By NJ Ayuk
Africa represents the final frontier when it comes to energy. The continent has over 125 billion barrels of proven oil reserves and 620 trillion cubic feet of natural gas, as well as abundant solar, wind and hydropower resources. Market-focused policies and attractive fiscals also support high returns for investors, and at a time when the international community is clamoring for energy supplies, I say to them: Invest, Baby, Invest.
Africa’s energy wealth is only growing, and European investors have a central role to play in maximizing resources. This is why Energy Capital & Power (ECP) is organizing the upcoming Invest in African Energy (IAE) forum, taking place in Paris from May 14-15, 2024. The event serves as a bridge between Europe and Africa, connecting movers and shakers from the respective continents to foster collaboration and drive investment into African energy.
It is with immense pride that on behalf of the African Energy Chamber – the voice of the African energy sector – I issue my full endorsement and support of this critical forum. IAE 2024 offers a strategic opportunity for leaders to meet, companies to collaborate, and progress to be made. The forum features an exciting lineup of speakers, with global energy companies and investors connecting with African energy ministers and NOC heads to kickstart a new era of energy-led prosperity in Africa. If you’re interested in investing in Africa, this is the forum to do it.
IAE 2024 builds on the success of the inaugural 2023 edition to spearhead new deals and discussions. Underpinned by decades-long ties between France and Africa, the forum examines how renewed collaboration can drive further progress across the industry, alleviate energy poverty and achieve energy security worldwide. Targeting new project developments across upstream exploration, liquefied natural gas (LNG), gas-to-power, renewables, finance, green hydrogen and infrastructure, the forum promotes engagement between European companies and Africa across all aspects of the energy value chain.
For decades, France has played an instrumental role in the development of Africa’s energy industry, yet much more needs to be done to unlock the full potential of Africa’s resources. French companies such as TotalEnergies represent some of Africa’s biggest project developers; Perenco represents a major employer and infrastructure developer, particularly in Central Africa; while SLB and Technip Energies serve as the industry’s leading service providers. These companies are responsible for opening up new basins and contributing to the establishment of regional energy hubs. TotalEnergies, for example, is driving the Lake Albert Development in Uganda; made a sizable oil discovery in Namibia in 2022, opening up the offshore Orange Basin; and is developing the transformative Mozambique LNG project. Technip Energies is working on the Greater Tortue Ahemyim project in Senegal/Mauritania, as well as projects in Angola, Nigeria, Egypt, Equatorial Guinea and more.
We believe that IAE 2024 is an unparalleled opportunity to unite the industry and get it focused on African investments. It is not enough to simply talk about investments – we must take tangible actions as an industry to fulfill commitments and get major projects off the ground. At the Chamber, we believe that it is the right time to go on a strong investment drive. The Chamber has led this drive well, and we see this event not only as an opportunity to promote investment, but to partner with ECP and international stakeholders to create a more balanced dialogue.
I will be participating in this important forum and I encourage all members of the AEC and associated countries to support, speak and sponsor. This conference brings European investors and African governments together, and through our work with Afreximbank, we hope to sign a few deals. We need to go beyond idle dialogue and invest in a future to be proud of. We need to go hard on investment.
Join IAE 2024 and invest in African energy’s future. See you in Paris.
