Page 35 - Energize April 2022

NEWS

Meanwhile, Angola’s state-owned Similarly, in Nigeria, a joint venture between Shell, TotalEnergies and Nigeria LNG is
energy company Sonangol, in partnership modernising the Train 7 LNG terminal on Bonny Island to allow an increase in gas exports.
with BP, Eni and TotalEnergies, is Nigeria has 190 tcf of proven gas reserves – the largest in Africa. In 2021, the country
developing a $12 billion LNG project exported approximately 23,3 bcm to Europe, and with the right infrastructure in place, this
offshore Angola, under efforts by the figure could increase dramatically.
government to leverage the country’s
11 tcf of proven gas reserves for energy Redirecting a focus on LNG infrastructure
security and economic growth. Although international majors and national oil companies have already made significant
With 1,5 tcf of proven gas reserves, progress regarding investments and developments to enhance LNG production across
Equatorial Guinea is also embarking Africa, additional funding is required to develop LNG terminals to enable energy exports to
on a series of regulatory reforms and international markets. Despite international investors restricting hydrocarbon investments,
exploration and production programs the need to replace Russian gas provides critical opportunities which Africa can leverage to
that are aimed at increasing gas output. develop its infrastructure. As the international community looks to reduce the reliance on
However, a lack of infrastructure to Russian gas, European states have already started to seek alternative gas suppliers. Africa,
increase exports has slowed down the with its massive gas reserves and production potential, could provide the capacity to assist
growth of the central African country’s oil European countries.
and gas market. As a result, African producers need to prioritise the development of capital-attractive
regimes that enable deals with European countries to be signed. Additionally, African
Fast-tracking LNG developments governments need to create political and business environments that encourage regional
Despite infrastructure deficits, Africa and international financial institutions and oil and gas majors to invest in infrastructure
has not been stagnant, and a number development, while seeking out alternative capital raising solutions.
of projects have been proposed and are For instance, Africa can also look towards Asian banks which are still willing to fund oil
being deployed. Notably, South African and gas developments in Africa, make use of a combination of domestic private sector and
state enterprise Transnet has secured $2 public sector funding, and leverage African-tailored solutions such as the proposed African
million in funding from the International Energy Bank, to speed up the development of infrastructure for gas exports.
Finance Corporation to design, finance “The need to speed up the installation of infrastructure that enables optimal energy
and construct an LNG import and exports has never been more vital than now, as more African producers seek to leverage
export terminal at Richards Bay port in current energy market trends to monetise their hydrocarbon resources.”
KwaZulu-Natal province. Backed by the The executive chairman of the African Energy Chamber, NJ Ayuk, says he anticipates
Brulpadda and Luiperd gas discoveries that African Energy Week (AEW) 2022, which is to be held in Cape Town between 18 and
made offshore South Africa – of which 21 October 2022, will witness the signing of many deals, especially for gas. These deals,
one billion barrels of gas condensate he says, may result from trends in Europe and Asia, and would benefit investors and host
could be recoverable in each field – the communities.
country could use this facility to increase AEW 2022 will host panel discussions, technical workshops, investment summits and
exports while enhancing domestic energy presentations on how Africa can attract investment to boost its oil and gas exploration and
security. production and to develop infrastructure needed to expand its energy exports.
Furthermore, the Senegalese and
Mauritanian governments, in partnership About Africa Energy Week
with BP and American company Kosmos AEW 2022 is the AEC’s annual conference, exhibition and networking event. AEW 2022
Energy, are also constructing a new LNG unites African energy stakeholders with investors and international partners to drive industry
export hub as part of the $4,8 billion growth and development and promote Africa as the destination for energy investments.
Greater Tortue Ahmeyim project to Key organisations such as the African Petroleum Producers Organisation, as well as
produce 30 million tonnes of LNG for both African heavyweights including Equatorial Guinea and Nigeria, have partnered with AEW,
domestic energy needs and exports. The strengthening the role the event will play in Africa’s energy future.
project represents one of the largest LNG
developments in Africa and is expected to For attendance related inquiries contact registration@aecweek.com
transform the regional energy space. For speaker related inquiries contact speakers@aecweek.com

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