PRESS RELEASE: Market-Focused Webinar Covering the State of African Energy to be Hosted by the AEC


The African Energy Chamber (AEC) is proud to announce the launch of a market-focused webinar which will take place on Wednesday April 13, 2022, at 16:00 SAST. Aimed at providing insight into the state of play of Africa’s energy landscape, the webinar will be led by AEC Executive Chairman NJ Ayuk and will cover topics such as opportunities across the entire value chain – including upstream, midstream and downstream -; challenges faced by African energy stakeholders in 2022; Russia-Ukraine related market impacts; and natural gas as the driver of Africa’s energy future.

The global energy market is in a state of flux due to the ongoing Russia-Ukraine conflict, lack of investment in oil and gas and energy transition trends. These challenges have led to significant oil price hikes worldwide as well as in African countries such as Nigeria, South Africa, among others. In a bid to capitalize on rising prices and increase exports to global markets, countries across the continent are focused on accelerating exploration and production, with major developments such as the introduction of bid licensing rounds in Mozambique, Angola and South Sudan driving upstream activities. On the exploration front, several achievements have already been made in 2022 such as both Shell and TotalEnergies’ discoveries in Namibia earlier this year, emphasizing the frontier potential of the southern African country. Additionally, South Africa is progressing in its exploitation and exploration of its frontier basins and government hopes to see similar discoveries made to those in neighboring Namibia.

In east Africa, Uganda and Tanzania announced the final investment decision for the highly anticipated Lake Albert Development Project – comprising the Tilenga and Kingfisher upstream projects in Uganda and the construction of the East African Crude Oil Pipeline. Among other developments across the continent, this project will position Africa as a top hydrocarbon producer and major exporter. While other countries look to kickstart their own developments, significant opportunities are presented to both regional and international investors. During the webinar, the AEC will address these market changes, providing an update and offering stakeholders with the information they need to make informed decisions this month and for the rest of 2022.

What’s more, while global investment trends are redirected in an attempt to diversify gas supply chains and mitigate price hikes, Africa’s high potential gas markets stand to benefit. The continent’s gas potential is unparalleled, and major projects are already underway that have the potential to meet both Africa’s and Europe’s energy needs. Notably, Equatorial Guinea is advancing its Gas Mega Hub with a recent deal signed with Nigeria; Mozambique aims to resume operations at the large-scale Rovuma Liquefied Natural Gas project led by TotalEnergies; Senegal is making headway on the Grand Tortue Ahmeyim development; and Nigeria has stepped up as the preferred supplier to European markets with construction resumption of the Trans-Saharan Gas Pipeline.

With policies such as the Congo’s Gas Master Plan, Nigeria’s Petroleum Industry Act, and Equatorial Guinea’s Hydrocarbon Law making the continent a particularly attractive investment destination regarding gas, Africa is poised to see significant capital flows in 2022 and beyond. Accordingly, the webinar places a focus on gas, with presenters deliberating on how the continent can ensure countries are both attractive and competitive for foreign capital. Specifically, the webinar will feature insights from leading professionals in the African energy space, while making a strong case for natural gas in Africa.

Meanwhile, while continental players focus on attracting investment in key oil and gas projects, the role domestic financing institutions play has been emphasized. In this regard, energy leaders across the continent have called for the establishment of an African Energy Bank, an institution that can take on the role of financing Africa’s oil and gas projects in the wake of international divestment. In pursuit of capital raising solutions for Africa, the webinar will feature a discussion on banking policies, foreign expenditure regulations and ease of doing business in key regions across the continent. By deliberating these policies, the webinar will discuss how they impact Africa’s energy growth and what can be done to ensure increased productivity and progress.