CAPE TOWN, South Africa, February 21, 2025/APO Group/ –Earlier this week, Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi and Saudi Arabia’s Minister of Energy Abdulaziz bin Salman Al Saud signed an agreement to develop an executive plan for energy efficiency cooperation, strengthening bilateral ties in the energy sector and fostering sustainable development. This follows another significant development in September, in which Egyptian Prime Minister Mostafa Madbouly secured a $5 billion pledge from Saudi Arabia’s PIF, representing the “first phase” of a larger investment strategy.

As a leading global energy giant, Saudi Arabia has been actively investing in Africa’s energy sector, aiming to expand its energy reserves, advance energy diplomacy and compete with other global superpowers. This strategic push not only strengthens Saudi Arabia’s influence in the region, but also paves the way for deeper economic and political ties with African nations.

To date, the lion’s share of investment in Africa’s energy sector has focused on clean energy advancements. With total project costs reaching $7 billion across the continent, Saudi developer ACWA Power stands as the leading private-sector investor in African renewable energy. In October 2024, the company announced that its Redstone solar plant in South Africa was set to achieve its full 100 MW capacity, while its Kom Ombo solar PV plant in Egypt successfully reached its full capacity of 200 MW. ACWA Power is also leading Project DAO, South Africa’s largest hybrid renewable power plant, with an $800 million investment. The project is expected to come online by 2026 and aligns with the Kingdom’s broader Vision 2030 goals.

In addition to renewable energy, Saudi Arabia is diversifying its investments to secure critical minerals for clean energy technologies. In October, Saudi Arabia’s Manara Minerals, a joint venture between Ma’aden and the Public Investment Fund (PIF), entered advanced talks to acquire a minority stake in First Quantum Minerals’ Zambian copper and nickel assets. The potential investment, valued between $1.5 billion and $2 billion, underscores Saudi Arabia’s strategy to secure critical minerals that are vital for the global clean energy transition.

Turning to broader regional commitments, Saudi Arabia’s financial support for Africa’s energy infrastructure has grown. In October, the Kingdom announced a major funding initiative, pledging at least $41 billion for sub-Saharan African nations. This includes $1 billion for development, $5 billion for startups, $10 billion in financing from the Saudi Export-Import Bank and $25 billion in private sector investments over the next decade.

Meanwhile, the Saudi Ministry of Energy has established the “Empowering Africa” initiative as part of its broader commitment to supporting sustainable development across the continent. In collaboration with the Ministries of Communications and Information Technology and Health, the initiative aims to deliver clean energy, connectivity, e-health and e-learning solutions to enhance lives and promote long-term growth in Africa. Building upon the Clean Fuel Solutions for Cooking Program, it focuses on providing cleaner cooking solutions to vulnerable populations, aiming to reduce reliance on traditional biomass fuels and improve health outcomes for millions of households. Minister bin Salman Al Saud has emphasized energy as a fundamental human right and is spearheading efforts to improve access to clean cooking technologies across the continent.

Additionally, state-owned petroleum company Saudi Aramco is strengthening its partnerships with African nations to support energy investments and mobilization. These collaborations are expected to drive infrastructure development, enhance oil and gas production capacity and facilitate knowledge transfer between Saudi and African energy stakeholders, while aligning with broader energy security and sustainability goals.

In the multilateral arena, the African Energy Chamber is working with Saudi Arabia to support South Africa’s G20 energy investments and mobilization. This partnership is set to facilitate greater financing and policy coordination, ensuring Africa’s energy priorities are well-represented in global energy discussions. The upcoming African Energy Week: Invest in African Energies conference in Cape Town serves as a key platform to facilitate and support these investments, bringing together Saudi stakeholders, African governments and global energy leaders to advance new projects, strengthen partnerships and accelerate the continent’s energy transition. These collaborations are essential in addressing energy challenges, driving economic growth and fostering long-term sustainability. As Saudi investments expand – alongside those of other G20 nations – their impact on Africa’s energy landscape will only deepen.

AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event. 

PARIS, France, February 19, 2025/APO Group/ –As a leader in offshore energy, Julius Rone, CEO of UTM Offshore, is confirmed to speak at the upcoming Invest in African Energy (IAE) 2025 Forum in Paris. UTM Offshore is currently playing a pivotal role in Nigeria’s energy sector, including the development of the country’s first floating LNG (FLNG) facility, along with broader investments in Africa’s energy future.

The company’s $5 billion UTM FLNG project continues to progress, with significant milestones achieved in design, construction and timeline for production. The 2.8 MTPA facility is poised to make a substantial contribution to Nigeria’s LNG capacity, strengthening the country’s position in the global energy market. In September 2024, UTM Offshore received the license from the Nigerian Federal Government to construct the project, bringing it one step closer to making a final investment decision, which is expected in 2025.

IAE 2025 (apo-opa.co/3Qlfj69) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

The UTM FLNG facility serves as a prime example of the steps required to secure significant funding for large-scale gas projects, including diversifying funding sources, securing off-take agreements and gaining government support. According to Rone, UTM Offshore signed an MOU with the African Export-Import Bank in 2021 to raise up to $2 billion for the project. The bank has since received preliminary approval to invest $350 million, while UTM has secured contracts with JGC Corp and KBR Inc. for the facility’s design. Additionally, Vitol Group has entered into an LNG off-take agreement, and last year, UTM signed a deal with the Nigerian National Petroleum Company for it to acquire a 20% stake in the project.

UTM Offshore’s participation at IAE 2025 underscores the company’s commitment to maximizing returns on investment in Africa’s energy sector, particularly through projects like UTM FLNG that connect the global investment community to Africa’s emerging energy opportunities. As Africa becomes an increasingly important player in the global energy landscape, UTM Offshore’s initiatives represent the continent’s growing capacity to provide sustainable energy solutions while fostering collaboration with international investors and stakeholders.

BRAZZAVILLE, South Africa, February 18, 2025/APO Group/ –The inaugural Congo Energy & Investment Forum (CEIF) will feature a Hallmark Celebration of FLNG session, dedicated to acknowledging and celebrating the remarkable advancements in FLNG technology and its domestic application within the Republic of Congo.

The session is designed to underscore the nation’s progress in harnessing FLNG solutions to bolster its energy infrastructure and economy. Attendees can anticipate in-depth analyses of current projects, insights into future initiatives and evaluations of the economic and environmental impacts of FLNG utilization.

The inaugural Congo Energy and Investment Forum, set for March 24-26, 2025, in Brazzaville, under the patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société National des Pétroles du Congo, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

The Republic of Congo has made significant strides in the FLNG arena, positioning itself as a notable player in the global LNG market. In February 2024, Italian energy conglomerate Eni shipped its first LNG Cargo from its Tango FLNG unit, boasting a liquefaction capacity of 0.6 million tons per annum (MTPA). Building on this momentum, Eni launched the hull of the Nguya FLNG facility in November 2024 at Wison Heavy Industry’s shipyard in Nantong, China. This new facility is slated to add an additional 2.4 MTPA, bringing the total liquefaction capacity of the Congo LNG project to 3 MTPA by the end of 2025.

The integration of FLNG technology is anticipated to have a transformative impact on the Republic of Congo’s energy landscape. By enabling offshore gas liquefaction, FLNG units offer a flexible and efficient means to monetize natural gas resources, facilitating exports and generating revenue. Moreover, the domestic application of FLNG is expected to enhance energy security, support industrial development and contribute to the nation’s economic diversification efforts.

Sandra Jeque, Events & Project Director at CEIF event organizer Energy Capital & Power, stated, “The Hallmark Celebration of FLNG will provide a platform for stakeholders to reflect on these achievements, share best practices and explore collaborative opportunities to further advance FLNG initiatives. Participants will gain valuable insights into the technical, regulatory and financial aspects of FLNG projects, equipping them with the knowledge to navigate this dynamic sector.”