As Donald Trump assumes US presidency, it is significant to evaluate how the development is going to impact US-Africa energy relations
While Trump has mostly harped on advancing domestic energy production, his unabashed support for fossil fuels might influence Africa's oil and gas industry as US investors in the region benefit from his policies.
Trump's previous administration saw several developments for Africa's oil and gas industry, including ExxonMobil's US$30bn Rovuma LNG development in Mozambique, Chevron's expansion in Angola’s deepwater Block 0, Kosmos Energy's discoveries offshore Senegal and Mauritania, resulting into the Greater Tortue Ahmeyim LNG project, and Marathon Oil's continued expansion in Equatorial Guinea through the multi-phase Gas Mega Hub. A significant part of these were made possible by initiatives such as Prosper Africa, which facilitated improved trade relations between the two nations.
The new Trump regime might see increased US reach in Africa's oil and gas scene through financing mechanisms like EXIM Bank. The rising global pressure on Africa to embrace energy transition might ease as well under Trump's new energy policies.
What is there for Africa in US' new energy policies?
The new Trump regime might see increased US reach in Africa's oil and gas scene. (Image source: Energy Capital & Power)
