With recent sanctions on Russia by western nations threatening the critical supply of Russian gas to European markets, an opportunity has emerged for African gas producers to step up, enhancing hydrocarbon production and exports to meet international supply gaps
In an exclusive interview with the Africa Energy Chamber (AEC), HE Gabriel Mbaga Obiang Lima, Equatorial Guinea’s minister of mines and hydrocarbons, said, “Infrastructure is going to be critical. Investors in Europe may be selling solutions to be able to put as many terminals as possible, which will allow us to export gas to them. That is what we need in order to be competitive in gas.”
“The ongoing European energy trilemma and challenges provides a golden opportunity for African gas producers to develop a robust, bankable gas strategy to cater for motherland Africa and our European friends energy demand,” stated Abdur-Rasheed Tunde Omidiya, president of the AEC Nigeria and West Africa.
Other African producers such as Algeria and Niger, who together with Nigeria, recently signed the Declaration of Niamey during the Economic Communities of West African States (ECOWAS) Mining and Petroleum Forum (ECOMOF) – paving the way for the construction of the multi-billion, 4,128 km Trans-Saharan Gas Pipeline, which will run through the three countries into Europe – now have an opportunity to attract funding for the project rollout and expand their production and exportation capabilities to Europe. Once completed, the pipeline is expected to transport 30 billion cubic meters of gas per annum which Europe will desperately need to meet demand.
AEC’s annual summit African Energy Week (AEW) set to take place from 18-21 October 2022, will unite investors, regulatory authorities, oil and gas companies and oil and gas industry players under one roof in Cape Town, South Africa to discuss best practices and for signing of deals.
