Market-focused webinar covering the state of energy in Africa to be hosted by the ACS
The African Energy Chamber (AEC) (www.EnergyChamber.org) is proud to announce the launch of a Market Focused Webinar which will take place on Wednesday, April 13, 2022 at 4:00 PM SAST. Aiming to provide an overview of the state of play in the African energy landscape, the webinar will be led by AEC Executive Chairman, NJ Ayuk, and will cover topics such as opportunities across the value chain – including upstream, in the middle and downstream -; the challenges facing African energy players in 2022; market impacts related to Russia and Ukraine; and natural gas as the engine of Africa’s energy future.
The global energy market is changing due to the ongoing Russian-Ukrainian conflict, lack of investment in oil and gas, and energy transition trends. These challenges have led to significant increases in oil prices globally as well as in African countries like Nigeria, South Africa among others. In a bid to take advantage of rising prices and increase exports to global markets, countries across the continent are focusing on accelerating exploration and production, with major developments such as the introduction tenders in Mozambique, Angola and South Sudan, boosting upstream activities. On the exploration front, several achievements have already been made in 2022, such as the Shell and TotalEnergies discoveries in Namibia earlier this year, highlighting the frontier potential of the southern African country. In addition, South Africa is progressing in the exploitation and exploration of its border basins and the government hopes to see discoveries similar to those in neighboring Namibia.
In East Africa, Uganda and Tanzania have announced the final investment decision for the long-awaited Lake Albert Development Project – comprising the upstream projects of Tilenga and Kingfisher in Uganda and the construction of the pipeline of East African crude oil. Among other developments across the continent, this project will position Africa as one of the leading producers of hydrocarbons and a major exporter. As other countries seek to launch their own developments, significant opportunities arise for regional and international investors. During the webinar, the AEC will address these market changes, providing an update and empowering stakeholders with the information they need to make informed decisions this month and for the rest of 2022.
Moreover, as global investment trends are shifted towards diversifying gas supply chains and mitigating price increases, high-potential gas markets in Africa stand to benefit. The continent’s gas potential is unmatched and major projects are already underway that have the potential to meet the energy needs of Africa and Europe. Notably, Equatorial Guinea is advancing its Gas Mega Hub with a recent agreement signed with Nigeria; Mozambique aims to take over operations of the large-scale Rovuma liquefied natural gas project led by TotalEnergies; Senegal advances on the development of Grand Tortue Ahmeyim; and Nigeria has become the preferred supplier to European markets with the resumption of construction of the trans-Saharan gas pipeline.
With policies such as Congo’s Gas Master Plan, Nigeria’s Petroleum Industry Act and Equatorial Guinea’s Hydrocarbons Act making the continent a particularly attractive gas investment destination, Africa is poised to see significant capital flows in 2022 and beyond. Accordingly, the webinar focuses on gas, with presenters deliberating on how the continent can ensure countries are both attractive and competitive for foreign capital. Specifically, the webinar will feature insights from leading professionals in the African energy space, while making the case for natural gas in Africa.
Meanwhile, as continental players focus on attracting investment in key oil and gas projects, the role played by domestic financial institutions has been highlighted. In this regard, energy leaders across the continent have called for the establishment of an African Energy Bank, an institution that can take on the role of financing Africa’s oil and gas projects following international divestment. In the search for capital raising solutions for Africa, the webinar will feature a discussion on banking policies, foreign spending regulations and the ease of doing business in key regions of the continent. In deliberating on these policies, the webinar will discuss their impact on Africa’s energy growth and what can be done to ensure increased productivity and progress.
Additionally, the webinar will include an update on the continent’s premier energy event, Africa Energy Week (AEW) 2022, which runs from 18-21 October 2022 in Cape Town. The event, which brings together global and African energy stakeholders for four days of intense dialogue on Africa’s energy future, is being held under the theme “Exploring and Investing in Africa’s Energy Future while by creating an enabling environment”, and represents the official meeting place for the African energy sector. During the webinar, Ayuk will provide an update on AEW topics, schedule, and speakers.
Featuring insights from leading professionals in the African energy space, the webinar represents a vital opportunity for market updates and events in Africa. The webinar serves as a prelude to AEW 2022 and will additionally feature a Q&A session on current deals as well as those to be signed at AEW 2022 in Cape Town. Ayuk will provide updates on recent ACS trips to Europe, providing insight into topics such as hydrogen, EU-Africa gas trends and how the continent can eradicate energy poverty by 2030.
Register for the webinar here: https://bit.ly/3LQdhqh and get critical insight into the African energy sector and its future, in a webinar hosted by the voice of Africa’s energy sector!
Distributed by APO Group for the African Energy Chamber.