On 2 June 2021, OPEC, in collaboration with the African Energy Commission (AFREC), the African Petroleum Producers’ Organization (APPO), the African Refiners and Distributors Association (ARDA) and the African Energy Chamber (AEC) hosted the first OPEC-Africa Energy Dialogue to promote continent-wide cooperation initiatives
In the first installment of the OPEC-Africa Dialogue, the high-level participants addressed issues of great importance to Africa’s energy industry, such as energy poverty, energy transition and the financing of projects during the highly accelerated transition to a lower carbon future. The key points highlighted during the OPEC-Africa Dialogue included:
• Energy poverty continues to be one of the major challenges African countries face to this date, and it is expected to grow exponentially in the following years. A sudden swift to a zero-carbon future will only exacerbate such problem, leaving many Africans without access to power, consequently affecting health systems, industries, economies, and the lives of millions of Africans. On this matter, OPEC secretary general, HE Mohammad Sanusi Barkindo noted that energy stakeholders should work together to ensure an equitable distribution of energy that leaves no one behind.
• All sources of energy are required to address energy poverty and to boost African economies. Secretary general Barkindo noted that the OPEC will continue to advocate for a balanced and inclusive energy transition that promotes all energy sources and prioritises the investment needs in Africa.
• A finance plan for the continent’s energy sector is required to continue developing energy projects. Considering the recent position of major institutional and non-institutional investors, Africa needs a plan to look for other sources of funding.
The AEC is determined to help African countries implementing strategies to exploit their natural resources in a sustainable manner and to boost their energy sectors in the benefit of their population.
The AEC and our board members are strong proponents of well thought and carefully designed strategies for African countries to transition to a lower carbon future without leaving their citizens and resources behind. We are committed in assisting African public and private stakeholders in addressing the issues our industry is facing today, and we are looking forward to working closely with the OPEC in achieving these results.
