The African Energy Chamber’s Invest in African Energy Forum recently ignited a wave of enthusiasm and collaboration in Paris, with influential figures from the energy sector converging to discuss opportunities, challenges, and strategies to amplify European investments in African energy projects. This groundbreaking forum aims to foster stronger bilateral connections between Africa and Europe, paving the way for a robust partnership in the energy sector.
The event’s opening ceremony featured prominent figures such as Hon. Tom Alweendo, Minister of Mines and Energy of Namibia; H.E. Bruno Jean-Richard Itoua, Minister of Hydrocarbons of the Republic of Congo; and NJ Ayuk, Executive Chairman of the African Energy Chamber. Ayuk emphasized the importance of driving deals, approving projects, and creating opportunities to accelerate the energy transition. Minister Itoua provided insights into Congo’s progress in gas monetization, highlighting plans for liquefied natural gas exports.
The Democratic Republic of Congo’s Minister of Hydrocarbons, H.E. Didier Budimbu Ntubuanga, discussed the nation’s potential in hydrocarbons, emphasizing legal incentives to attract investment. As Africa unlocks its oil and gas resources, European players are poised to play a crucial role in financing and developing these projects, as mentioned by Hon. Alweendo.
Rystad Energy presented its analysis of Africa’s energy landscape, underscoring the continent’s under-electrification compared to other regions. Senior Partner Per Magnus Nysveen highlighted the vast solar energy reserves in Africa and the potential to eradicate power poverty. The panel discussion on Africa’s upstream sector explored emerging trends and financing mechanisms, with speakers emphasizing the role of enabling environments in securing investment.
Namibia’s Minister of Mines and Energy, Hon. Tom Alweendo, clarified the government’s commitment to existing contractual terms in ongoing oil and gas developments. The focus is on utilizing royalties to create a fund for local entrepreneurs, contributing to local content development and capacity building.
Congo’s Ministry of Hydrocarbons signed a cooperation agreement with Technip Energies to expand collaboration in offshore and onshore energy developments. The agreement includes capacity building in energy transition principles, LNG, zero carbon solutions, and decarbonization.
The discussion on renewable energies, hydrogen, and decarbonization highlighted the shift towards green hydrogen projects in Africa. The panel emphasized the need for innovative approaches to achieve universal access goals, focusing on collaboration between the private sector and other industries like health and agriculture.
The changing relationship between African energy producers and global stakeholders, triggered by a new focus on local content, was a key topic. The forum stressed the importance of joint ventures in strengthening Africa’s energy industry, with speakers highlighting the role of training, capacity building, and collaboration.
Congo’s Hydrocarbons Minister, H.E. Bruno Jean-Richard Itoua, provided insight into the country’s gas and marginal field opportunities. The Gas Master Plan aims to promote gas utilization and attract foreign investment, positioning Congo as a major player in the global LNG market.
Namibia’s presentations showcased the country’s emergence as a highly attractive exploration and production market, with significant oil and gas discoveries. NAMCOR outlined plans for accelerated development, targeting first oil production by 2029.
The Invest in African Energy Forum set the stage for African Energy Week 2023 in Cape Town, where stakeholders will continue to explore investment opportunities, foster collaboration, and contribute to the continent’s energy renaissance.
