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Long-Term Sales Contracts Could Be Key to Senegal’s, Mauritania’s Natural Gas Success (By NJ Ayuk)

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natural gas

The deal calls for Kosmos to provide 2.45 million tonnes per annum (mtpa) of LNG for an initial term of up to 20 years

JOHANNESBURG, South Africa, July 25, 2022/APO Group/ — 

By NJ Ayuk, Executive Chairman, African Energy Chamber (www.EnergyChamber.org)

In 2020, rich natural gas resources offshore Mauritania and Senegal were the subject of the biggest long-term liquefied natural gas (LNG) contract signed that year.

The agreement between American oil firm Kosmos Energy, its partners, and BP Gas Marketing Limited, was for LNG from Phase 1 of the Greater Tortue Ahmeyim project, offshore Mauritania and Senegal. The deal calls for Kosmos to provide 2.45 million tonnes per annum (mtpa) of LNG for an initial term of up to 20 years. 

The deal was a milestone for the companies and for Senegal and Mauritania.

But frankly, with so many natural gas projects starting up in the two countries, we should be hearing about even more long-term gas sales contracts.

Currently, Kosmos Energy and its partners (BP, Senegal’s state-owned oil company, Petrosen; and Mauritania’s Societe Mauritanienne des Hydrocarbures) have only succeeded in securing sales contracts for Phase 1 volumes of the Greater Tortue Ahmeyim Project. This is despite the fact the project is estimated to have 15 trillion cubic feet of gas production potential, enough for 30 years of production or more.

In another promising BP and Kosmos Energy partnership, the ultra-deepwater Yakaar-Teranga gas field offshore Senegal — holding an estimated 2,739 billion cubic feet of natural gas reserves — only a fraction of Phase 1 volumes have been contracted.

And that’s more than we can say for BP’s BirAllah project in Mauritania, projected to generate 1,642 barrels per day of crude oil and condensate, 277 million cubic feet (Mccfd) per day of natural gas, and 1,304 Mmcfd of liquid natural gas by 2030. As of yet, production from BirAllah remains uncontracted.

I can’t understate the importance of pursuing long-term sales contracts to help set the stage for gas project success. When companies secure decades of LNG purchases, for example, they’re much more likely to line up the investor support they’ll need to produce the natural gas that they’ll eventually be liquifying. Why? Long-term contracts minimize investors’ risks; they know that the revenue that comes in from LNG sales will help cover their investment costs.

Long-term contracts minimize investors’ risks; they know that the revenue that comes in from LNG sales will help cover their investment costs

Natural gas project start-ups are likely to send production levels in Senegal and Mauritania soaring, from practically nothing to 265,000 barrels of oil equivalent per day (boepd) by the end of the 2020s. That momentum is likely to build with production nearly doubling to more than 500,000 boepd by 2035, tripling to 750,000 boepd by 2040, and continuing to rise well into the 2040s.

This represents great promise, both for the oil and gas companies in the region and also for the people of Senegal and Mauritania. The gas these projects generate can create tremendous job and entrepreneurial opportunities. It can meet domestic needs for gas-to-power programs designed to address energy poverty. It can be monetized, and in turn, help fund much-needed infrastructure, from pipelines to ports, with the potential to foster economic growth and diversification. And, it can serve as feedstock for petrochemical and fertilizer plants, which will contribute to industrialization and even more economic growth.

These are all reasons why the African Energy Chamber, in our forthcoming Petroleum Laws – Benchmarking Report for Senegal and Mauritania, urges companies in the region to make securing long-term gas sales contracts a priority. By fostering stable gas project revenues and investor security, long-term agreements will help Senegal and Mauritania fully capitalize on their natural gas resources.

The Time is Right

While Kosmos Energy’s long-term sales agreement with BP Gas Marketing Limited could be called a rarity in 2020 when COVID-19 practically killed demand for oil and gas and forced companies around the globe to put projects on hold, there’s every reason to be optimistic about securing long-term gas sales contracts in 2022. This is particularly true in European markets, which recently made a dramatic shift away from spot transactions (immediate or near-term sales with no guarantee of additional transactions going forward) for LNG.

That transition began within the last year, when Europeans began feeling the impacts of diminishing natural gas supplies, Irina Slav wrote for Oilprice.com.

“A decline in investments in new gas production, long lead times on liquefaction facilities, and growing pressure on emission reduction collided to result in tight gas supply as demand continued to grow globally,” Slav explained. “Europe, the poster child of the energy transition, was horrified to learn it did not have enough wind and solar generation capacity to replace gas consumption — especially amid low wind speeds and during the less sunny seasons.”

Those circumstances sent demand for long-term gas supplies soaring. And then Russia invaded Ukraine.

“The Russian invasion of Ukraine has had a dramatic impact on long-term LNG contracts,” Wood Mackenzie principal analyst Daniel Toleman said in June. “Many traditional LNG buyers will neither procure spot gas or LNG nor renew or sign additional LNG contracts with Russian sellers. Spot prices have also been high and volatile, pushing many buyers towards long-term contracts. Additionally, some buyers are returning to long-term contracting on behalf of governments to protect national energy security.”

All of these factors are converging to create a window of opportunity for securing long-term gas and LNG contracts, and companies in Senegal and Mauritania should be capitalizing upon it.

Government leaders there are doing their part to help: Both Senegal and Mauritania have worked to offer international oil and gas companies favorable economic terms to operate within their borders, meaning companies can pursue projects with lower capital expenditures.

So, my message to oil and gas companies operating in Senegal and Mauritania is, act now to lock in long-term sales agreements for gas and LNG. Europeans could back their words by signing long-term agreements. Our industry need to act now to put ourselves in the optimum position for attracting investments. Do what it takes to achieve a win-win that could be beneficial for you while setting the stage for local communities, businesses, and individuals to realize a more prosperous future.

Distributed by APO Group on behalf of African Energy Chamber.

Business

Sierra Leone’s PDSL to Host Strategic Investor Roundtable at Paris Energy Forum

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Energy Capital

The Petroleum Directorate of Sierra Leone will lead a targeted roundtable at Invest in African Energy 2026, spotlighting upstream potential and cross-regional partnerships

PARIS, France, March 24, 2026/APO Group/ –The Petroleum Directorate of Sierra Leone (PDSL) is set to convene an investor roundtable at Invest in African Energy (IAE) Forum 2026 in Paris, underscoring growing interest in West and North African energy markets and the need for deeper capital engagement across exploration, renewable and offshore services. The session reflects a strategic effort by Sierra Leone to connect its emerging upstream prospects with established operators and project developers as the country moves to unlock the full potential of its emerging oil and gas industry.

 

Sierra Leone is increasingly positioning itself as a frontier oil and gas market with significant offshore potential, and part of the PDSL’s mandate is to catalyze investment interest in its offshore acreage through direct engagement with global capital. Recent data suggest the country holds estimated recoverable resources in the tens of billions of barrels, backed by discoveries and extensive multi‑client seismic datasets that prospective investors are evaluating. The PDSL is actively promoting licensing opportunities and drilling plans, emphasizing fiscal terms and exploration readiness to attract strategic partners.

 

A cornerstone of this strategy is the anticipated launch of the country’s sixth licensing round. Offering a rare early-entry opportunity into a largely untapped deepwater terrain with considerable upside, the upcoming bid round is backed by fresh 3D datasets which de-risk exploration and support new drilling campaigns. Just this month, GeoPartners announced that the final Pre-Stack Time Migration data for its recently acquired 3D multi-client seismic survey in the country was complete and is now available for licensing. The dataset provides a 3D window into the hydrocarbon potential of the underexplored northern Sierra Leone region.

 

Sierra Leone’s licensing drive comes as major operators advance exploration activities. In 2025, Eni signed a Reconnaissance Permit Agreement with the PDSL, securing rights to conduct reconnaissance and technical evaluation activities across offshore blocks G113, G129, G130, G131 and G132. The acreage covers 6,790 square kilometers within Sierra Leone’s territorial waters. Nigeria’s F.A. Oil Limited is pursuing drilling following its award of six offshore blocks through the country’s fifth licensing round in 2023. The company is currently seeking a farm-in partner to advance the project from exploration to production, offering a 40% stake in each of the G Blocks 53, 54, 55, 71, 72 and 73.

 

As these development unfold, the upcoming roundtable at IAE 2026 offers a unique opportunity for operators and policymakers to engage potential investors. The IAE 2026 Forum has become a strategic bridge between African upstream opportunities and global investors, with sessions like the PDSL roundtable designed to foster deeper dialogue and provide clarity on project pipelines and investment prerequisites. Discussions are expected to cover mechanisms for de‑risking exploration activity, optimizing fiscal and contractual frameworks and identifying synergies between hydrocarbon investment and renewable energy commitments.

 

For investors seeking differentiated exposure to African energy markets, the Sierra Leone roundtable represents both a focused exploration of frontier oil potential and a broader conversation about regional infrastructure, partnerships and the evolving demands of energy capital in the years ahead.

 

IAE 2026 (www.Invest-Africa-Energy.com) is an exclusive forum designed to connect African energy markets with global investors, serving as a key platform for deal-making in the lead-up to African Energy Week. Scheduled for April 22–23, 2026, in Paris, the event will provide delegates with two days of in-depth engagement with industry experts, project developers, investors and policymakers. For more information, visit www.Invest-Africa-Energy.com. To sponsor or register as a delegate, please contact sales@energycapitalpower.com

 

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

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Cape Town Prepares for African Mining Week 2026 as Draft Program Reveals Continent’s Mineral Drive

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Energy Capital

African Mining Week returns for its 2026 edition with an expanded three-day program, bringing together African mining leaders and global partners to shape the future of the continent’s mining sector

CAPE TOWN, South Africa, March 24, 2026/APO Group/ –Global economic trends – from record-breaking commodity prices to intensifying geopolitical competition for resources – are reshaping the strategic importance of Africa’s mineral wealth. As global countries race to secure supply chains for energy transition metals – which are expected to triple by 2030 – Africa is positioning its 30% share of the world’s critical minerals as a key pillar of economic growth. African governments are modernizing mining codes, developing industrial corridors and investing in mineral processing facilities to support local beneficiation, job creation, workforce development and regional mineral markets.

 

Against this backdrop, the upcoming African Mining Week (AMW) Conference & Exhibition – Africa’s premier gathering for mining stakeholders – has launched the draft program for its 2026 edition {https://apo-opa.co/3NneKLj}. Scheduled to take place October 14–16 in Cape Town, the event provides a platform where policymakers, global investors, project operators, technology providers, academia and mining service companies examine Africa’s mining opportunities, challenges and long-term strategic direction.

Under the theme ‘Mining the Future: Unearthing Africa’s Full Mineral Value’, the three-day, multi-track agenda reflects the growing urgency among African markets to strengthen value addition across the mining value chain.

Regional Cooperation and Policy Alignment in Focus

A key feature of the agenda is the Ministerial Forum, where African mining ministers will provide updates on regulatory reforms and policy alignment initiatives aimed at unlocking greater value from the continent’s mineral resources. Discussions will examine how harmonized regulatory frameworks and regional cooperation can accelerate investment flows and strengthen Africa’s position in global mineral supply chains.

The inclusion of regional policy integration reflects a growing continental push to leverage frameworks such as the African Continental Free Trade Area (AfCFTA) to enhance cross-border mineral cooperation and trade.

We are acting to enhance regional integration through frameworks such as the African Mining Vision and the Africa Mineral Strategy Group

“Africa’s integration is not only a political objective but a strategic economic vision,” stated Emmanuel Armah-Kofi Buah, Ghana’s Minister of Lands and Natural Resources, in remarks reported by Energy Capital & Power – organizers of AMW – in February 2026. “Our natural resources require coordinated policies. Isolated legal frameworks cannot fully unlock their value. Through integration and initiatives such as the ECOWAS [Economic Community of West African States] Mining Code and the African Mining Vision, we can build a stronger and more competitive mineral economy.”

Nigeria’s Minister of Solid Minerals Development, Henry Alake, echoed this emphasis on regional cooperation and beneficiation.

“We are acting to enhance regional integration through frameworks such as the African Mining Vision and the Africa Mineral Strategy Group,” he stated. “We must develop mineral corridors that connect resources, infrastructure and markets across the continent. Our goal is not to simply export raw materials, but to develop industrial hubs that create jobs and value across borders.”

Connecting Global Investors with African Opportunities

Strategic roundtables and Country Focus sessions form a key part of the AMW 2026 program, connecting African mining jurisdictions with international partners from the U.S, Europe, the Middle East and China. These sessions will provide African stakeholders with a platform to showcase exploration opportunities and project pipelines across the mining value chain.

Meanwhile, technical workshops and the exhibition floor at AMW 2026 will provide a platform for equipment manufacturers, technology providers and engineering firms to showcase innovations designed to enhance operational performance across mining operations.

By combining high-level policy dialogue with technical expertise and investment matchmaking, AMW 2026 positions itself as a critical marketplace where Africa’s mineral potential converges with global capital, technology and strategic partnerships – helping shape the next phase of growth for the continent’s mining sector.

AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2026 conference from October 12-16 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

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

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Tony Elumelu Foundation Selects Seven North African Entrepreneurs in 2026 Cohort

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entrepreneurs

Seven North African entrepreneurs in technology, education, professional services and agriculture selected from 265,000 applications at historic Abuja ceremony

Hope is not just a feeling — it is a system we can build

ABUJA, Nigeria, March 24, 2026/APO Group/ —

  • 7 North African entrepreneurs selected from Morocco, Tunisia and Egypt
  • 51% of the 2026 cohort are women, all selected purely on merit, without any quota in place
  • 3,200 total entrepreneurs selected from 265,000+ applications across 54 African countries
  • USD 5,000 in non-refundable seed capital for each selected entrepreneur
  • Selection conducted independently by Ernst & Young

 

The Tony Elumelu Foundation (TEF) (www.TonyElumeluFoundation.org), the leading philanthropy empowering young African entrepreneurs, announced on Sunday, 22 March 2026 the 12th cohort of the TEF Entrepreneurship Programme at a ceremony held at the Transcorp Hilton, Abuja. The announcement was made by Founder Tony O. Elumelu, C.F.R.

 

Among the 3,200 entrepreneurs selected from 265,000 applications received from all 54 African countries: seven from North Africa. Three from Tunisia, two from Morocco, two from Egypt. Spanning technology, education, professional services and agribusiness, they represent a generation of North African founders building businesses that address the urgent needs of their communities. Their selection, which was conducted independently by Ernst & Young, places them among the most rigorously assessed young entrepreneurs on the continent.

 

This year’s cohort carries a historic signal: 51 percent of the 2026 entrepreneurs are women. They were selected purely on merit, without quota. Across hundreds of thousands of applications, women distinguished themselves through the strength of their ideas, the clarity of their business models and the ambition of their vision.

 

In 2026, the Foundation is empowering a total of 3,200 entrepreneurs across all its entrepreneurship programmes:

 

  • 1,751 entrepreneurs through Heirs Holdings Group: Heirs Energies, Transcorp Power, Transcorp Hotels, and United Capital;
  • 1,049 entrepreneurs in partnership with the European Commission, OACPS, BMZ and GIZ;
  • 100 entrepreneurs in partnership with Sèmè City Development Agency;
  • 100 entrepreneurs in partnership with DEG, the German Development Agency;
  • 100 entrepreneurs in partnership with the IKEA FoundationUNICEF’s Generation Unlimited and the Dutch Government; and
  • 100 entrepreneurs in partnership with UNDP and the Rwandan Ministry of Youth and Arts.

 

 

Each selected Tony Elumelu Entrepreneur will receive USD 5,000 in non-refundable seed capital, access to world-class business management training on TEFConnect, one-on-one mentorship, and entry into a powerful network of investors, partners and fellow entrepreneurs.

 

In his annual letter (https://apo-opa.co/4uOFepM), “A Story of Hope,” Tony O. Elumelu, C.F.R., Founder of the Tony Elumelu Foundation, shared a powerful message to the new cohort:

 

“For a long time, I believed luck was something that simply happened to you. Then I came to understand: luck can be engineered. Opportunity can be democratised. Hope is not just a feeling — it is a system we can build.” — Tony O. Elumelu, C.F.R., Founder, Tony Elumelu Foundation — 2026 Annual Letter

 

The Tony Elumelu Foundation has empowered over 2.5 million young Africans with access to business management training on TEFConnect (https://TEFConnect.com), and disbursed over USD 100 million in seed capital to more than 24,000 selected entrepreneurs.

 

Collectively, these entrepreneurs have generated USD 4.2 billion in revenue and created more than 1.5 million direct and indirect jobs. Through its support for African entrepreneurs, TEF has lifted 2.1 million Africans above the poverty line and positively impacted more than 4 million African households, with 46% of supported entrepreneurs being African women. Eighty percent of TEF-supported businesses survive and scale, against a global average of ten to twenty percent.

 

 

The announcement ceremony was broadcast live in English (https://apo-opa.co/3PWLiML), French (https://apo-opa.co/3PWLiML), Portuguese (https://apo-opa.co/4t4Y7Da) and Arabic (https://apo-opa.co/4bYHlQl).

 

Distributed by APO Group on behalf of The Tony Elumelu Foundation.

 

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