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Southern Africa’s Frontier Energy Developments to be Unpacked at Invest in African Energy (IAE) 2024

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Energy

European investors will access projects across LNG, gas-to-power, energy storage and green hydrogen – and associated first-mover advantages in the region – at Invest in African Energy 2024 in Paris

PARIS, France, December 8, 2023/APO Group/ — 

Frontier developments in the southern African region will be on display at the upcoming Invest in African Energy (IAE) 2024 forum in Paris, connecting European investors with Africa’s leading projects. The region is home to several new and emerging energy markets — namely, Mozambique, South Africa and Namibia – which offer first-mover advantages and access to transformative projects. These developments will be unpacked in further detail – and interested parties connected with the relevant project stakeholders – at the upcoming IAE 2024 in Paris next May.  

Mozambique

Mozambique has established itself as a major regional gas hub after exporting its first Liquefied Natural Gas (LNG) shipment in November 2022 under a long-term purchase and sale contract with bp. The country’s natural gas reserves are among the largest in sub-Saharan Africa and have the capacity to ease Europe’s energy supply crunch. In addition to first production from the Coral Sul Floating LNG development, Mozambique has two other large-scale projects underway – ExxonMobil’s Rovuma LNG and TotalEnergies’ Mozambique LNG – which expect first gas in 2027 and 2028, respectively. Both projects offer myriad opportunities for contracting and procurement and could stimulate new gas trade deals between Mozambique and European partners.

To ensure that gas utilization goes beyond crude gas exports, Mozambique is also implementing gas-to-power infrastructure projects to meet regional energy demand. The planned Mozambique (Cabo Delgado) to South Africa (Richard’s Bay) Gas Pipeline will supply natural gas from the Rovuma Basin to South Africa, reducing the latter’s reliance on coal-fired power generation. The Nacala LNG-to-Powership project is another key power project underway, representing the first LNG-to-power solution and floating storage regasification unit in eastern and southern Africa. Accordingly, the sector is ripe with opportunity for European investors, project developers and technology providers when it comes to grid innovation and alternative power solutions.

The region is home to several new and emerging energy markets—namely, Mozambique, South Africa and Namibia–which offer first-mover advantages and access to transformative projects

South Africa

South Africa represents a highly prospective oil and gas market, with 15 projects in the pipeline between 2023 and 2027, aimed at exploiting the country’s estimated 27 billion barrels of crude oil and 60 trillion cubic feet of natural gas. Several projects target energy storage in particular – which South Africa urgently needs to achieve a more stable energy supply – such as the 94,000-barrel Richards Bay III Oil Storage and 189,000-barrel Nelspruit Oil Storage facilities. Energy storage represents an attractive opportunity for investors, as it protects against inflation, leverages sustainable energy infrastructure and has the potential to generate significant returns in a relatively short period of time compared to traditional infrastructure. 

Several field developments are also underway, providing opportunities for drilling companies and subcontractors. The Amersfoort Field Development is set to drill 20 wells in the region, coupled with the construction of the Amersfoort gas-to-power project that uses the gas produced to power a containerized generator that will be integrated with the national grid from 2024. The Virginia Phase 2 project is another strategic integrated project set to produce commercial quantities of LNG and liquid helium for global export, while the Port of Ngqura FLNG project will involve the installation of a floating storage and regasification unit, gas-to-power infrastructure, cryogenic pipelines and terminal for the processing, storing, on-site exploitation and distribution of gas acquired from the country’s on– and offshore fields.

Namibia

A rapid succession of five major oil discoveries in the offshore Orange Basin has catapulted Namibia to the global exploration spotlight and attracted the attention of major operators. Ongoing and planned drilling activities in 2024 include a 10-well exploration and appraisal program from Shell in PEL 39, a four-well appraisal and exploration program from TotalEnergies in Blocks 2913B and 2912, a two-well campaign from Galp Energy in PEL 83 and a 12-well exploration and appraisal program from ReconAfrica in PEL 73. With a flurry of upstream activity, Namibia offers associated opportunities for drilling, EPC and other technical contractors.

In addition to being one of Africa’s leading oil and gas frontiers, Namibia has emerged as an upcoming green hydrogen hub. The country is commissioning sub-Saharan Africa’s largest green hydrogen production plant, led by Hyphen Hydrogen Energy and capable of producing 300,000 tons of green hydrogen and/or ammonia. The development will also feature wind and solar plants with a combined capacity of 7 GW. Given Europe’s interest in supporting clean energy solutions in Africa, green hydrogen is a highly prospective opportunity for European investors to engage with in Namibia. 

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

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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