progress The biggest example of this is the Petroleum Industry Act PIA which Buhari signed into law after it passed both houses of the National Assembly The Nigerian government is also successfully promoting LPG a gas derived fuel as a replacement for wood and charcoal as cooking fuel According to NLNG domestic LPG consumption has climbed by around 1 000 over the last 14 years And as recently as this November Nigeria moved closer to building its first floating liquified natural gas FLNG facility Nigerian company UTM Offshore signed a front end engineering design FEED contract to design the facility with JGC Corporation Technip Energies and KBR Chief Timipre Sylva Minister of Petroleum Resources Nigeria described the project as a step in the right direction for Nigeria to develop exploit and monetize its natural gas During the African Energy Week in Cape Town Amni International Petroleum Development Company Limited a Nigerian independent oil and gas exploration and production company and the African Export Import Bank Afreximbank signed an agreement for the provision of a 600 million syndicated reserve based lending facility To a lesser extent Abuja can also claim credit for the headway it has made on the Ajaokuta Kaduna Kano AKK pipeline which is being built to bring gas to the northern part of the country When finished the pipeline will deliver fuel to gas powered industrial facilities and feedstock to TPPs with a generating capacity of 3 600 MW It may also serve eventually as the first leg of the Trans Saharan Gas Pipeline TSGP network which will allow Nigeria to export gas to Europe via Algeria Unfortunately though the project has been running behind schedule and the heavy floods that began hitting many parts of the country in mid 2022 have caused additional delays In the meantime Abuja has also moved forward with plans for establishing another gas export network the Nigeria Morocco Gas Pipeline NMGP a 5 600 km offshore network that would serve more than a dozen West African states This system would like TSGP pump Nigerian gas to Europe but it would also serve the purpose of delivering the gas to regional markets as well As such it would establish Nigeria as a supplier of fuel to much of West Africa Thus far neither NMGP nor TSGP has been built But Nigerian authorities are working to hammer out agreements on these projects and they see the ways that European market conditions have changed since the beginning of 2022 as an incentive to work harder and to work faster What Nigeria Could Achieve If they succeed they will create infrastructure that could do quite a bit to alleviate energy poverty in Nigeria and beyond In the case of NMGP the construction of this pipeline would provide multiple countries beyond Nigeria with a steady source of gas As such it would serve as an incentive for the construction of TPPs in places where millions of people do not have access to reliable energy supplies At the same time the pipeline s access to European markets where buyers are more likely to pay in hard currency would help ensure the profitability of the whole system Likewise the TSGP network has the potential to benefit Nigeria by ensuring that the country has enough access to hard currency markets in Europe to cover the costs of the domestic initiatives that depend on AKK that is the gas fired power and industrial projects in the northern part of the country Infrastructure Is Needed Throughout the Continent Of course energy poverty is not limited to Nigeria more than 600 million people in Africa lack access to electricity and nearly 730 million use hazardous and inefficient cooking fuels and technologies Nevertheless while each African country is unique I hope that this look at Nigeria helps shed light on some of the common challenges facing our continent s countries a higher rate of energy poverty in rural areas and the tremendous need for infrastructure development As The State of African Energy 2023 Outlook points out even in the four African countries with a universal electricity rate of more than 70 Egypt South Africa Kenya and Algeria access to electricity drops significantly in rural areas to an average of about 63 of the population compared to an average of 96 in urban areas The situation for rural Africans is even more dismal in other parts of the continent In the Democratic Republic of Congo for example only about 19 of the overall population has access to electricity and in rural areas only 1 of the population has electricity This will not change until we develop the necessary infrastructure to deliver energy to Africans throughout the continent On the brighter side Nigeria also gives us examples of measures African countries can take to begin addressing these challenges No Nigeria has not achieved its ultimate goal eradicating energy poverty but it has plans and initiatives in place with real potential to make a difference as long as Nigeria continues pursuing them If they haven t done it yet governments throughout the continent should be developing and implementing multipronged programs of their own to eradicate energy poverty They like Nigeria should be leveraging their natural gas resources They should be developing and executing gas utilization plans improving their approach to resource management monetizing natural gas to help pay for infrastructure projects and launching more gas to power initiatives Instead of being daunted by the vast numbers of Africans without electricity shrugging our shoulders and giving up I hope that we will be steadfast in our determination to make energy poverty history by the end of this decade For a complete look at our recommendations and The State of African Energy 2023 Outlook download our report here https bit ly 3goAZzK
    Nigeria and African Energy Poverty and Gas-To-Power Projects: Build More and Build Better (By NJ Ayuk)
      By NJ Ayuk Executive Chairman African Energy Chamber http www EnergyChamber org As the executive chairman of the African Energy Chamber AEC it s my honor and my privilege to tell the world the story of Africa s oil and gas industry to explain what this continent can do to help power the world and fuel its own future But it s also my mission to talk about African energy poverty and to explain why this continent needs better access to energy now in order to illuminate its own potential and power forward To illustrate the issue of energy poverty in general I d like to focus on energy poverty in Nigeria in particular Within Africa Nigeria is an interesting subject It s the most heavily populated country in Africa with more than 200 million citizens It surpassed South Africa to become the continent s largest economy about a decade ago and its GDP topped USD441 5 billion in 2021 It has the largest crude oil reserves in sub Saharan Africa and is typically the largest liquids producer in the region though output figures have slumped this year due to problems with theft and sabotage Likewise it has sub Saharan Africa s biggest reserves of natural and associated gas and is far and away the region s biggest gas producer Nigeria also experiences significant energy poverty despite these advantages As noted in the AEC s recently released report The State of African Energy 2023 Outlook consistent access to modern energy services that is steady and reliable electricity supplies is available to only 60 of the country s population on average and access rates appear to be significantly lower in rural areas than they are in urban areas And according to World Bank data about 99 9 million people or more than 47 of Nigeria s population lived in rural areas as of the end of 2021 That means nearly 100 million Nigerians are living without any true level of certainty that the lights and the electric power that so many in the developed world take for granted will stay on I for one think they deserve to have that certainty They deserve it on human grounds and their country already has a significant amount of what is needed to provide them with it And by that I mean that Nigeria has gas that it could use to generate power What Nigeria Has As I ve already noted the country s gas resources are the largest in sub Saharan Africa Nigeria has already been shown to have more than 200 trillion cubic feet tcf of gas in proven reserves and government officials believe that the figure could go even higher perhaps reaching 600 trillion cubic feet tcf following additional exploration If that prediction comes true Nigeria will have the fourth largest gas reserves in the world behind only Russia Iran and Qatar It will have more than enough gas to meet current demand it will have enough gas to produce significant volumes of LNG for export while also supporting gasification programs both on the domestic and regional levels But it s not enough just to have all that gas Nigeria also needs the means to make use of its gas Without the proper infrastructure it won t be able to put its resources to work and will merely have a scattered collection of raw materials What Nigeria Needs In practical terms this means that Nigeria ought to have the following Upstream production facilities for gas Midstream gas transportation facilities such as pipelines including field networks and trunk lines Downstream gas processing plants and production facilities for gas derived fuels such as liquefied natural gas LNG compressed natural gas CNG and liquid petroleum gas LPG Downstream gas distribution systems including town gas networks Downstream gas storage depots Gas fired thermal power plants TPPs preferably co generation plants as they are more efficient Transmission distribution and storage infrastructure for the electricity produced by gas fired TPPs Smart and secure operational technology OT systems that can optimize the flow of data and resources between consumer markets and energy networks I m not suggesting here that it s the Nigerian government s job to provide all this infrastructure But I do believe that it s Abuja s responsibility to make sure that this infrastructure becomes available To this end I think that Nigeria also needs government bureaucracies that are competent and trustworthy enough to ensure that oil gas and power related contracts are only awarded to companies capable of providing the goods and services required within the acceptable parameters What Nigeria Envisions Developing this infrastructure requires the right kind of vision which Nigeria already has in place its Decade of Gas program is designed to make the country entirely gas powered by 2030 When President Muhammadu Buhari rolled out this initiative in March 2021 he indicated that it aimed to make the gas sector the cornerstone of Nigerian economic activity By the time the Decade of Gas comes to an end he said the country will have done the following Adopted a new oil and gas law to facilitate investment Carried out new exploration projects discovered new reserves and brought new fields onstream Constructed new gas processing plants and production facilities for LPG and other gas derived fuels Built new export pipelines and constructed new production trains at gas liquefaction plants such as Nigeria LNG NLNG Constructed new domestic pipelines along routes to serve local customers plus gas fired thermal power plants TPPs to increase domestic electricity supplies Expanded domestic power transmission and distribution networks especially in rural areas Nigeria still has a significant amount of ground to cover before it achieves all of these targets However it has made progress The biggest example of this is the Petroleum Industry Act PIA which Buhari signed into law after it passed both houses of the National Assembly The Nigerian government is also successfully promoting LPG a gas derived fuel as a replacement for wood and charcoal as cooking fuel According to NLNG domestic LPG consumption has climbed by around 1 000 over the last 14 years And as recently as this November Nigeria moved closer to building its first floating liquified natural gas FLNG facility Nigerian company UTM Offshore signed a front end engineering design FEED contract to design the facility with JGC Corporation Technip Energies and KBR Chief Timipre Sylva Minister of Petroleum Resources Nigeria described the project as a step in the right direction for Nigeria to develop exploit and monetize its natural gas During the African Energy Week in Cape Town Amni International Petroleum Development Company Limited a Nigerian independent oil and gas exploration and production company and the African Export Import Bank Afreximbank signed an agreement for the provision of a 600 million syndicated reserve based lending facility To a lesser extent Abuja can also claim credit for the headway it has made on the Ajaokuta Kaduna Kano AKK pipeline which is being built to bring gas to the northern part of the country When finished the pipeline will deliver fuel to gas powered industrial facilities and feedstock to TPPs with a generating capacity of 3 600 MW It may also serve eventually as the first leg of the Trans Saharan Gas Pipeline TSGP network which will allow Nigeria to export gas to Europe via Algeria Unfortunately though the project has been running behind schedule and the heavy floods that began hitting many parts of the country in mid 2022 have caused additional delays In the meantime Abuja has also moved forward with plans for establishing another gas export network the Nigeria Morocco Gas Pipeline NMGP a 5 600 km offshore network that would serve more than a dozen West African states This system would like TSGP pump Nigerian gas to Europe but it would also serve the purpose of delivering the gas to regional markets as well As such it would establish Nigeria as a supplier of fuel to much of West Africa Thus far neither NMGP nor TSGP has been built But Nigerian authorities are working to hammer out agreements on these projects and they see the ways that European market conditions have changed since the beginning of 2022 as an incentive to work harder and to work faster What Nigeria Could Achieve If they succeed they will create infrastructure that could do quite a bit to alleviate energy poverty in Nigeria and beyond In the case of NMGP the construction of this pipeline would provide multiple countries beyond Nigeria with a steady source of gas As such it would serve as an incentive for the construction of TPPs in places where millions of people do not have access to reliable energy supplies At the same time the pipeline s access to European markets where buyers are more likely to pay in hard currency would help ensure the profitability of the whole system Likewise the TSGP network has the potential to benefit Nigeria by ensuring that the country has enough access to hard currency markets in Europe to cover the costs of the domestic initiatives that depend on AKK that is the gas fired power and industrial projects in the northern part of the country Infrastructure Is Needed Throughout the Continent Of course energy poverty is not limited to Nigeria more than 600 million people in Africa lack access to electricity and nearly 730 million use hazardous and inefficient cooking fuels and technologies Nevertheless while each African country is unique I hope that this look at Nigeria helps shed light on some of the common challenges facing our continent s countries a higher rate of energy poverty in rural areas and the tremendous need for infrastructure development As The State of African Energy 2023 Outlook points out even in the four African countries with a universal electricity rate of more than 70 Egypt South Africa Kenya and Algeria access to electricity drops significantly in rural areas to an average of about 63 of the population compared to an average of 96 in urban areas The situation for rural Africans is even more dismal in other parts of the continent In the Democratic Republic of Congo for example only about 19 of the overall population has access to electricity and in rural areas only 1 of the population has electricity This will not change until we develop the necessary infrastructure to deliver energy to Africans throughout the continent On the brighter side Nigeria also gives us examples of measures African countries can take to begin addressing these challenges No Nigeria has not achieved its ultimate goal eradicating energy poverty but it has plans and initiatives in place with real potential to make a difference as long as Nigeria continues pursuing them If they haven t done it yet governments throughout the continent should be developing and implementing multipronged programs of their own to eradicate energy poverty They like Nigeria should be leveraging their natural gas resources They should be developing and executing gas utilization plans improving their approach to resource management monetizing natural gas to help pay for infrastructure projects and launching more gas to power initiatives Instead of being daunted by the vast numbers of Africans without electricity shrugging our shoulders and giving up I hope that we will be steadfast in our determination to make energy poverty history by the end of this decade For a complete look at our recommendations and The State of African Energy 2023 Outlook download our report here https bit ly 3goAZzK
    Nigeria and African Energy Poverty and Gas-To-Power Projects: Build More and Build Better (By NJ Ayuk)
    Africa2 months ago

    Nigeria and African Energy Poverty and Gas-To-Power Projects: Build More and Build Better (By NJ Ayuk)

    By NJ Ayuk, Executive Chairman, African Energy Chamber (http://www.EnergyChamber.org) As the executive chairman of the African Energy Chamber (AEC), it’s my honor and my privilege to tell the world the story of Africa’s oil and gas industry – to explain what this continent can do to help power the world and fuel its own future.

    But it’s also my mission to talk about African energy poverty and to explain why this continent needs better access to energy now in order to illuminate its own potential and power forward.

    To illustrate the issue of energy poverty in general, I’d like to focus on energy poverty in Nigeria in particular.

    Within Africa, Nigeria is an interesting subject.

    It’s the most heavily populated country in Africa, with more than 200 million citizens.

    It surpassed South Africa to become the continent’s largest economy about a decade ago, and its GDP topped USD441.5 billion in 2021.

    It has the largest crude oil reserves in sub-Saharan Africa and is typically the largest liquids producer in the region, though output figures have slumped this year due to problems with theft and sabotage.

    Likewise, it has sub-Saharan Africa’s biggest reserves of natural and associated gas and is far and away the region’s biggest gas producer.

    Nigeria also experiences significant energy poverty, despite these advantages.

    As noted in the AEC’s recently released report, “The State of African Energy: 2023 Outlook,” consistent access to modern energy services – that is, steady and reliable electricity supplies – is available to only 60% of the country’s population on average, and access rates appear to be significantly lower in rural areas than they are in urban areas.

    And according to World Bank data, about 99.9 million people, or more than 47% of Nigeria’s population, lived in rural areas as of the end of 2021.

    That means nearly 100 million Nigerians are living without any true level of certainty that the lights and the electric power that so many in the developed world take for granted will stay on.

    I, for one, think they deserve to have that certainty.

    They deserve it on human grounds, and their country already has a significant amount of what is needed to provide them with it.

    And by that, I mean that Nigeria has gas that it could use to generate power.

    What Nigeria Has As I’ve already noted, the country’s gas resources are the largest in sub-Saharan Africa.

    Nigeria has already been shown to have more than 200 trillion cubic feet (tcf) of gas in proven reserves, and government officials believe that the figure could go even higher, perhaps reaching 600 trillion cubic feet (tcf) following additional exploration.

    If that prediction comes true, Nigeria will have the fourth largest gas reserves in the world, behind only Russia, Iran, and Qatar.

    It will have more than enough gas to meet current demand; it will have enough gas to produce significant volumes of LNG for export while also supporting gasification programs, both on the domestic and regional levels.

    But it’s not enough just to have all that gas.

    Nigeria also needs the means to make use of its gas.

    Without the proper infrastructure, it won’t be able to put its resources to work and will merely have a scattered collection of raw materials.

    What Nigeria Needs In practical terms, this means that Nigeria ought to have the following: Upstream production facilities for gas.

    Midstream gas transportation facilities such as pipelines, including field networks and trunk lines.

    Downstream gas-processing plants and production facilities for gas-derived fuels such as liquefied natural gas (LNG), compressed natural gas (CNG), and liquid petroleum gas (LPG).

    Downstream gas distribution systems, including town gas networks.

    Downstream gas storage depots.

    Gas-fired thermal power plants (TPPs) – preferably co-generation plants, as they are more efficient.

    Transmission, distribution, and storage infrastructure for the electricity produced by gas-fired TPPs. Smart and secure operational technology (OT) systems that can optimize the flow of data and resources between consumer markets and energy networks I’m not suggesting here that it’s the Nigerian government’s job to provide all this infrastructure.

    But I do believe that it’s Abuja’s responsibility to make sure that this infrastructure becomes available.

    To this end, I think that Nigeria also needs government bureaucracies that are competent and trustworthy enough to ensure that oil-, gas-, and power-related contracts are only awarded to companies capable of providing the goods and services required within the acceptable parameters.

    What Nigeria Envisions Developing this infrastructure requires the right kind of vision, which Nigeria already has in place: its “Decade of Gas” program is designed to make the country entirely gas-powered by 2030.

    When President Muhammadu Buhari rolled out this initiative in March 2021, he indicated that it aimed to make the gas sector the cornerstone of Nigerian economic activity.

    By the time the “Decade of Gas” comes to an end, he said, the country will have done the following: Adopted a new oil and gas law to facilitate investment.

    Carried out new exploration projects, discovered new reserves, and brought new fields onstream.

    Constructed new gas-processing plants and production facilities for LPG and other gas-derived fuels.

    Built new export pipelines and constructed new production trains at gas liquefaction plants such as Nigeria LNG (NLNG).

    Constructed new domestic pipelines along routes to serve local customers plus gas-fired thermal power plants (TPPs) to increase domestic electricity supplies.

    Expanded domestic power transmission and distribution networks, especially in rural areas.

    Nigeria still has a significant amount of ground to cover before it achieves all of these targets.

    However, it has made progress.

    The biggest example of this is the Petroleum Industry Act (PIA), which Buhari signed into law after it passed both houses of the National Assembly.

    The Nigerian government is also successfully promoting LPG, a gas-derived fuel, as a replacement for wood and charcoal as cooking fuel.

    (According to NLNG, domestic LPG consumption has climbed by around 1,000% over the last 14 years.) And as recently as this November,  Nigeria moved closer to building its first floating liquified natural gas (FLNG) facility.

    Nigerian company UTM Offshore signed a front-end engineering design (FEED) contract to design the facility with JGC Corporation, Technip Energies, and KBR.

    Chief Timipre Sylva, Minister of Petroleum Resources, Nigeria, described the project as a step in the right direction for Nigeria to develop, exploit, and monetize its natural gas.

    During the African Energy Week in Cape Town, Amni International Petroleum Development Company Limited, a Nigerian independent oil and gas exploration and production company and the African Export–Import Bank (Afreximbank) signed an agreement for the provision of a $600 million syndicated reserve-based lending facility.

    To a lesser extent, Abuja can also claim credit for the headway it has made on the Ajaokuta-Kaduna-Kano (AKK) pipeline, which is being built to bring gas to the northern part of the country.

    When finished, the pipeline will deliver fuel to gas-powered industrial facilities and feedstock to TPPs with a generating capacity of 3,600 MW.

    It may also serve eventually as the first leg of the Trans-Saharan Gas Pipeline (TSGP) network, which will allow Nigeria to export gas to Europe via Algeria.

    Unfortunately, though, the project has been running behind schedule, and the heavy floods that began hitting many parts of the country in mid-2022 have caused additional delays.

    In the meantime, Abuja has also moved forward with plans for establishing another gas export network – the Nigeria-Morocco Gas Pipeline (NMGP), a 5,600-km offshore network that would serve more than a dozen West African states.

    This system would, like TSGP, pump Nigerian gas to Europe, but it would also serve the purpose of delivering the gas to regional markets as well.

    As such, it would establish Nigeria as a supplier of fuel to much of West Africa.

    Thus far, neither NMGP nor TSGP has been built.

    But Nigerian authorities are working to hammer out agreements on these projects – and they see the ways that European market conditions have changed since the beginning of 2022 as an incentive to work harder and to work faster.

    What Nigeria Could Achieve If they succeed, they will create infrastructure that could do quite a bit to alleviate energy poverty in Nigeria and beyond.

    In the case of NMGP, the construction of this pipeline would provide multiple countries beyond Nigeria with a steady source of gas.

    As such, it would serve as an incentive for the construction of TPPs in places where millions of people do not have access to reliable energy supplies.

    At the same time, the pipeline’s access to European markets, where buyers are more likely to pay in hard currency, would help ensure the profitability of the whole system.

    Likewise, the TSGP network has the potential to benefit Nigeria by ensuring that the country has enough access to hard-currency markets in Europe to cover the costs of the domestic initiatives that depend on AKK – that is, the gas-fired power and industrial projects in the northern part of the country.

    Infrastructure Is Needed Throughout the Continent Of course, energy poverty is not limited to Nigeria; more than 600 million people in Africa lack access to electricity, and nearly 730 million use hazardous and inefficient cooking fuels and technologies.

    Nevertheless, while each African country is unique, I hope that this look at Nigeria helps shed light on some of the common challenges facing our continent’s countries — a higher rate of energy poverty in rural areas and the tremendous need for infrastructure development.

    As “The State of African Energy: 2023 Outlook” points out, even in the four African countries with a universal electricity rate of more than 70% — Egypt, South Africa, Kenya, and Algeria — access to electricity drops significantly in rural areas, to an average of about 63% of the population, compared to an average of 96% in urban areas.

    The situation for rural Africans is even more dismal in other parts of the continent.

    In the Democratic Republic of Congo, for example, only about 19% of the overall population has access to electricity and in rural areas, only 1% of the population has electricity.

    This will not change until we develop the necessary infrastructure to deliver energy to Africans throughout the continent.

    On the brighter side, Nigeria also gives us examples of measures African countries can take to begin addressing these challenges.

    No, Nigeria has not achieved its ultimate goal-eradicating energy poverty, but it has plans and initiatives in place with real potential to make a difference — as long as Nigeria continues pursuing them.

    If they haven’t done it yet, governments throughout the continent should be developing and implementing multipronged programs of their own to eradicate energy poverty.

    They, like Nigeria, should be leveraging their natural gas resources.

    They should be developing and executing gas utilization plans, improving their approach to resource management, monetizing natural gas to help pay for infrastructure projects, and launching more gas-to-power initiatives.

    Instead of being daunted by the vast numbers of Africans without electricity, shrugging our shoulders, and giving up, I hope that we will be steadfast in our determination to make energy poverty history by the end of this decade.

    For a complete look at our recommendations and “The State of African Energy: 2023 Outlook,” download our report here (https://bit.ly/3goAZzK).

  •   By NJ Ayuk Executive Chairman African Energy Chamber http www EnergyChamber org When TotalEnergies and Shell separately announced significant discoveries of what appears to be commercial quantities of oil and gas offshore Namibia possibly more than 4 billion barrels of oil in total it signaled something new for the nation a chance to monetize its natural resources to combat energy poverty and accelerate economic growth The offshore deposits the nation s largest find since independence are at peak likely to provide Windhoek an estimated 5 6 billion annually in royalties and taxes and should help the nation double its 11 billion economy by 2040 The find also demonstrated how well African oil and gas development activity is faring despite repeated efforts to tamp it down With activist investors trying to stem the flow of international funds into African fossil fuel projects and major oil companies under pressure to rebalance their portfolios by adding lower emission assets the Namibia experience is impressive on several counts The pragmatism of Namibian officials has been encouraging to investors and we hope that pragmatism stays It s also likely a harbinger of things to come for Africa s upstream energy sector according to the African Energy Chamber s AEC s report The State of African Energy 2023 Outlook now available here http bit ly 3NbQLtD The report says investment in African upstream activities defined as exploration production and development will wrap up 2022 at about 33 billion then grow as much as 15 billion more over the period 2023 2025 compared to year end 2021 estimates In addition to Namibia greenfield spending that is foreign direct investment in new projects is being driven by Mauritania Senegal Uganda Congo Mozambique Ghana Angola and Cote d Ivoire In 2022 exploration alone was up 130 over 2021 Deep Pockets The twin discoveries by TotalEnergies and Shell came three weeks apart but there are no overnight successes in oil and gas Exploration by one company or another has been taking place in Namibia for more than 30 years and first production from the giant find isn t expected until 2028 Still while this is the largest discovery to date it s just the latest in a series of new opportunities that include a high impact onshore exploration program by Canadian oil company ReconAfrica the basin is the size of Texas and some are saying it could shape up to be the last great onshore oil discovery in the world and developments by Atlantic Oil amp Gas and Global Petroleum projects the 2023 Outlook describes in some detail Could there be better proof that the world isn t ready to abandon fossil fuels especially given the push and pull of market conditions and the fact that renewables while desirable aren t ready to replace hydrocarbons quite yet And could there be more evidence that the last frontier fields onshore and offshore Africa are considered a fruitful alternative to the world s legacy basins whose productivity is waning True COP26 and its international fossil fuel finance bans took the wind out of certain sails Lack of investment has delayed some projects and suspended others during the last year But even climate agreements haven t kept the United States International Development Finance Corporation DFC one of the primary funders of all types of overseas energy projects from plowing far more support into African oil and gas development than into renewables The Guardian recently reported that DFC and Exim the Export Import Bank of the United States have invested more than 9 billion in hydrocarbons compared to just 682 million in wind and solar Together they have bankrolled oil facilities in Senegal and Equatorial Guinea and invested in an Egyptian gas pipeline And in 2019 Exim agreed to provide a 4 7 billion loan to finance a project in northern Mozambique overseen by TotalEnergies The truth plain and simple is that the world needs more energy And Africa needs it even more than most Powering Progress Africa is ripe for increased energy development hydrocarbons and renewables alike especially as the continent undergoes dramatic demographic shifts chiefly staggering population growth sustained urbanization and greater industrialization Consider this In 1950 less than 10 of the world s population lived in Africa but by 2050 that figure will be closer to 25 Between now and then less than 30 years the populations of more than half of Africa s nations are expected to double In real numbers This means Africa will be home to 2 5 billion people by 2050 and its urban areas alone will have added 950 million people In fact Africa s cities are the fastest growing on the planet Generally speaking that s good news City life is associated with better economic outcomes for individuals as well as higher standards of living greater access to education jobs services infrastructure and electricity Progress in cities far outpaces rural areas by just about every metric Of course it takes a lot of energy and money to power progress Experts say energy demand in Africa is expected to be 30 higher over the next two decades by contrast global demand will only grow 10 meaning it will easily outstrip supply And although Africa has about 60 of the world s best solar resources its 1 installed solar capacity isn t likely to keep many lights on or factories running No wonder we re seeing the kind of uptick we are in upstream activity Sub Saharan Opportunity While oil is still in play much of the focus has pivoted to natural gas which is considered a cleaner even green fuel even by the most ardent hydrocarbon proponents Today analysts believe that countries with significant gas production could expect their gas reserves to be more resilient under various energy transition scenarios than their oil reserves What does that mean for Africa As discussed during African Energy Week in Cape Town the 2023 Outlook notes that the continent holds more gas potential in the medium term than oil more than 700 trillion cubic feet tcf of natural gas resources have been discovered in Africa but are yet to be approved for development Many of these discoveries are planned to be developed as liquified natural gas LNG projects In fact most of the gas projects sanctioned in Africa are related to supplying LNG either within Africa or to markets like China and Europe which is diversifying away from Russian gas With the exception of developments in Libya the LNG projects are largely in sub Saharan Africa As such this is where CAPEX spending is centered The AEC report estimates that 80 of the 2022 2025 cumulative greenfield spending from Africa is expected to come from sub Saharan projects While some decry those investments because they generate energy for export outside the continent government officials say their economies and therefore their citizens depend on resource wealth And intraregional trade within Africa is destined to grow especially as investment increases in gas infrastructure required to support domestic industrialization pipelines processing facilities and LNG regasification plants and the like A Template for the Future Regardless of whether they re onshore or offshore the Namibian discoveries aren t just important they re transformational ReconAfrica s huge conventional oil play is already providing well paying jobs to 200 people from the Kavango region where 40 of the people live in generational poverty and local hiring is expected to continue as the project advances The company has also made it a priority to provide clean water to the region they ve drilled four water wells and have permits for 16 more And as we ve seen time and time again in the energy business success breeds success In this case Namibia shares the same geological sedimentary basin with South Africa and Shell TotalEnergies PetroSA Sezigyn and Impact Africa all hold exploration acreage in the South African sector South Africa needs to move with a petroleum legislation immediately and ensure stability so more investment can come into the country The hydrocarbon potential of the region is tremendous suggesting the economic potential is as well as long as development is allowed to continue
    African Upstream Activity Trending Higher in 2023: What’s Driving the Increase? (By NJ Ayuk)
      By NJ Ayuk Executive Chairman African Energy Chamber http www EnergyChamber org When TotalEnergies and Shell separately announced significant discoveries of what appears to be commercial quantities of oil and gas offshore Namibia possibly more than 4 billion barrels of oil in total it signaled something new for the nation a chance to monetize its natural resources to combat energy poverty and accelerate economic growth The offshore deposits the nation s largest find since independence are at peak likely to provide Windhoek an estimated 5 6 billion annually in royalties and taxes and should help the nation double its 11 billion economy by 2040 The find also demonstrated how well African oil and gas development activity is faring despite repeated efforts to tamp it down With activist investors trying to stem the flow of international funds into African fossil fuel projects and major oil companies under pressure to rebalance their portfolios by adding lower emission assets the Namibia experience is impressive on several counts The pragmatism of Namibian officials has been encouraging to investors and we hope that pragmatism stays It s also likely a harbinger of things to come for Africa s upstream energy sector according to the African Energy Chamber s AEC s report The State of African Energy 2023 Outlook now available here http bit ly 3NbQLtD The report says investment in African upstream activities defined as exploration production and development will wrap up 2022 at about 33 billion then grow as much as 15 billion more over the period 2023 2025 compared to year end 2021 estimates In addition to Namibia greenfield spending that is foreign direct investment in new projects is being driven by Mauritania Senegal Uganda Congo Mozambique Ghana Angola and Cote d Ivoire In 2022 exploration alone was up 130 over 2021 Deep Pockets The twin discoveries by TotalEnergies and Shell came three weeks apart but there are no overnight successes in oil and gas Exploration by one company or another has been taking place in Namibia for more than 30 years and first production from the giant find isn t expected until 2028 Still while this is the largest discovery to date it s just the latest in a series of new opportunities that include a high impact onshore exploration program by Canadian oil company ReconAfrica the basin is the size of Texas and some are saying it could shape up to be the last great onshore oil discovery in the world and developments by Atlantic Oil amp Gas and Global Petroleum projects the 2023 Outlook describes in some detail Could there be better proof that the world isn t ready to abandon fossil fuels especially given the push and pull of market conditions and the fact that renewables while desirable aren t ready to replace hydrocarbons quite yet And could there be more evidence that the last frontier fields onshore and offshore Africa are considered a fruitful alternative to the world s legacy basins whose productivity is waning True COP26 and its international fossil fuel finance bans took the wind out of certain sails Lack of investment has delayed some projects and suspended others during the last year But even climate agreements haven t kept the United States International Development Finance Corporation DFC one of the primary funders of all types of overseas energy projects from plowing far more support into African oil and gas development than into renewables The Guardian recently reported that DFC and Exim the Export Import Bank of the United States have invested more than 9 billion in hydrocarbons compared to just 682 million in wind and solar Together they have bankrolled oil facilities in Senegal and Equatorial Guinea and invested in an Egyptian gas pipeline And in 2019 Exim agreed to provide a 4 7 billion loan to finance a project in northern Mozambique overseen by TotalEnergies The truth plain and simple is that the world needs more energy And Africa needs it even more than most Powering Progress Africa is ripe for increased energy development hydrocarbons and renewables alike especially as the continent undergoes dramatic demographic shifts chiefly staggering population growth sustained urbanization and greater industrialization Consider this In 1950 less than 10 of the world s population lived in Africa but by 2050 that figure will be closer to 25 Between now and then less than 30 years the populations of more than half of Africa s nations are expected to double In real numbers This means Africa will be home to 2 5 billion people by 2050 and its urban areas alone will have added 950 million people In fact Africa s cities are the fastest growing on the planet Generally speaking that s good news City life is associated with better economic outcomes for individuals as well as higher standards of living greater access to education jobs services infrastructure and electricity Progress in cities far outpaces rural areas by just about every metric Of course it takes a lot of energy and money to power progress Experts say energy demand in Africa is expected to be 30 higher over the next two decades by contrast global demand will only grow 10 meaning it will easily outstrip supply And although Africa has about 60 of the world s best solar resources its 1 installed solar capacity isn t likely to keep many lights on or factories running No wonder we re seeing the kind of uptick we are in upstream activity Sub Saharan Opportunity While oil is still in play much of the focus has pivoted to natural gas which is considered a cleaner even green fuel even by the most ardent hydrocarbon proponents Today analysts believe that countries with significant gas production could expect their gas reserves to be more resilient under various energy transition scenarios than their oil reserves What does that mean for Africa As discussed during African Energy Week in Cape Town the 2023 Outlook notes that the continent holds more gas potential in the medium term than oil more than 700 trillion cubic feet tcf of natural gas resources have been discovered in Africa but are yet to be approved for development Many of these discoveries are planned to be developed as liquified natural gas LNG projects In fact most of the gas projects sanctioned in Africa are related to supplying LNG either within Africa or to markets like China and Europe which is diversifying away from Russian gas With the exception of developments in Libya the LNG projects are largely in sub Saharan Africa As such this is where CAPEX spending is centered The AEC report estimates that 80 of the 2022 2025 cumulative greenfield spending from Africa is expected to come from sub Saharan projects While some decry those investments because they generate energy for export outside the continent government officials say their economies and therefore their citizens depend on resource wealth And intraregional trade within Africa is destined to grow especially as investment increases in gas infrastructure required to support domestic industrialization pipelines processing facilities and LNG regasification plants and the like A Template for the Future Regardless of whether they re onshore or offshore the Namibian discoveries aren t just important they re transformational ReconAfrica s huge conventional oil play is already providing well paying jobs to 200 people from the Kavango region where 40 of the people live in generational poverty and local hiring is expected to continue as the project advances The company has also made it a priority to provide clean water to the region they ve drilled four water wells and have permits for 16 more And as we ve seen time and time again in the energy business success breeds success In this case Namibia shares the same geological sedimentary basin with South Africa and Shell TotalEnergies PetroSA Sezigyn and Impact Africa all hold exploration acreage in the South African sector South Africa needs to move with a petroleum legislation immediately and ensure stability so more investment can come into the country The hydrocarbon potential of the region is tremendous suggesting the economic potential is as well as long as development is allowed to continue
    African Upstream Activity Trending Higher in 2023: What’s Driving the Increase? (By NJ Ayuk)
    Africa2 months ago

    African Upstream Activity Trending Higher in 2023: What’s Driving the Increase? (By NJ Ayuk)

    By NJ Ayuk, Executive Chairman, African Energy Chamber (http://www.EnergyChamber.org) When TotalEnergies and Shell separately announced “significant” discoveries of what appears to be commercial quantities of oil and gas offshore Namibia — possibly more than 4 billion barrels of oil in total — it signaled something new for the nation: a chance to monetize its natural resources to combat energy poverty and accelerate economic growth.

    The offshore deposits — the nation’s largest find since independence — are at peak likely to provide Windhoek an estimated $5.6 billion annually in royalties and taxes and should help the nation double its $11 billion economy by 2040. 

    The find also demonstrated how well African oil and gas development activity is faring despite repeated efforts to tamp it down.

    With activist investors trying to stem the flow of international funds into African fossil fuel projects, and major oil companies under pressure to rebalance their portfolios by adding lower emission assets, the Namibia experience is impressive on several counts.

    The pragmatism of Namibian officials has been encouraging to investors and we hope that pragmatism stays.

    It’s also likely a harbinger of things to come for Africa’s upstream energy sector, according to the African Energy Chamber’s (AEC’s) report, “The State of African Energy: 2023 Outlook,” now available here (http://bit.ly/3NbQLtD).

    The report says investment in African upstream activities (defined as exploration, production, and development) will wrap up 2022 at about $33 billion, then grow as much as $15 billion more over the period 2023-2025 compared to year-end 2021 estimates.

    In addition to Namibia, greenfield spending — that is, foreign direct investment in new projects — is being driven by Mauritania, Senegal, Uganda, Congo, Mozambique, Ghana, Angola, and Cote d’Ivoire.

    In 2022, exploration alone was up 130% over 2021.

    Deep Pockets The twin discoveries by TotalEnergies and Shell came three weeks apart, but there are no overnight successes in oil and gas.

    Exploration by one company or another has been taking place in Namibia for more than 30 years, and first production from the giant find isn’t expected until 2028.

    Still, while this is the largest discovery to date, it’s just the latest in a series of new opportunities that include a high-impact onshore exploration program by Canadian oil company ReconAfrica (the basin is the size of Texas, and some are saying it could shape up to be the last great onshore oil discovery in the world) and developments by Atlantic Oil & Gas and Global Petroleum — projects the 2023 Outlook describes in some detail.

    Could there be better proof that the world isn’t ready to abandon fossil fuels, especially given the push and pull of market conditions and the fact that renewables, while desirable, aren’t ready to replace hydrocarbons quite yet?

     And could there be more evidence that the “last frontier” fields onshore and offshore Africa are considered a fruitful alternative to the world’s legacy basins whose productivity is waning?

    True, COP26 and its international fossil fuel finance bans took the wind out of certain sails.

    Lack of investment has delayed some projects and suspended others during the last year.

    But even climate agreements haven’t kept the United States International Development Finance Corporation (DFC), one of the primary funders of all types of overseas energy projects, from plowing far more support into African oil and gas development than into renewables.

    The Guardian recently reported that DFC and Exim — the Export-Import Bank of the United States — have invested more than $9 billion in hydrocarbons compared to just $682 million in wind and solar, Together, they have bankrolled oil facilities in Senegal and Equatorial Guinea and invested in an Egyptian gas pipeline.

    And in 2019, Exim agreed to provide a $4.7 billion loan to finance a project in northern Mozambique overseen by TotalEnergies.

    The truth, plain and simple, is that the world needs more energy.

    And Africa needs it even more than most.

    Powering Progress Africa is ripe for increased energy development, hydrocarbons, and renewables alike, especially as the continent undergoes dramatic demographic shifts, chiefly staggering population growth, sustained urbanization, and greater industrialization.

    Consider this: In 1950, less than 10% of the world’s population lived in Africa, but by 2050, that figure will be closer to 25%.

    Between now and then — less than 30 years — the populations of more than half of Africa’s nations are expected to double.

    In real numbers.

    This means Africa will be home to 2.5 billion people by 2050, and its urban areas alone will have added 950 million people.

    In fact, Africa’s cities are the fastest growing on the planet.

    Generally speaking, that’s good news.

    City life is associated with better economic outcomes for individuals as well as higher standards of living: greater access to education, jobs, services, infrastructure, and electricity.

    Progress in cities far outpaces rural areas by just about every metric.

    Of course, it takes a lot of energy (and money) to power progress.

    Experts say energy demand in Africa is expected to be 30% higher over the next two decades (by contrast, global demand will only grow 10%), meaning it will easily outstrip supply.

    And although Africa has about 60% of the world’s best solar resources, its 1% installed solar capacity isn’t likely to keep many lights on or factories running.

    No wonder we’re seeing the kind of uptick we are in upstream activity. 

    Sub-Saharan Opportunity While oil is still in play, much of the focus has pivoted to natural gas, which is considered a cleaner, even “green” fuel, even by the most ardent hydrocarbon proponents.

    Today, analysts believe that countries with significant gas production could expect their gas reserves to be more resilient under various energy transition scenarios than their oil reserves.

    What does that mean for Africa?

    As discussed during African Energy Week in Cape Town, the 2023 Outlook notes that the continent holds more gas potential in the medium term than oil; more than 700 trillion cubic feet (tcf) of natural gas resources have been discovered in Africa but are yet to be approved for development.

    Many of these discoveries are planned to be developed as liquified natural gas (LNG) projects.

    In fact, most of the gas projects sanctioned in Africa are related to supplying LNG either within Africa or to markets like China and Europe, which is diversifying away from Russian gas.

    With the exception of developments in Libya, the LNG projects are largely in sub-Saharan Africa.

    As such, this is where CAPEX spending is centered.

    The AEC report estimates that 80% of the 2022 – 2025 cumulative greenfield spending from Africa is expected to come from sub-Saharan projects.

    While some decry those investments because they generate energy for export outside the continent, government officials say their economies — and, therefore, their citizens — depend on resource wealth.

     And intraregional trade within Africa is destined to grow, especially as investment increases in gas infrastructure required to support domestic industrialization — pipelines, processing facilities, and LNG regasification plants, and the like.

    A Template for the Future?

    Regardless of whether they’re onshore or offshore, the Namibian discoveries aren’t just important — they’re transformational.

    ReconAfrica’s huge, conventional oil play is already providing well-paying jobs to 200 people from the Kavango region, where 40% of the people live in generational poverty, and local hiring is expected to continue as the project advances.

    The company has also made it a priority to provide clean water to the region; they’ve drilled four water wells and have permits for 16 more.

    And, as we’ve seen time and time again, in the energy business, success breeds success.

    In this case, Namibia shares the same geological sedimentary basin with South Africa — and Shell, TotalEnergies, PetroSA, Sezigyn, and Impact Africa all hold exploration acreage in the South African sector.

    South Africa needs to move with a petroleum legislation immediately and ensure stability so more investment can come into the country.

    The hydrocarbon potential of the region is tremendous, suggesting the economic potential is as well — as long as development is allowed to continue.

  •   With over 600 million people currently lacking access to electricity and 900 million people without access to clean cooking solutions coupled with the fact that Africa as a continent faces the worst effects of the climate crisis there has never been a more pressing time to invest in Angolan oil and gas For its part the country s resources hold the key for widespread electrification climate mitigation and sustainable economic growth and with accelerated investment in these resources not only Angola but Africa has the potential to both develop and thrive as an economy It is within this context that the Angola Oil amp Gas AOG conference and exhibition emerges Scheduled to take place in Luanda from November 29 to December 1 the third edition of the event will see AOG 2022 emerging as not only the biggest energy conference in the country but the biggest to take place in Africa post COP27 Its significance therefore cannot be understated and at a time when urgent investment is needed in Angola the event is set to lay the foundation for robust discussions lucrative deals and new capital commitments that will transform Angola s energy landscape for the better Building on the theme of Promoting an Inclusive Attractive and Innovative Oil and Gas Industry in Angola AOG 2022 will awaken new opportunities for partnerships and dialogue thereby making a strong case for Angolan investment while setting the tone for other energy related discussions across other African events in 2022 and beyond Its role as a forum comes not only from its position as the country s premier energy event but as the first and biggest energy conference taking place post COP27 Taking place merely a week after COP27 concludes AOG 2022 represents the platform of choice for policymakers energy leaders and public and private sector executives to discuss the impacts of decisions made during the climate summit With this year s summit placing more emphasis on the role fossil fuels play in the world s energy future and African representatives delivering a strong argument for the development of these resources for the good of Africa AOG 2022 will build on while strengthening this narrative placing oil and gas investment and development at the center of all discussions Why Angola To date Angola s proven oil reserves stand at 8 5 billion barrels of oil while its proven natural gas reserves stand at 11 trillion cubic feet and while significant progress has been made to develop these resources much more needs to be done from both an investment and participatory standpoint With the aim of unlocking the true potential of the country s oil and gas sector the Government of Angola through the national oil company Sonangol and the national regulator the National Agency for Oil Gas and Biofuels ANPG has introduced a six year licensing round in 2019 offering 50 up for exploration in the hopes of accelerating upstream activities implemented a series of structural and policy reforms to reawaken new investment in the already competitive market while offering new rules of engagement reductions in E amp P approval timelines and petroleum tax revisions to secure the participation of a range of international companies Under the leadership of both the President Jo o Louren o and the Minister of Mineral Resources Oil and Gas Diamantino Azevedo the country continues to witness unprecedented growth across the entire energy value chain owing largely to the efforts undertaken by the minister and president to establish both and enabling an increasingly competitive environment for investment NJ Ayuk the Executive Chairman of the AEC Now in 2022 the country has emerged as the destination of choice for project developers and financiers and leveraging the significant untapped resources available Angola is set to awaken a new era of investment and development all thanks to President Louren o and Minister Azevedo s strong development drive Concluded Ayuk Building on the reforms implemented AOG 2022 will provide insight into the country s regulatory and legal landscape paving the way for heightened collaboration between local and global stakeholders while unlocking new levels of investment across the entire energy value chain In partnership with the Ministry of Mineral Resources and Petroleum and the African Energy Chamber the event welcomes the participation of a suite of local regional and international stakeholders As the country s official gathering for energy stakeholders and the biggest energy event on the continent post COP27 AOG 2022 represents a not to be missed energy event Secure your participation at AOG 2022 and be part of the conversation on Angola s energy future For more information visit http bit ly 3UyBCpP
    Angola to Host Energy Investors with the Largest Event in Africa Post-Conference of Parties (COP27)
      With over 600 million people currently lacking access to electricity and 900 million people without access to clean cooking solutions coupled with the fact that Africa as a continent faces the worst effects of the climate crisis there has never been a more pressing time to invest in Angolan oil and gas For its part the country s resources hold the key for widespread electrification climate mitigation and sustainable economic growth and with accelerated investment in these resources not only Angola but Africa has the potential to both develop and thrive as an economy It is within this context that the Angola Oil amp Gas AOG conference and exhibition emerges Scheduled to take place in Luanda from November 29 to December 1 the third edition of the event will see AOG 2022 emerging as not only the biggest energy conference in the country but the biggest to take place in Africa post COP27 Its significance therefore cannot be understated and at a time when urgent investment is needed in Angola the event is set to lay the foundation for robust discussions lucrative deals and new capital commitments that will transform Angola s energy landscape for the better Building on the theme of Promoting an Inclusive Attractive and Innovative Oil and Gas Industry in Angola AOG 2022 will awaken new opportunities for partnerships and dialogue thereby making a strong case for Angolan investment while setting the tone for other energy related discussions across other African events in 2022 and beyond Its role as a forum comes not only from its position as the country s premier energy event but as the first and biggest energy conference taking place post COP27 Taking place merely a week after COP27 concludes AOG 2022 represents the platform of choice for policymakers energy leaders and public and private sector executives to discuss the impacts of decisions made during the climate summit With this year s summit placing more emphasis on the role fossil fuels play in the world s energy future and African representatives delivering a strong argument for the development of these resources for the good of Africa AOG 2022 will build on while strengthening this narrative placing oil and gas investment and development at the center of all discussions Why Angola To date Angola s proven oil reserves stand at 8 5 billion barrels of oil while its proven natural gas reserves stand at 11 trillion cubic feet and while significant progress has been made to develop these resources much more needs to be done from both an investment and participatory standpoint With the aim of unlocking the true potential of the country s oil and gas sector the Government of Angola through the national oil company Sonangol and the national regulator the National Agency for Oil Gas and Biofuels ANPG has introduced a six year licensing round in 2019 offering 50 up for exploration in the hopes of accelerating upstream activities implemented a series of structural and policy reforms to reawaken new investment in the already competitive market while offering new rules of engagement reductions in E amp P approval timelines and petroleum tax revisions to secure the participation of a range of international companies Under the leadership of both the President Jo o Louren o and the Minister of Mineral Resources Oil and Gas Diamantino Azevedo the country continues to witness unprecedented growth across the entire energy value chain owing largely to the efforts undertaken by the minister and president to establish both and enabling an increasingly competitive environment for investment NJ Ayuk the Executive Chairman of the AEC Now in 2022 the country has emerged as the destination of choice for project developers and financiers and leveraging the significant untapped resources available Angola is set to awaken a new era of investment and development all thanks to President Louren o and Minister Azevedo s strong development drive Concluded Ayuk Building on the reforms implemented AOG 2022 will provide insight into the country s regulatory and legal landscape paving the way for heightened collaboration between local and global stakeholders while unlocking new levels of investment across the entire energy value chain In partnership with the Ministry of Mineral Resources and Petroleum and the African Energy Chamber the event welcomes the participation of a suite of local regional and international stakeholders As the country s official gathering for energy stakeholders and the biggest energy event on the continent post COP27 AOG 2022 represents a not to be missed energy event Secure your participation at AOG 2022 and be part of the conversation on Angola s energy future For more information visit http bit ly 3UyBCpP
    Angola to Host Energy Investors with the Largest Event in Africa Post-Conference of Parties (COP27)
    Africa2 months ago

    Angola to Host Energy Investors with the Largest Event in Africa Post-Conference of Parties (COP27)

    With over 600 million people currently lacking access to electricity and 900 million people without access to clean cooking solutions, coupled with the fact that Africa as a continent faces the worst effects of the climate crisis, there has never been a more pressing time to invest in Angolan oil and gas.

    For its part, the country’s resources hold the key for widespread electrification, climate mitigation and sustainable economic growth, and with accelerated investment in these resources, not only Angola but Africa has the potential to both develop and thrive as an economy.

    It is within this context that the Angola Oil & Gas (AOG) conference and exhibition emerges.

    Scheduled to take place in Luanda from November 29 to December 1, the third edition of the event will see AOG 2022 emerging as not only the biggest energy conference in the country but the biggest to take place in Africa post-COP27.

    Its significance, therefore, cannot be understated, and at a time when urgent investment is needed in Angola, the event is set to lay the foundation for robust discussions, lucrative deals and new capital commitments that will transform Angola’s energy landscape for the better. 

    Building on the theme of ‘Promoting an Inclusive, Attractive and Innovative Oil and Gas Industry in Angola,’ AOG 2022 will awaken new opportunities for partnerships and dialogue, thereby making a strong case for Angolan investment while setting the tone for other energy-related discussions across other African events in 2022 and beyond.

    Its role as a forum comes not only from its position as the country’s premier energy event but as the first and biggest energy conference taking place post-COP27.

    Taking place merely a week after COP27 concludes, AOG 2022 represents the platform of choice for policymakers, energy leaders and public and private sector executives to discuss the impacts of decisions made during the climate summit.

    With this year’s summit placing more emphasis on the role fossil fuels play in the world’s energy future, and African representatives delivering a strong argument for the development of these resources for the good of Africa, AOG 2022 will build on while strengthening this narrative, placing oil and gas investment and development at the center of all discussions.

    Why Angola?

    To date, Angola’s proven oil reserves stand at 8.5 billion barrels of oil while its proven natural gas reserves stand at 11 trillion cubic feet, and while significant progress has been made to develop these resources, much more needs to be done from both an investment and participatory standpoint.

    With the aim of unlocking the true potential of the country’s oil and gas sector, the Government of Angola, through the national oil company Sonangol and the national regulator, the National Agency for Oil, Gas and Biofuels (ANPG), has introduced a six-year licensing round in 2019, offering 50 up for exploration in the hopes of accelerating upstream activities; implemented a series of structural and policy reforms to reawaken new investment in the already competitive market; while offering new rules of engagement, reductions in E&P approval timelines and petroleum tax revisions to secure the participation of a range of international companies.

    “Under the leadership of both the President, João Lourenço, and the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, the country continues to witness unprecedented growth across the entire energy value chain, owing largely to the efforts undertaken by the minister and president to establish both and enabling an increasingly competitive environment for investment.” NJ Ayuk, the Executive Chairman of the AEC “Now, in 2022, the country has emerged as the destination of choice for project developers and financiers, and leveraging the significant untapped resources available, Angola is set to awaken a new era of investment and development, all thanks to President Lourenço and Minister Azevedo’s strong development drive.” Concluded Ayuk Building on the reforms implemented, AOG 2022 will provide insight into the country’s regulatory and legal landscape, paving the way for heightened collaboration between local and global stakeholders while unlocking new levels of investment across the entire energy value chain.

    In partnership with the Ministry of Mineral Resources and Petroleum and the African Energy Chamber, the event welcomes the participation of a suite of local, regional and international stakeholders.

    As the country’s official gathering for energy stakeholders and the biggest energy event on the continent post-COP27, AOG 2022 represents a not-to-be-missed energy event.

    Secure your participation at AOG 2022 and be part of the conversation on Angola’s energy future.

    For more information, visit http://bit.ly/3UyBCpP

  •   UTM Offshore will sign an agreement for the Front End Engineering Design FEED for Nigeria s first Floating Liquefied Natural Gas FLNG facility with engineering firms KBR JGC Corporation and Technip Energies on November 16 in London Having signed an agreement to co finance the development with the African Export Import Bank earlier on UTM Offshore s signing of the FEED will move the development of the massive FLNG project from the fundraising stage to the implementation phase with parties involved including NNPC Limited and ExxonMobil in the OML 104 block development seeking to fast track the development exploitation and monetization of stranded gas resources to ensure energy security access to energy and clean cooking and industrialization in Nigeria across the region and abroad The African Energy Chamber AEC as the voice of the African energy sector strongly supports the development and commends UTM Offshore and its partners for the milestone With factors such as the Russian Ukraine war increases in energy demand and global energy transition related policies fueling the energy crisis at global scale the AEC strongly believes African gas has a huge role to play in liberating global economies and the global energy market UTM Offshore CEO Julius Rone has been a true champion of gas in Nigeria and Africa His resilience patience and outside the box thinking with a savviness to bring so many world class companies and service providers to this project is extraordinary We commend Afreximbank s President Oramah for making this project a reality stated NJ Ayuk the Executive Chairman of the AEC stating that UTM Offshore s signing of the deal will be a game changer within Africa s gas market The penetration of FNLG in Africa which started in Cameroon and expanded to Angola and Mozambique and now to Senegal Mauritania and Nigeria highlights Africa s commitment to unlocking the full exploitation of its gas resources We believe UTM Offshore s FLNG project development will not only open doors for energy security and GDP growth but will bring in world class technical know how among the local people while creating long term employment opportunities in line with Nigeria s local content laws With first production from the 1 8 million FLNG facility anticipated before 2027 UTM Offshore s FLNG project will unlock a new era of LNG industry growth in Nigeria and across the region as the demand for energy continues to increase Moreover as Europe seeks alternative gas suppliers as the bloc diversifies energy supplies away from Russia over the war in Ukraine Nigeria with its vast gas reserves estimated to be above 270 trillion cubic feet Tcf is well positioned to expand its supply to Europe and UTM s FLNG facility will be an enabler of industry expansion and Nigeria s best practice to address some of critical gas industry challenges including cost environmental sustainability political risk and infrastructure development timeframes ExxonMobil and NNPC as feed gas suppliers UTM Offshore as the LNG producer and Vitol as the LNG buyer will leverage the FLNG facility to exploit 2 2 Tcf of proven gas reserves within OML IO4 over a period of 20 years a development that will maximize Nigeria s gas monetization for economic and gross domestic product growth We are now starting to see the positive impacts of Nigeria s Petroleum Industry Act which President Buhari and Timipre Sylva Nigeria s Minister of Petroleum implemented to create an enabling environment for more investments and players to flow into the country Projects like this indicate that Nigeria is investable and that if African companies are given an opportunity in an enabling environment they can create success We hope to see Nigeria and UTM Offshore s model replicated across Africa to unlock the massive gas resources that are stuck for energy independence affordability and reliability Ayuk states
    UTM Offshore to Set a Natural Gas Milestone with Nigeria’s First Floating Liquefied Natural Gas (FLNG) Facility
      UTM Offshore will sign an agreement for the Front End Engineering Design FEED for Nigeria s first Floating Liquefied Natural Gas FLNG facility with engineering firms KBR JGC Corporation and Technip Energies on November 16 in London Having signed an agreement to co finance the development with the African Export Import Bank earlier on UTM Offshore s signing of the FEED will move the development of the massive FLNG project from the fundraising stage to the implementation phase with parties involved including NNPC Limited and ExxonMobil in the OML 104 block development seeking to fast track the development exploitation and monetization of stranded gas resources to ensure energy security access to energy and clean cooking and industrialization in Nigeria across the region and abroad The African Energy Chamber AEC as the voice of the African energy sector strongly supports the development and commends UTM Offshore and its partners for the milestone With factors such as the Russian Ukraine war increases in energy demand and global energy transition related policies fueling the energy crisis at global scale the AEC strongly believes African gas has a huge role to play in liberating global economies and the global energy market UTM Offshore CEO Julius Rone has been a true champion of gas in Nigeria and Africa His resilience patience and outside the box thinking with a savviness to bring so many world class companies and service providers to this project is extraordinary We commend Afreximbank s President Oramah for making this project a reality stated NJ Ayuk the Executive Chairman of the AEC stating that UTM Offshore s signing of the deal will be a game changer within Africa s gas market The penetration of FNLG in Africa which started in Cameroon and expanded to Angola and Mozambique and now to Senegal Mauritania and Nigeria highlights Africa s commitment to unlocking the full exploitation of its gas resources We believe UTM Offshore s FLNG project development will not only open doors for energy security and GDP growth but will bring in world class technical know how among the local people while creating long term employment opportunities in line with Nigeria s local content laws With first production from the 1 8 million FLNG facility anticipated before 2027 UTM Offshore s FLNG project will unlock a new era of LNG industry growth in Nigeria and across the region as the demand for energy continues to increase Moreover as Europe seeks alternative gas suppliers as the bloc diversifies energy supplies away from Russia over the war in Ukraine Nigeria with its vast gas reserves estimated to be above 270 trillion cubic feet Tcf is well positioned to expand its supply to Europe and UTM s FLNG facility will be an enabler of industry expansion and Nigeria s best practice to address some of critical gas industry challenges including cost environmental sustainability political risk and infrastructure development timeframes ExxonMobil and NNPC as feed gas suppliers UTM Offshore as the LNG producer and Vitol as the LNG buyer will leverage the FLNG facility to exploit 2 2 Tcf of proven gas reserves within OML IO4 over a period of 20 years a development that will maximize Nigeria s gas monetization for economic and gross domestic product growth We are now starting to see the positive impacts of Nigeria s Petroleum Industry Act which President Buhari and Timipre Sylva Nigeria s Minister of Petroleum implemented to create an enabling environment for more investments and players to flow into the country Projects like this indicate that Nigeria is investable and that if African companies are given an opportunity in an enabling environment they can create success We hope to see Nigeria and UTM Offshore s model replicated across Africa to unlock the massive gas resources that are stuck for energy independence affordability and reliability Ayuk states
    UTM Offshore to Set a Natural Gas Milestone with Nigeria’s First Floating Liquefied Natural Gas (FLNG) Facility
    Africa3 months ago

    UTM Offshore to Set a Natural Gas Milestone with Nigeria’s First Floating Liquefied Natural Gas (FLNG) Facility

    UTM Offshore will sign an agreement for the Front-End Engineering Design (FEED) for Nigeria’s first Floating Liquefied Natural Gas (FLNG) facility with engineering firms KBR, JGC Corporation and Technip Energies on November 16 in London.

    Having signed an agreement to co-finance the development with the African Export-Import Bank earlier on, UTM Offshore’s signing of the FEED will move the development of the massive FLNG project from the fundraising stage to the implementation phase with parties involved, including NNPC Limited and ExxonMobil, in the OML 104 block development seeking to fast track the development, exploitation and monetization of stranded gas resources to ensure energy security, access to energy and clean cooking and industrialization in Nigeria, across the region and abroad.

    The African Energy Chamber (AEC), as the voice of the African energy sector, strongly supports the development and commends UTM Offshore and its partners for the milestone.

    With factors such as the Russian-Ukraine war, increases in energy demand and global energy transition-related policies fueling the energy crisis at global scale, the AEC strongly believes African gas has a huge role to play in liberating global economies and the global energy market.

    “UTM Offshore CEO, Julius Rone has been a true champion of gas in Nigeria and Africa.

    His resilience, patience and outside the box thinking with a savviness to bring so many world-class companies and service providers to this project is extraordinary.

    We commend Afreximbank’s President Oramah for making this project a reality,” stated NJ Ayuk, the Executive Chairman of the AEC, stating that “UTM Offshore’s signing of the deal will be a game changer within Africa’s gas market.

    The penetration of FNLG in Africa, which started in Cameroon and expanded to Angola and Mozambique and now to Senegal, Mauritania and Nigeria, highlights Africa’s commitment to unlocking the full exploitation of its gas resources.

    We believe UTM Offshore’s FLNG project development will not only open doors for energy security and GDP growth but will bring in world class technical know-how among the local people while creating long-term employment opportunities in line with Nigeria’s local content laws.” With first production from the $1.8 million FLNG facility anticipated before 2027, UTM Offshore’s FLNG project will unlock a new era of LNG industry growth in Nigeria and across the region as the demand for energy continues to increase.

    Moreover, as Europe seeks alternative gas suppliers as the bloc diversifies energy supplies away from Russia over the war in Ukraine, Nigeria – with its vast gas reserves estimated to be above 270 trillion cubic feet (Tcf) – is well positioned to expand its supply to Europe and UTM’s FLNG facility will be an enabler of industry expansion and Nigeria’s best practice to address some of critical gas industry challenges including cost, environmental sustainability, political risk and infrastructure development timeframes.

    ExxonMobil and NNPC as feed gas suppliers, UTM Offshore as the LNG producer and Vitol as the LNG buyer, will leverage the FLNG facility to exploit 2.2 Tcf of proven gas reserves within OML IO4 over a period of 20 years, a development that will maximize Nigeria’s gas monetization for economic and gross domestic product growth.

    “We are now starting to see the positive impacts of Nigeria’s Petroleum Industry Act which President Buhari and Timipre Sylva.

    Nigeria’s Minister of Petroleum implemented to create an enabling environment for more investments and players to flow into the country.

    Projects like this indicate that Nigeria is investable and that if African companies are given an opportunity in an enabling environment, they can create success.

    We hope to see Nigeria and UTM Offshore’s model replicated across Africa to unlock the massive gas resources that are stuck for energy independence, affordability and reliability,” Ayuk states.

  •   The African Energy Chamber AEC the voice of the African energy sector is proud to announce that African Energy Week AEW https AECWeek com Africa s premier event for oil and gas sector will return in 2023 from October 16 20 to drive Africa s energy sector growth and make energy poverty history across the continent by 2030 Following a successful 2022 edition AEW 2023 the official place where Africa s entire hydrocarbon ecosystem will be discussed and optimized will build on the discussions held deals signed partnerships formed and relationships cemented in 2022 to maximize energy investments across the continent s entire energy base whilst paving way for free markets and increased private sector participation in energy sector expansion By uniting African Presidents Ministers public and private sector representatives energy companies and investors as well as global partners AEW 2023 is the official meeting place for the continent s energy market players to meet inspire each other and continue to create an enabling environment to maximize energy investments for a secure energy future We will sign more deals this year Investments in fossil fuels including in oil and gas by developed countries including G20 members have increased by 16 to 693 billion in 2021 penetration in Africa has been and continues to be restrained by energy transition related policies implemented by some of these countries yet the continent is heavily suffering chronic energy shortages and high fuel prices In this regard AEW 2023 will promote Africa as a global energy investment destination and address the consistent under investment and difficult financial conditions across the African market AEW 2023 aims to ensure Africa reduces its over reliance on external funding and energy imports while meeting its growing energy needs leveraging local resources AEW 2023 will make a strong case on the role Africa s hydrocarbon resources play in boosting energy access and driving socioeconomic developments across the continent Through high level panel discussions networking forums technical workshops one one meetings projects technology and partnership launches and more AEW 2023 will explore business deals and policy necessities for Africa maximize the exploitation development and monetization of its oil and gas resources for energy mix diversification employment creation industrialization and energy security The Chamber is proud to host AEW 2023 in partnership with industry players and government representatives as part of our efforts to continue to fight for Africa s energy independence and security With the number of people living in energy poverty in Africa continuing to increase we believe Africa has and needs to exploit its entire energy base including oil gas hydropower and renewables to drift itself away from poverty and under development states NJ Ayuk Executive Chairman of the AEC AEW 2023 is the AEC s annual conference exhibition and networking event AEW 2023 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments
    African Energy Week Announces 2023 Dates – Road to Cape Town
      The African Energy Chamber AEC the voice of the African energy sector is proud to announce that African Energy Week AEW https AECWeek com Africa s premier event for oil and gas sector will return in 2023 from October 16 20 to drive Africa s energy sector growth and make energy poverty history across the continent by 2030 Following a successful 2022 edition AEW 2023 the official place where Africa s entire hydrocarbon ecosystem will be discussed and optimized will build on the discussions held deals signed partnerships formed and relationships cemented in 2022 to maximize energy investments across the continent s entire energy base whilst paving way for free markets and increased private sector participation in energy sector expansion By uniting African Presidents Ministers public and private sector representatives energy companies and investors as well as global partners AEW 2023 is the official meeting place for the continent s energy market players to meet inspire each other and continue to create an enabling environment to maximize energy investments for a secure energy future We will sign more deals this year Investments in fossil fuels including in oil and gas by developed countries including G20 members have increased by 16 to 693 billion in 2021 penetration in Africa has been and continues to be restrained by energy transition related policies implemented by some of these countries yet the continent is heavily suffering chronic energy shortages and high fuel prices In this regard AEW 2023 will promote Africa as a global energy investment destination and address the consistent under investment and difficult financial conditions across the African market AEW 2023 aims to ensure Africa reduces its over reliance on external funding and energy imports while meeting its growing energy needs leveraging local resources AEW 2023 will make a strong case on the role Africa s hydrocarbon resources play in boosting energy access and driving socioeconomic developments across the continent Through high level panel discussions networking forums technical workshops one one meetings projects technology and partnership launches and more AEW 2023 will explore business deals and policy necessities for Africa maximize the exploitation development and monetization of its oil and gas resources for energy mix diversification employment creation industrialization and energy security The Chamber is proud to host AEW 2023 in partnership with industry players and government representatives as part of our efforts to continue to fight for Africa s energy independence and security With the number of people living in energy poverty in Africa continuing to increase we believe Africa has and needs to exploit its entire energy base including oil gas hydropower and renewables to drift itself away from poverty and under development states NJ Ayuk Executive Chairman of the AEC AEW 2023 is the AEC s annual conference exhibition and networking event AEW 2023 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments
    African Energy Week Announces 2023 Dates – Road to Cape Town
    Africa3 months ago

    African Energy Week Announces 2023 Dates – Road to Cape Town

    The African Energy Chamber (AEC) – the voice of the African energy sector – is proud to announce that African Energy Week (AEW) (https://AECWeek.com/) – Africa’s premier event for oil and gas sector – will return in 2023 from October 16 – 20 to drive Africa’s energy sector growth and make energy poverty history across the continent by 2030.

    Following a successful 2022 edition, AEW 2023 – the official place where Africa’s entire hydrocarbon ecosystem will be discussed and optimized - will build on the discussions held, deals signed, partnerships formed, and relationships cemented in 2022 to maximize energy investments across the continent’s entire energy base whilst paving way for free markets and increased private sector participation in energy sector expansion.

    By uniting African Presidents, Ministers, public and private sector representatives, energy companies and investors as well as global partners, AEW 2023 is the official meeting place for the continent’s energy market players to meet, inspire each other and continue to create an enabling environment to maximize energy investments for a secure energy future.

    We will sign more deals this year.

    Investments in fossil fuels including in oil and gas by developed countries including G20 members have increased by 16% to $693 billion in 2021, penetration in Africa has been and continues to be restrained by energy transition-related policies implemented by some of these countries, yet the continent is heavily suffering chronic energy shortages and high fuel prices.

    In this regard, AEW 2023 will promote Africa as a global energy investment destination and address the consistent under-investment and difficult financial conditions across the African market.

    AEW 2023 aims to ensure Africa reduces its over-reliance on external funding and energy imports while meeting its growing energy needs leveraging local resources.

    AEW 2023 will make a strong case on the role Africa’s hydrocarbon resources play in boosting energy access and driving socioeconomic developments across the continent.

    Through high-level panel discussions, networking forums, technical workshops, one-one meetings, projects, technology and partnership launches, and more, AEW 2023 will explore business, deals and policy necessities for Africa maximize the exploitation, development and monetization of its oil and gas resources for energy mix diversification, employment creation, industrialization and energy security.

    “The Chamber is proud to host AEW 2023 in partnership with industry players and government representatives as part of our efforts to continue to fight for Africa’s energy independence and security.

    With the number of people living in energy poverty in Africa continuing to increase, we believe Africa has and needs to exploit its entire energy base including oil, gas, hydropower and renewables to drift itself away from poverty and under development,” states NJ Ayuk, Executive Chairman of the AEC.

    AEW 2023 is the AEC’s annual conference, exhibition and networking event.

    AEW 2023 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments.

  •   Moneda https MonedaInvest com is proud to be part of an elite list of companies that bring African solutions to African problems By working with partners like the African Chamber of Energy markets can be sure there is more to come said Ejike Egbuagu This year s Africa Energy Week where Moneda Invest was featured as a platinum sponsor for African content was held at the V A Waterfront South Africa and has just concluded with an agreement signed between Moneda Invest Africa and the Company National Petroleum of Namibia Namcor The two major energy investment organizations agreed to this partnership to exchange experiences and accelerate knowledge sharing and skills development while exposing the Namibian oil and gas industry to massive investment and it was signed in the presence of NJ Ayuk CEO of the African Chamber of Energy AEC Currency Invest Africa is a Nigerian financial institution with deep experience in local content and developing and financing competitive markets in Africa with a arguably unmatched portfolio working with major energy giants such as TotalEnergies Shell Chevron and Nigerian Petroleum Development Company Limited and will in this association provide at least 10 local companies selected by Namcor access to capital with the sole objective of growing various oil and gas segments in Namibia These include petroleum product supply drilling and well services health security maritime logistics reservoir engineering onshore and offshore seismic surveys training and many others As Namibia looks to accelerate the development of its vast hydrocarbon reserves its partnership with Moneda Invest Africa is believed to be instrumental in securing the necessary financing to increase upstream midstream and downstream activities Namcor in turn will provide regulatory and administrative support to ensure a smooth operation for Moneda Invest Africa throughout the Namibian oil and gas industry The three year partnership is expected to be a boost in unlocking the full potential of the country s oil and gas industry Unquestionably the African Energy Chamber supports collaborations like this geared towards the growth of the African Energy Industry and we at Coin Invest Africa strongly believe that this partnership is just the beginning of a complete evolution of the continent s energy industry and we look forward to signing more agreements in the future that will position Africa as the leading continent in energy industry innovations
    Africa Energy Week 2022 ends on a progressive note with a partnership between Nigerian Energy Accelerator, Moneda Invest Africa and National Oil Company of Namibia [Namcor] on Local Content Development and Energy Financing
      Moneda https MonedaInvest com is proud to be part of an elite list of companies that bring African solutions to African problems By working with partners like the African Chamber of Energy markets can be sure there is more to come said Ejike Egbuagu This year s Africa Energy Week where Moneda Invest was featured as a platinum sponsor for African content was held at the V A Waterfront South Africa and has just concluded with an agreement signed between Moneda Invest Africa and the Company National Petroleum of Namibia Namcor The two major energy investment organizations agreed to this partnership to exchange experiences and accelerate knowledge sharing and skills development while exposing the Namibian oil and gas industry to massive investment and it was signed in the presence of NJ Ayuk CEO of the African Chamber of Energy AEC Currency Invest Africa is a Nigerian financial institution with deep experience in local content and developing and financing competitive markets in Africa with a arguably unmatched portfolio working with major energy giants such as TotalEnergies Shell Chevron and Nigerian Petroleum Development Company Limited and will in this association provide at least 10 local companies selected by Namcor access to capital with the sole objective of growing various oil and gas segments in Namibia These include petroleum product supply drilling and well services health security maritime logistics reservoir engineering onshore and offshore seismic surveys training and many others As Namibia looks to accelerate the development of its vast hydrocarbon reserves its partnership with Moneda Invest Africa is believed to be instrumental in securing the necessary financing to increase upstream midstream and downstream activities Namcor in turn will provide regulatory and administrative support to ensure a smooth operation for Moneda Invest Africa throughout the Namibian oil and gas industry The three year partnership is expected to be a boost in unlocking the full potential of the country s oil and gas industry Unquestionably the African Energy Chamber supports collaborations like this geared towards the growth of the African Energy Industry and we at Coin Invest Africa strongly believe that this partnership is just the beginning of a complete evolution of the continent s energy industry and we look forward to signing more agreements in the future that will position Africa as the leading continent in energy industry innovations
    Africa Energy Week 2022 ends on a progressive note with a partnership between Nigerian Energy Accelerator, Moneda Invest Africa and National Oil Company of Namibia [Namcor] on Local Content Development and Energy Financing
    Africa3 months ago

    Africa Energy Week 2022 ends on a progressive note with a partnership between Nigerian Energy Accelerator, Moneda Invest Africa and National Oil Company of Namibia [Namcor] on Local Content Development and Energy Financing

    “Moneda (https://MonedaInvest.com/) is proud to be part of an elite list of companies that bring African solutions to African problems.

    By working with partners like the African Chamber of Energy, markets can be sure there is more to come,” said Ejike Egbuagu.

    This year's Africa Energy Week, where Moneda Invest was featured as a platinum sponsor for African content, was held at the V&A Waterfront South Africa and has just concluded with an agreement signed between Moneda Invest Africa and the Company National Petroleum of Namibia.

    [Namcor].

    The two major energy investment organizations agreed to this partnership to exchange experiences and accelerate knowledge sharing and skills development, while exposing the Namibian oil and gas industry to massive investment, and it was signed in the presence of NJ Ayuk, CEO of the African Chamber of Energy [AEC].

    Currency Invest Africa is a Nigerian financial institution with deep experience in local content and developing and financing competitive markets in Africa, with a arguably unmatched portfolio working with major energy giants such as TotalEnergies, Shell, Chevron and Nigerian Petroleum Development Company.

    Limited, and will, in this association, provide at least 10 local companies (selected by Namcor) access to capital with the sole objective of growing various oil and gas segments in Namibia.

    These include petroleum product supply, drilling and well services, health security, maritime logistics, reservoir engineering, onshore and offshore seismic surveys, training, and many others.

    As Namibia looks to accelerate the development of its vast hydrocarbon reserves, its partnership with Moneda Invest Africa is believed to be instrumental in securing the necessary financing to increase upstream, midstream and downstream activities.

    Namcor, in turn, will provide regulatory and administrative support to ensure a smooth operation for Moneda Invest Africa throughout the Namibian oil and gas industry.

    The three-year partnership is expected to be a boost in unlocking the full potential of the country's oil and gas industry.

    Unquestionably, the African Energy Chamber supports collaborations like this geared towards the growth of the African Energy Industry and we at Coin Invest Africa strongly believe that this partnership is just the beginning of a complete evolution of the continent's energy industry and we look forward to signing more agreements.

    in the future that will position Africa as the leading continent in energy industry innovations.

  •   The African Energy Chamber AEC https EnergyChamber org the voice of the African energy sector is proud to announce the launch of its latest publication The State of African Energy Outlook 2023 https bit ly 3NbQLtD a detailed report that analyzes the current emerging and future trends of the oil and gas market as well as the geopolitical procedures that shape the oil and gas sector world and african With the global oil market suffering from the combined impacts of the COVID 19 pandemic and the Russian Ukrainian war the report provides a detailed analysis of what production and monetization will look like in 2023 for both African producing countries such as Libya Angola and Nigeria and global energy companies As global oil market volatility continues the AEC report investigates what this means for African producers and the global market With the ACS projecting Nigeria to increase oil production from 1 65 million barrels per day bpd in 2022 to around 1 75 million bpd in 2023 and Libya from 1 12 million bpd in 2020 to 1 3 million bpd in 2023 while Angola will see a decline of 1 13 million bpd in 2023 million bpd in 2022 to approximately 1 1 million bpd in 2023 the report highlights the role of African energy in ensuring global energy security while exploring the challenges and opportunities facing the entire continent Meanwhile on the gas front as Western operators exit the Russian market due to the invasion of Ukraine a significant decline in global production and an increase in prices are expected As such the report looks at the impact on global trade and supply as well as exploration production and infrastructure development across the African market With gas demand in Europe anticipated to rise rapidly over the next three years and Europe seeking to replace most of the piped gas the bloc gets from Russia by harnessing liquefied natural gas LNG from other regions Africa such as the second country of the bloc gas supplier in 2021 and thanks to the huge untapped gas resources across the continent it is well positioned to become Europe s leading supplier According to the AEC report as COVID 19 subsides the conflict between Russia and Ukraine has caused and will continue to cause a rise in Brent with Africa in a prime position to increase its natural gas production and benefit from a market and a demand for insufficiently supplied LNG of Europe Due to the proximity of the main African producers to Europe and the good commercial relations existing between the two continents despite the fact that the total production in the entire continent decreased between 2022 and 2025 Africa is expected to play a key role in satisfying the world demand Meanwhile Nigeria Algeria and Egypt lead African gas production and LNG flows in the near term and the report provides a detailed perspective on LNG production monetization and developments in Africa s emerging and established markets such as Equatorial Guinea Senegal Mauritania and Mozambique With Africa seeking to attract investment to optimize the development exploitation and monetization of hydrocarbon resources including crude oil resources estimated at 125 3 billion barrels and gas reserves of 620 trillion cubic feet for security energy and economic expansion and with spending set to be shifted out of Russia and directed to other regions the report details investment trends in Africa and how trends in Russia and around the world may shape the allocation of capital for the launch of projects and energy trading throughout the continent Additionally with Africa looking to accelerate investments and exploration activities to increase its oil and gas reserves for a sustainable energy future the AEC report provides insights into drilling campaigns across the continent and how recent major discoveries such as TotalEnergies and Shell in Namibia will promote upstream activities in countries such as Mauritania Senegal Uganda Congo Mozambique Ghana Angola and Ivory Coast The study states that drilling activity in Africa will increase marginally from about 895 wells in 2022 to 915 wells in 2023 and further to just over 1 000 wells in 2025 As well as providing country specific impacts of new oil and gas economies In Africa with the continent becoming more focused on how to lift its 600 million people out of energy poverty the AEC perspective provides a detailed analysis of energy access rates while exploring various electrification initiatives including developments renewable energy and gas to power underway to boost Africa s access to electricity The Chamber is proud to publish its most recent report The State of African Energy Outlook 2023 With current trends such as the Russo Ukrainian war and global energy transition policies exposing Africa s fragile energy systems and deepening the continent s prevailing energy poverty we believe that Africa must stand on its own two feet to maximize needed investments to drive oil gas and renewable energy developments to modernize its power grid for safety and reliability We believe the report provides regional and global investors with the insights they need to harness Africa s vast energy potential said NJ Ayuk CEO of AEC Download The State of Power in Africa Outlook 2023 https bit ly 3NbQLtD
    African Energy Chamber launches ‘The State of African Energy: Perspectives to 2023’
      The African Energy Chamber AEC https EnergyChamber org the voice of the African energy sector is proud to announce the launch of its latest publication The State of African Energy Outlook 2023 https bit ly 3NbQLtD a detailed report that analyzes the current emerging and future trends of the oil and gas market as well as the geopolitical procedures that shape the oil and gas sector world and african With the global oil market suffering from the combined impacts of the COVID 19 pandemic and the Russian Ukrainian war the report provides a detailed analysis of what production and monetization will look like in 2023 for both African producing countries such as Libya Angola and Nigeria and global energy companies As global oil market volatility continues the AEC report investigates what this means for African producers and the global market With the ACS projecting Nigeria to increase oil production from 1 65 million barrels per day bpd in 2022 to around 1 75 million bpd in 2023 and Libya from 1 12 million bpd in 2020 to 1 3 million bpd in 2023 while Angola will see a decline of 1 13 million bpd in 2023 million bpd in 2022 to approximately 1 1 million bpd in 2023 the report highlights the role of African energy in ensuring global energy security while exploring the challenges and opportunities facing the entire continent Meanwhile on the gas front as Western operators exit the Russian market due to the invasion of Ukraine a significant decline in global production and an increase in prices are expected As such the report looks at the impact on global trade and supply as well as exploration production and infrastructure development across the African market With gas demand in Europe anticipated to rise rapidly over the next three years and Europe seeking to replace most of the piped gas the bloc gets from Russia by harnessing liquefied natural gas LNG from other regions Africa such as the second country of the bloc gas supplier in 2021 and thanks to the huge untapped gas resources across the continent it is well positioned to become Europe s leading supplier According to the AEC report as COVID 19 subsides the conflict between Russia and Ukraine has caused and will continue to cause a rise in Brent with Africa in a prime position to increase its natural gas production and benefit from a market and a demand for insufficiently supplied LNG of Europe Due to the proximity of the main African producers to Europe and the good commercial relations existing between the two continents despite the fact that the total production in the entire continent decreased between 2022 and 2025 Africa is expected to play a key role in satisfying the world demand Meanwhile Nigeria Algeria and Egypt lead African gas production and LNG flows in the near term and the report provides a detailed perspective on LNG production monetization and developments in Africa s emerging and established markets such as Equatorial Guinea Senegal Mauritania and Mozambique With Africa seeking to attract investment to optimize the development exploitation and monetization of hydrocarbon resources including crude oil resources estimated at 125 3 billion barrels and gas reserves of 620 trillion cubic feet for security energy and economic expansion and with spending set to be shifted out of Russia and directed to other regions the report details investment trends in Africa and how trends in Russia and around the world may shape the allocation of capital for the launch of projects and energy trading throughout the continent Additionally with Africa looking to accelerate investments and exploration activities to increase its oil and gas reserves for a sustainable energy future the AEC report provides insights into drilling campaigns across the continent and how recent major discoveries such as TotalEnergies and Shell in Namibia will promote upstream activities in countries such as Mauritania Senegal Uganda Congo Mozambique Ghana Angola and Ivory Coast The study states that drilling activity in Africa will increase marginally from about 895 wells in 2022 to 915 wells in 2023 and further to just over 1 000 wells in 2025 As well as providing country specific impacts of new oil and gas economies In Africa with the continent becoming more focused on how to lift its 600 million people out of energy poverty the AEC perspective provides a detailed analysis of energy access rates while exploring various electrification initiatives including developments renewable energy and gas to power underway to boost Africa s access to electricity The Chamber is proud to publish its most recent report The State of African Energy Outlook 2023 With current trends such as the Russo Ukrainian war and global energy transition policies exposing Africa s fragile energy systems and deepening the continent s prevailing energy poverty we believe that Africa must stand on its own two feet to maximize needed investments to drive oil gas and renewable energy developments to modernize its power grid for safety and reliability We believe the report provides regional and global investors with the insights they need to harness Africa s vast energy potential said NJ Ayuk CEO of AEC Download The State of Power in Africa Outlook 2023 https bit ly 3NbQLtD
    African Energy Chamber launches ‘The State of African Energy: Perspectives to 2023’
    Africa3 months ago

    African Energy Chamber launches ‘The State of African Energy: Perspectives to 2023’

    The African Energy Chamber (AEC) (https://EnergyChamber.org/), the voice of the African energy sector, is proud to announce the launch of its latest publication, 'The State of African Energy: Outlook 2023 ' (https:// ://bit.ly/3NbQLtD) a detailed report that analyzes the current, emerging and future trends of the oil and gas market, as well as the geopolitical procedures that shape the oil and gas sector world and african With the global oil market suffering from the combined impacts of the COVID-19 pandemic and the Russian-Ukrainian war, the report provides a detailed analysis of what production and monetization will look like in 2023 for both African producing countries such as Libya, Angola and Nigeria.

    and global energy companies.

    As global oil market volatility continues, the AEC report investigates what this means for African producers and the global market.

    With the ACS projecting Nigeria to increase oil production from 1.65 million barrels per day (bpd) in 2022 to around 1.75 million bpd in 2023 and Libya from 1.12 million bpd in 2020 to 1, 3 million bpd in 2023, while Angola will see a decline of 1.13 million bpd in 2023.

    million bpd in 2022 to approximately 1.1 million bpd in 2023, the report highlights the role of African energy in ensuring global energy security while exploring the challenges and opportunities facing the entire continent.

    Meanwhile, on the gas front, as Western operators exit the Russian market due to the invasion of Ukraine, a significant decline in global production and an increase in prices are expected.

    As such, the report looks at the impact on global trade and supply, as well as exploration, production and infrastructure development across the African market.

    With gas demand in Europe anticipated to rise rapidly over the next three years, and Europe seeking to replace most of the piped gas the bloc gets from Russia by harnessing liquefied natural gas (LNG) from other regions, Africa, such as the second country of the bloc.

    gas supplier in 2021 and thanks to the huge untapped gas resources across the continent, it is well positioned to become Europe's leading supplier.

    According to the AEC report, as COVID-19 subsides, the conflict between Russia and Ukraine has caused and will continue to cause a rise in Brent, with Africa in a prime position to increase its natural gas production and benefit from a market and a demand for insufficiently supplied LNG.

    of Europe.

    Due to the proximity of the main African producers to Europe and the good commercial relations existing between the two continents, despite the fact that the total production in the entire continent decreased between 2022 and 2025, Africa is expected to play a key role in satisfying the world demand.

    Meanwhile, Nigeria, Algeria and Egypt lead African gas production and LNG flows in the near term, and the report provides a detailed perspective on LNG production, monetization and developments in Africa's emerging and established markets.

    , such as Equatorial Guinea, Senegal/Mauritania and Mozambique.

    With Africa seeking to attract investment to optimize the development, exploitation and monetization of hydrocarbon resources, including crude oil resources estimated at 125.3 billion barrels and gas reserves of 620 trillion cubic feet for security energy and economic expansion, and with spending set to be shifted out of Russia and directed to other regions, the report details investment trends in Africa and how trends in Russia and around the world may shape the allocation of capital for the launch of projects and energy trading throughout the continent.

    Additionally, with Africa looking to accelerate investments and exploration activities to increase its oil and gas reserves for a sustainable energy future, the AEC report provides insights into drilling campaigns across the continent and how recent major discoveries such as TotalEnergies and Shell in Namibia, will promote upstream activities in countries such as Mauritania, Senegal, Uganda, Congo, Mozambique, Ghana, Angola and Ivory Coast.

    The study states that drilling activity in Africa will increase marginally from about 895 wells in 2022 to 915 wells in 2023 and further to just over 1,000 wells in 2025.

    As well as providing country-specific impacts of new oil and gas economies In Africa, with the continent becoming more focused on how to lift its 600 million people out of energy poverty, the AEC perspective provides a detailed analysis of energy access rates while exploring various electrification initiatives, including developments.

    renewable energy and gas-to-power, underway to boost Africa's access to electricity.

    “The Chamber is proud to publish its most recent report, 'The State of African Energy: Outlook 2023'.

    With current trends, such as the Russo-Ukrainian war and global energy transition policies, exposing Africa's fragile energy systems and deepening the continent's prevailing energy poverty, we believe that Africa must stand on its own two feet to maximize needed investments.

    to drive oil, gas, and renewable energy developments to modernize its power grid for safety and reliability.

    We believe the report provides regional and global investors with the insights they need to harness Africa's vast energy potential,” said NJ Ayuk, CEO of AEC.

    Download The State of Power in Africa: Outlook 2023 (https://bit.ly/3NbQLtD)

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