Global Courant 2023-04-21 12:18:20
In 2021, Africa Oil Week (AOW) made the decision to bring its conference to Dubai, citing that Africa was not equipped to host a large-scale conference in a safe manner due to the COVID-19 pandemic. The decision to take the conference out of Africa, despite representing a platform focused on African energy, led to discussions about Africa being taken out of the continent and led by international stakeholders. AOW claims the event is aimed at supporting Africa’s needs, but the decision to leave Cape Town for Dubai contradicted this ambition.
Then, in 2022, the AOW made the decision to return to Africa, claiming to make commitments to boost investment in African energy. But when Africa needed the most investment, the conference organizer was quick to bring it to Dubai.
What African Energy Week tried to prove and succeeded in doing so is that Africa has always been able to host large-scale events. Under strict COVID-19 security measures, the event proudly hosted delegations from both the African and global energy sectors, with billions in investment from the first edition of the conference alone. In 2022, the conference attracted thousands of delegates, with a series of industry-focused deals signed by companies and investors. When Africa needed the most investment, AEW responded quickly and provided a platform for stakeholders to meet and close deals.
Now in 2023, the conference promises an even bigger and better event than before, with extensive panel discussions, networking features and engagement opportunities laying the foundation for widespread and sustainable growth in Africa.
This year’s edition of AEW takes place under the theme of ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization and Free Markets’ and represents the platform upon which decisions about Africa’s energy future will be made. Since the event’s inception, AEW has represented a platform exploring every segment of Africa’s energy sector, focusing on how Africa can grow, benefit from its natural resources while mitigating climate change in the energy transition era.
This discussion could not have come at a better time for the continent. In 2023, South Africa will face one of the worst energy crises it has ever experienced, with power outages for up to ten hours a day. Despite significant amounts of oil and gas reserves being revealed with the discoveries of Brulpadda and Luiperd, the country continues to struggle with inconsistent supply and high energy prices. Meanwhile, neighboring Namibia has made three major oil and gas discoveries since 2022 – the Venus, Graff and Jonker-1X – and is making significant progress in developing these major finds.
Another neighboring country, Mozambique, is making steady progress on its three major gas projects: Mozambique’s Liquefied Natural Gas (LNG); Rovuma LNG and Coral South projects – open up new opportunities for regional trade if the right infrastructure is put in place. While AOW continues to be concerned about division and international focus, AEW has put South Africa’s energy crisis at the top of its agenda because AEW understands what people are going through and what solutions need to be found to address South Africa’s problems. energy crisis.
However, AEW’s focus transcends South Africa, with the event recognizing and supporting the development of various oil and gas projects across the continent. In Senegal and Mauritania, first production is expected for the Sangomar and Greater Tortue Ahmeyim projects, demonstrating the potential for offshore E&P investment. In Congo-Brazzaville, fringe projects are progressing as the government prioritizes gas investment and development, while Libya recently announced production has reached 1.2 million barrels per day – a major achievement.
While in Uganda progress is still being made in the development of Lake Albert Development, a multifaceted project that promises new opportunities for energy security and industrialization in East Africa. All of these projects and many more will be showcased at AEW, highlighting investment opportunities for existing and potential investors.
This year will see even more focus on Africa’s energy security and sustainability, with discussions on how the continent can industrialize, electrify and economically thrive while decarbonising through the development of a strong green energy base backed by oil and gas revenues. From tackling regulatory and tax matters to exploring green energy and low-carbon solutions to advocating for natural gas monetization and regional infrastructure developments, AEW 2023 is where energy deals are signed and developments get underway.
“While they may be establishing low energy advisory committees to demonstrate their focus on Africa, AEW will maintain its commitment to the continent by providing a comprehensive platform for energy stakeholders to meet and to sign deals. We are fully committed to driving investment across the entire African energy value chain and will continue our story of the past of energy poverty this year and beyond,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber, adding: “We urge their committee members to advise them not to misrepresent matters to the ministers and speakers who will be present at the AOW. Attracting investment in Africa is our main focus. We believe that African countries have the right to develop their oil and gas projects. Projects such as the East African crude oil pipeline in Uganda are essential to making energy poverty a thing of the past and we want to work with various governments to get AEW talking about an oil and gas strategy for Africa. We are not stage builders: we are a movement. We look forward to welcoming the regional and African energy community to Cape Town for AEW from October 16-20.”
Distributed by APO Group on behalf of African Energy Week (AEW).
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