21.5 C
Friday, June 21, 2024

Invest in Africa Energy 2024 to showcase Southern Africa’s energy market growth

Invest in Africa Energy 2024 to showcase Southern Africa’s energy market growth

A dedicated roundtable at the upcoming Invest in Africa Energy (IAE) 2024 forum in Paris will shine a spotlight on Southern Africa.

The focus is South Africa, Mozambique, and Namibia.

The region boasts new discoveries in the oil and gas sector, abundant renewable resources, and promising potential for hydrogen prospects. This makes it an attractive destination for investors keen on leveraging these resources for capital growth.

During the two-day forum, delegates will gain insights into Southern Africa’s status as a frontier market with first-mover advantages. From South Africa’s mineral-rich terrain to Zambia’s hydroelectric potential, Mozambique’s liquefied natural gas (LNG) prospects and Namibia’s untapped offshore reserves, the region offers diverse opportunities poised to fuel development.

READ ALSO: Ghana puts up oil and gas blocks for sale

Organized by Energy Capital & Power, IAE 2024 is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 14-15, 2024 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers.

Panelists include Godfrey Moagi, Chief Executive Officer, SANPC; Antoine Berel, Vice President Sub-Saharan Africa (South), Halliburton; Calib Cassim CFO Eskom, Paul Eardley-Taylor, Oil and Gas Coverage Southern Africa, Standard Bank and Dr. Sama Bilbao y León, Director General, World Nuclear Association. The session will be moderated by Olivier Barbeau, Managing Partner, Moore South Africa.

Namibia’s recent deepwater discoveries, including Graff-1X, Venus-1X, La Rona-1X, Jonker-1X, Lesedi-1X, Mopane-1X & 2X, Mangetti-1X, and its most recent Enigma-1X, have intensified exploration activities within the Orange Basin. Although significant potential exists, substantial investment is need to fully develop these resources for commercialization. Recently, Namibia’s Minister of Finance announced that by the end of 2024, Namibia anticipates a final investment decision from multinational energy companies, TotalEnergies for its Venus-1X discovery and Shell for its Graff-1X discovery. This is a step towards accelerating oil production, set for 2029.

READ ALSO: Jacob Flewelling to spearhead investment dialogue at Angola Oil & Gas 2024

With two major LNG projects underway — TotalEnergies’ Mozambique LNG and ExxonMobil’s Rovuma LNG — Mozambique has solidified its position as a key player in both the Southern African and global gas markets. Moreover, Mozambique made significant strides by exporting its inaugural LNG cargo to Europe in 2022, facilitated by Eni’s Coral Sul floating LNG facility. With robust trade agreements in place and a growing capacity, Mozambique presents a dependable and burgeoning gas market. With over 100 trillion cubic feet of proven reserves, the nation offers ample opportunities for gas exploration, production, transportation, storage, and utilization projects.

Meanwhile, South Africa’s Renewable Independent Power Producer Programme (REIPPP) is expanding renewable energy capacity. Bid Window 7, launched in January 2024, aims to acquire 3.2 GW of onshore wind and 1.8 GW of solar photovoltaic projects. Integration into the grid will address power deficits and boost energy security. Private sector developers can seize this opportunity, secure contracts, and establish themselves in South Africa’s growing renewable energy market.

Related Articles


Please enter your comment!
Please enter your name here

Stay Connected

- Advertisement -spot_img

Latest Articles