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EnerGeo Alliance Champions Gas as South Africa’s Transition Fuel of Choice

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EnerGeo

Leveraging science, technology and a data-driven approach, the EnerGeo Alliance positions natural gas as South Africa’s premier transition fuel in its latest policy brief

JOHANNESBURG, South Africa, July 3, 2024/APO Group/ — 

In its latest natural gas policy brief, global trade association EnerGeo Alliance has positioned natural gas as the premier transition fuel for South Africa, citing its reduced carbon emissions, scalability and cost competitiveness. The African Energy Chamber (AEC) (www.EnergyChamber.org)– as the voice of the African energy sector – supports these data-driven findings and calls for greater foreign investment in Africa’s natural gas prospects.

South Africa’s power supply remains in urgent need of diversification away from aging coal- and diesel-powered plants. While the country is looking to renewables to diversify its power mix and alleviate load shedding, the brief identifies natural gas as the ideal transition fuel to achieving a low-carbon future and meeting the demands of South Africa’s rapidly growing population and economy. According to the report, countries that use gas as a source for power generation have seen their electricity supply grow approximately three times faster in the past decade than those without gas. The Chamber has long advocated for the exploration and development of Africa’s natural gas resources – of which the continent holds over 620 trillion cubic feet – and commends EnerGeo Alliance for championing its expanded role in the energy mix.

The AEC supports the EnerGeo Alliance in positioning gas as critical to South Africa’s energy independence and low-carbon future

With member companies spanning more than 50 countries, EnerGeo Alliance brings together the global geoscience industry to discover, develop and deliver alternative energy and low-carbon energy solutions that meet growing energy demand. Natural gas emits 50-60% less carbon dioxide, rendering it a relatively clean energy source able to meet power demand reliably and at scale. Gas also serves as a critical feedstock for the production of fertilizers and petrochemicals, as well as a source of process heat in energy-intensive industries, creating the potential to decarbonize heavy industry. According to the World Economic Forum, a tripling of sub-Saharan Africa’s power consumption using natural gas would only correspond to a one percent increase in global carbon emissions.

Natural gas also represents the most cost-effective pathway to energy security for South Africa and the continent at-large. It can provide both base load and backup power – whereas solar and wind power present intermittency problems – and is more cost-competitive as a base load supply than nuclear. According to the policy brief, large-scale discoveries like Brulpadda-Luiperd, the offshore Orange Basin and shale reserve prospects in the Karoo Basin suggest that South Africa could not only meet its power demand through domestic gas resources, but also stimulate broader economic development through regional gas exports.

EnerGeo Alliance highlights South Africa’s promising reserves in Mossel Bay and the Orange River Basin, as well as shale gas in the Karoo Basin, for further upstream investment. Through advanced seismic survey, upstream geoscience and data generation activities play a key role in identifying potential gas reserves, de-risking exploration and reducing the environmental footprint associated with gas exploration and extraction. Major investment is also needed across South Africa’s midstream and downstream sectors, including regional transmission pipelines, gas storage facilities and gas-to-liquids, regasification and LNG plants. While the construction of gas-fired power plants is already underway at Coega, Richards Bay and Saldanha Bay, new projects are needed to boost South Africa’s gas availability and reliability.

“The AEC supports the EnerGeo Alliance in positioning gas as critical to South Africa’s energy independence and low-carbon future. The science confirms this, and the bottom line confirms this. More capital must flow to African upstream and integrated gas projects, and we must support the geoscience community so that natural gas exploration is no longer seen as a risk, but as a given,” says NJ Ayuk, AEC Executive Chairman. 

Distributed by APO Group on behalf of African Energy Chamber.

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Ministers among hundreds of energy-sector leaders to attend AOW event

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Sinclair

The event kicks off with an invitation-only ministerial symposium focused on the theme of “Fostering innovation, attracting investment, and promoting sustainable growth in the oil, gas, and energy sectors”

CAPE TOWN, South Africa, October 4, 2024/APO Group/ — 

AOW: Investing in African Energy (https://AOWEnergy.com) – Africa’s leading oil, gas and energy event – has confirmed attendance for more than 80 ministers and senior officials, representing African governments, energy departments and regulators at next month’s event.

These influential stakeholders will be among the more than 1 600 senior delegates and industry leaders who will be attending the event to develop policy, share discoveries, secure investment, and shape Africa’s energy future.

The event kicks off with an invitation-only ministerial symposium focused on the theme of “Fostering innovation, attracting investment, and promoting sustainable growth in the oil, gas, and energy sectors.”

Given the recent major oil-and-gas discoveries across Africa, the energy transition and major geopolitical events, it is clear that the energy sector needs positive intervention

Among the officials and government ministers attending will be energy leaders from South Africa, Nigeria, Namibia, Cote d’Ivoire, Mozambique, DRC, Ghana, Kenya, Madagascar, Eswatini, Uganda, CAR, Guinea Conakry, Guinea Bissau, Ethiopia, The Gambia, Gabon, Malawi, Morocco, Zanzibar, Liberia, Senegal, Congo Brazzaville and Sierra Leone.

In addition, the event will feature high-level delegations from numerous national oil companies, as well as multilateral bodies including the African Union, (AU), African Energy Commission (AFREC), African Petroleum Producers’ Organization (APPO) and the Southern African Power Pool (SAPP).

AOW will see these energy leaders networking with C-suite executives and decision-makers from more than 760 top energy companies at daily networking events, to discuss insights, forge new relationships, and negotiate major energy deals.

“We are so excited to see the calibre of delegates at this year’s AOW event,” says Chief Executive Officer of Sankofa Events, Paul Sinclair. “Given the recent major oil-and-gas discoveries across Africa, the energy transition and major geopolitical events, it is clear that the energy sector needs positive intervention. The high-powered attendance proves AOW is a key platform to enable this intervention.”

Key themes to be discussed at this year’s AOW will be sustainable upstream development; expanding gas value chains; renewables and new energies; adoption of best-in-class technologies; and access to finance.

AOW: Investing in African Energy will culminate in a special anniversary party at Groot Constantia Vineyard to celebrate 30 years of the AOW event.

Distributed by APO Group on behalf of AOW: Investing in African Energy.

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Afreximbank approves US$20.8 million for Starlink Global’s cashew factory project in Lagos

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The facility is expected to promote value addition which will guarantee increased earnings to the company while also fostering the creation of about 400 new jobs

CAIRO, Egypt, October 4, 2024/APO Group/ — 

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has approved a US$20.8 million financing facility for Nigeria-based Starlink Global & Ideal Limited to enable the company construct and operate a 30,000-metric tonne per annum cashew processing factory in Lagos.

We are delighted at this partnership which promises to deliver significant impact on employment in Nigeria

According to the facility agreement signed in on July 22, 2024, Afreximbank will provide the funds in two tranches with the first tranche of US$7.48M going toward capital expenditure for the construction of the factory and the second, totalling US$13.25M to be deployed as working capital for the operations of the factory.

The facility is expected to promote value addition which will guarantee increased earnings to the company while also fostering the creation of about 400 new jobs once the factory becomes operational. It is also expected to support about 40 small and medium-sized enterprises.

Commenting on the transaction, Mrs. Kanayo Awani, Executive Vice President, Intra Africa Trade and Export Development, Afreximbank, said that by supporting Starlink Global to establish a modern processing facility, Afreximbank is making it possible for Africa to add value to its agro-commodities, thereby facilitating exports and subsequent inflow of much-needed foreign exchange into the continent.

“We are delighted at this partnership which promises to deliver significant impact on employment in Nigeria. It will contribute to value creation and to the development of the local community while also improving the lots of smallholder farmers and small business suppliers that will work with Starlink across the value chain,” Mrs. Awani added.

Distributed by APO Group on behalf of Afreximbank.

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Sonangol to Lead Decarbonized Oil & Gas (O&G) Development, Says Angolan National Oil Company (NOC) Head

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Sonangol

Participating in an on-stage interview at Angola Oil & Gas 2024, Sonangol CEO Sebastião Gaspar Martins emphasized that oil and gas remains a core focus for the national oil company

LUANDA, Angola, October 3, 2024/APO Group/ — 

Angola’s national oil company Sonangol reiterated its commitment to driving sustainable hydrocarbon development during the Angola Oil & Gas (AOG) conference this week. Speaking during an “In-Conversation with” session, Sonangol CEO Sebastião Gaspar Martins stated that the company will not abandon oil and gas, but rather advance decarbonized oil and gas development.

We are looking at opportunities in the gas sector and have identified the right partner to develop non-associated gas

By investing in upstream oil and gas production while prioritizing low-carbon projects, Sonangol aims to boost national crude output, while diversifying and decarbonizing the industry. The NOC is focusing efforts on non-associated gas development, as well as alternative energy sources such as solar.

“We are looking at opportunities in the gas sector and have identified the right partner to develop non-associated gas. Gas produced from Angola LNG will be used for the production of fertilizer and we are evaluating the utilization of gas in the south of the country, linking gas with steel industries. We also have a blue carbon project, linked to the reduction of carbon through the plantation of mangroves. We have one area in Luanda and have identified four additional areas for this,” stated Gaspar Martins.

Sonangol has undergone transformation in recent years: following the creation of the National Oil, Gas & Biofuels Agency (ANPG) in 2019, Sonangol transferred its role as national concessionaire and regulator. This transformation has aimed to make Sonangol more competitive and strengthen its capacity as an upstream operator. Concurrently, the government is partially privatizing the NOC, with privatization set to be complete in 2026. This process will enhance financial capacity, allowing Sonangol to drive new upstream projects forward.

“The transformation of Sonangol started several years ago, when we passed the regulatory, concessionaire role to the ANPG. At the time, we transferred almost 600 employees to the ANPG. After that, Sonangol underwent a restructuring program where we created five core business units from 36 different entities – starting with exploration and production. We want to go public, but we want to do it properly. So, we are currently going through all the processes to do this,” stated Gaspar Martins.

Distributed by APO Group on behalf of Energy Capital & Power.

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