Page 23 - Energize February 2021

Compiled by Roger Lilley, Now Media

Biggest investment yet Transforming the energy sector

The Mozambique Liquefied Natural Gas (LNG) Area 1 Project and the African Development Bank The Senegalese president, Macky Sall,
have jointly received the prestigious Global Multilateral Deal of the Year 2020 award by the print has called for a transformation of
and online publication Project Finance International (PFI). The project, the single largest foreign organisation, management, execution and
direct investment in Africa to date with a value of over US$24-billion, will exploit Mozambique’s evaluation processes within the domestic
immense offshore natural gas reserves, which can potentially transform global energy markets. oil and gas sector, as the country
prepares to enter oil and gas operations
from 2023. The president advocates for
Expanding reach into Suppling natural gas to the enhanced management of oil and gas
neighbouring country Equatorial Guinea resources, supported by a new roadmap
which accelerates reforms and ensures
Cameroon’s Tradex has inaugurated its first Nigeria and Equatorial Guinea have agreed adequate supervision of projects by the
service station in Equatorial Guinea as part of to expedite joint cross-border cooperation relevant ministers and parastatals. The
its expansion plan. The launch forms part of its for the supply of gas from Nigeria to president seeks to establish the National
three-year expansion plan, launched in 2019, Equatorial Guinea. This cooperation Institute of Oil and Gas, and formalise
to invest approximately $25 million in agreement will create an opportunity for regulation related to education and
Equatorial Guinea through building a network Equatorial Guinea’s energy sector to fulfill training in the sector.
of ten service stations. The new filling station, its local content development plans. This
located in Malabo II, has a storage capacity of agreement signals that energy
100 000 litres of fuel and 300 tanks of 12,5 kg cooperation between neighbours on the Morocco gets a major boost
of butane gas. The collaboration between continent can unlock tremendous value for
Equatorial Guinea and Cameroon highlights the African nations, especially in the Gulf of Morocco aims to meet its energy needs by
benefit of regional integration and provides Guinea where there is great potential for combining large-scale energy efficiency
local solutions to local challenges. such collaborations. strategies and renewable energy
investments. The African Development
Bank’s Sustainable Energy Fund for Africa
Responding to environmentalist groups (SEFA) will provide a grant of $965 000 to
Morocco’s Société d’Ingénierie Energétique
Environmentalist groups protested when Angola said it was drafting legislation to permit oil, gas, (SIE), to support its transition into the first
and mining activities in 14 national conservation areas, including the Luengue-Luiana National Super Energy Service Company (ESCO)
Park, which represents part of the Kavango-Zambezi Transfrontier Conservation Area stretching initiative in Africa. Super ESCOs are vehicles
across Angola, Namibia, Botswana, Zambia and Zimbabwe. However, Angola’s minister of Mineral for channelling funds into public sector
Resources, Petroleum and Gas, Diamantino Pedro Azevedo says that the country’s existing energy efficiency investments such as
stringent environmental legislation would be complied with. The country has taken one of the hospitals, schools, and street lighting, laying
most balanced approaches to global Environmental, Social and Governance (ESG) standards in the foundation for private investment later
the region,placing environmental protections and continued hydrocarbon production on equal in the commercial and industrial sectors.
footing within its constitution and national agenda.

Acquisition of oil assets
Making bids more transparent Safeguarding operations
Panoro Energy will acquire Tullow Oil’s
Angola’s National Agency for Oil, Gas and With substantial offshore gas discoveries assets in Equatorial Guinea. The parties
Biofuels (ANPG) now allows those equating to over 100 trillion cubic feet (tcf), have signed a sale and purchase agreement
interested in partaking in the ongoing Mozambique has seen an influx in foreign worth $105 million, pursuant to which
licensing round for oil blocks in the onshore investment in LNG developments. The Tullow has agreed to sell its entire
Kwanza and Lower Congo Basins to consult proliferation of security threats to interest in Tullow Equatorial Guinea Limited.
the available data packages before Mozambique’s LNG industry by militant This transaction forms part of Tullow’s
purchasing them. The ANPG will ensure that Islamic groups led to Total withdrawing US180-million sale of assets to Panoro in
qualified participants start the process and personnel from its LNG site in January. West Africa. Panoro is an independent E&P
secure agreements at the end of the According to NJ Ayuk, Executive Chairman of company based in London and listed on the
process. The ongoing licensing round the African Energy Chamber, Mozambique’s Oslo Stock Exchange with ticker PEN. The
foresees yearly bid rounds until 2025. ongoing security threats can be addressed company holds high quality exploration and
Angola is intent on attracting interest far through community participation and production assets in Africa with oil
beyond the traditional players in its oil and cooperation, as well as reinforced through production from fields in Tunisia, Gabon,
gas sector. security regulation and government support. Nigeria and now Equatorial Guinea.

energize | February 2021 | 21