This year’s African Energy Week (AEW): Invest in African Energy conference – Africa’s premier event for the energy sector, taking place from November 4-8 in Cape Town – is set to drive discussions on balancing the priorities of energy security and the energy transition in Africa. The event will feature a number of panel sessions that highlight the imperative of African energy development; a just and inclusive energy transition; the increasing demand for oil and gas across the continent; and how to address the unique challenge faced by African nations in ensuring energy security.
Home to over 125 billion barrels of proven crude oil reserves and 620 trillion cubic feet of gas, Africa’s resource wealth stands at the intersection of global energy security. As such, scaling up energy security through the exploitation of the continent’s entire energy resource base represents a top priority for Africa in the current energy transition context. Meanwhile, the continent is also well-positioned to leverage its vast wind, solar and hydro resources to ensure the transition to sustainable development is just and inclusive for the entire population.
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Despite being home to an abundance of energy resources, approximately 600 million people – or 43% of the total population – in Africa lack access to electricity, while over 900 million lack access to modern and clean cooking solutions. Africa’s energy sector is presented with a prime opportunity to develop its own industry while tackling energy poverty and strengthening its stake in the global energy supply chain. As such, AEW: Invest in African Energy will feature a panel session, titled: Global Energy Security, The Imperative of African Energy Development, which will address challenges and opportunities while providing recommendations for industry stakeholders and investors to collaboratively build a secure energy future for Africa and the world. Set to feature a strong ministerial lineup – with delegations from Angola, Namibia and Senegal – the session will also host representatives from energy supermajor Chevron, financial institution Afrexim Bank as well as integrated energy company Oando CEO Wale Tinubu.
In December last year, the Dangote Petroleum Refinery and Petrochemicals plant in Nigeria successfully acquired one million barrels of Agbami crude grade from petroleum distribution company Shell International Trading and Shipping, supplying the plant’s initial processing capacity of 350,000 barrels per day (bpd). Meanwhile, in November, limited liability company the West African Gas Pipeline Company commissioned the interconnected West African Gas Pipeline to the Sentuo Refinery project in Tema, Ghana, representing a key step towards starting operations at the 120,000-bpd plant. These developments are poised to address Africa’s future energy needs while providing significant investment across the downstream value chain to supply cleaner fuels and value-added petroleum products to its expanding population. Set to showcase the importance of downstream development, AEW: Invest in African Energy will feature a panel session – Just Energy Transition and the Role of Cleaner Fuels – that invites leaders to share insight into accelerating African refining capacity and meeting primary energy demand. The session will be led by Anibor Kragha, Chief Executive of pan-African organization the African Refiners&Distributors Association.
The increasing demand for oil and gas across Africa, driven by the continent’s growing population and rapid industrialization, is driving exploration and the growth of domestic oil and gas markets. As countries look to their significant resource potential to provide reliable and affordable energy to fuel economic growth, international focus on reducing emissions underscores the need to develop low-carbon fuels to ensure sustainable development and positive contributions to each nation’s energy evolution. As such, the Advancing Exploration in Africa and the Energy Trilemma session will explore these themes and the importance of geoscience in supporting the discovery and development of resources to meet current and future demands. The session features a strong lineup of speakers, which include representatives from energy supermajors ExxonMobil and Chevron – including Chevron’s Vice President of Global Exploration Liz Schwarze and Nikki Martin, President and CEO of EnerGeo Alliance, a strategic partner to AEW. The panel will also include the CEO of energy analytics company TGS ASA Kristian Johansen and the Director of Exploration Data and Geosolutions at global technology company SLB.
Ahead of this year’s 2024 UN Climate Change Conference (COP29), leading policy experts, government officials and African and international energy companies will come together at AEW: Invest in African Energy’s flagship session, Words into Action: Advancing African Priorities in the Just Energy Transition. This session will discuss the critical role of COP29 in advancing the global energy transition while addressing the unique challenges faced by African nations in ensuring energy security, poverty reduction and industrialization. This flagship panel includes an impressive lineup of ministerial delegates including Libya’s Minister of Oil and Gas Mohamed Aoun and Nigeria’s Minister of State for Petroleum (Oil) Heineken Lokpobiri, among others to be confirmed.
“The significance of AEW: Invest in African Energy 2024 lies in its ability to catalyze change in the African energy sector. With rising demand for energy and the need for sustainable development causing significant implications for countries, African nations are at a crossroads. This year’s event and its diverse and all-encompassing sessions and discussions will serve as a catalyst for sustainable development and economic growth across the continent,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.
Distributed by APO Group on behalf of Energy Capital&Power.