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Energy Demand to Double by 2050, Says Angola Oil & Gas (AOG) 2024 Ministerial Panel

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A Ministerial Panel at the Angola Oil & Gas 2024 conference drew attention to the challenges and opportunities regarding regional petroleum trade in Africa

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

Energy demand is projected to increase two-fold by 2050, a Ministerial Panel at the Angola Oil & Gas conference – sponsored by SLB – underscored. The panel noted that this is largely due to a rise in population growth as well as increased economic activity across developing countries. 

Delivering a keynote ahead of the Ministerial Panel, Mohamed Hamel, Secretary General of the Gas Exporting Countries Forum (GECF), highlighted the potential natural gas offers for addressing this demand. Countries such as Angola – which has been producing gas for several years – are well positioned to leverage partnerships with regional neighbors to enhance petroleum trade, while collaborating with partners on new projects.   

“The GECF projects that natural gas demand will increase 36% by 2050. It is the fastest growing [type of] energy after renewables. Energy demand is projected to more than double by 2050 while primary energy consumption is projected to increase 20% by 2050. We call on African institutions to lead in African gas development,” stated Hamel.  

The GECF projects that natural gas demand will increase 36% by 2050

As demand continues to rise, Africa will face a significant challenge – accessing the requisite capital to bring new production online. The African Petroleum Producers Organization (APPO) – in collaboration with the African Export-Import Bank – has devised a solution to enhance capital availability for African energy projects: the African Energy Bank.  

“We need one more member country to sign the ratification agreement before its finalized. In terms of establishment, we have already achieved this. In July, we selected the headquarters for the bank: Nigeria. The last challenge was raising the funds. I am pleased to say that even before we signed the establishment agreement, we were able to raise 45% of what we needed for capital for the bank. I want to thank Angola for being part of that,” stated Dr. Omar Farouk Ibrahim, APPO Secretary General.  

For both emerging and mature producers in Africa, the launch of the African Energy Bank offers a strategic opportunity to advance oil and gas projects and meet rising demand. According to Diamantino Azevedo, Minister of Mineral Resources and Petroleum of Angola, “This is a business moment. We have to start being more independent. Economic relations between African countries needs to be prioritized. There is a great opportunity for us to create business prospects and drive projects with our neighbors.” 

For up-and-coming producers such as the Democratic Republic of Congo (DRC) and Namibia – both of which are seeking investment to accelerate exploration – lessons learnt from Angola will support project development.  

Aimé Molendo Sakombi, Minister of Hydrocarbons of the DRC, said that “It is good to be in Angola, a pioneer in hydrocarbons. We are here to learn. Today we signed a treaty for the governance, production and exploration of Block 14. We are making it more operational and are waiting for the ratification. This will follow the approval of the two heads of states. Chevron will be the technical leader and will provide a timeline of production.”  

Similarly, Namibia aims to leverage its partnership with Angola to support oilfield development, strengthen its logistics sector while developing local capacity. Kornelia Shilunga, Deputy Minister, Ministry of Mines and Energy of Namibia, said that “We are the frontiers. Oil and gas is a new sector for us as Namibia but we are committed to collaborating. Since the discoveries in the Orange Basin, we have embarked upon a learning exercise, learning from others that have come before us and from experts in the industry. We have made various visits to such countries, including Angola.”  

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

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

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October 4, 2024

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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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Chevron to Increase Gas Supplies to Angola LNG

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October 4, 2024

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Chevron announced plans to supply 600 million cubic feet of gas per day to the Angola LNG facility by year-end at the Angola Oil & Gas conference on Wednesday

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

Energy supermajor Chevron will supply 600 million standard cubic feet of gas per day to the Angola LNG (ALNG) facility by the end of the year. This comes as the Sanha-Lean Gas Connection (SLGC) Project – developed by Chevron’s local subsidiary and set to deliver lean gas to the ALNG onshore plant – prepares for first production by Q4 2024. 

When you talk about energy security, [gas] is one of the key enablers

The announcement was made by Chevron’s Managing Director of the Southern Africa Strategic Business Unit Billy Lacobie during an “In Conversation with” session at the Angola Oil & Gas conference in Luanda on Wednesday.  

“It’s very exciting as you go forward and look at the immense opportunities when you go into gas,” said Lacobie. “When you talk about energy security, [gas] is one of the key enablers.”  

According to Lacobie, Chevron’s gas production increase will be driven by the installation and tie-in of the SLGC Project to the existing Sanha Condensate Complex, which features pipelines connecting Chevron-operated Blocks 0 and 14 to ALNG. 

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

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Sonangol, Conjuncta, CWP, Gauff Sign Green Hydrogen Deal at Angola Oil & Gas (AOG) 2024

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October 4, 2024

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The preliminary agreement covers the development of the Barra do Dande Green Hydrogen Project

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

Angola’s national oil company Sonangol signed an agreement with energy companies Conjuncta, CWP and Gauff for the development of the Barra do Dande green hydrogen project in Angola. Signed during the Angola Oil & Gas conference on Wednesday, the deal covers the design, licensing, financing, engineering and construction of the facility.  

Situated in the municipality of Barra do Dande, the green hydrogen project will produce up to 1,200 tons of ammonia for export to the European market. The facility will feature the installation of 600 MW of renewable energy capacity – generated from hydropower sources – as well as a 400kv substation and adequate water treatment.  

The deal was signed by Orlando da Mata, President of the Board of Directors of the Sonangol Research and Development Center; Vladimir Machado, President of the Executive Committee of the Sonangol Research and Development Center; Michael Scholey, CEO of CWP; Stefan Tavares Bollow, CEO of Gauff; and Julian Reichert on behalf of Conjuncta CEO Stefan Liebing.  

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

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