For the past two years beginning from 2021, leading energy-industry CEOs and experts from different energy firms and allied companies came together with top-level political leaders from across the world to interact and share insights and experiences on current and emerging developments underpinning national, regional and international business undertakings in this critical sector of the global economy. Held every October in Cape Town, South Africa, this event which is known as the African Energy Week also provides great opportunities for industry stakeholders to discuss business plans, make .commercial choices, and take binding investment decisions towards the ultimate goal of realizing a more prosperous African economic future. In this article, Yange Ikyaa takes a vivid look at how the 2023 edition of this conference may build on the successes of its previous editions.
Africa’s premier annual event for the oil, gas and broader energy sector is once again set to take place in Cape Town, South Africa.
And just like the case of last year, the 2023 edition of this high profile energy summit, which is called the African Energy Week (AEW), has also been fixed for the month of October, beginning from the 16th and ending on the 20th of the month.
With everything currently in place for the summit to seamlessly hold, if the precedence which has been set by previous editions of this very important conference is anything to go by, it is now anxiously being expected that the 2023 edition of the African Energy Week will offer African and global stakeholders the chance once again to sign deals, form partnerships and make the vital decisions that will eventually transform the continent’s energy sector and wider economy for the better.
Now, as the event approaches and the countdown to October gets lower by each passing day, the organizers of this annual event, the African Energy Chamber (AEC), has not hidden its pride in announcing an early bird special discount of 20 per cent, which it offered earlier in the year for any delegate or group of delegates who will purchase their delegate passes on or before the end of March 2023.
“Don’t miss this chance to secure your place among African energy leaders and global majors,” the Chamber said in a statement, while announcing the 20 per cent special discount for prospective delegates to the 2023 edition of the African Energy Week.
Under a mandate of making energy poverty history by 2030, AEW 2023 is expected to play an important role in promoting and facilitating the development of the African energy sector.
“Building on the success of previous editions, whereby 2022 alone saw $2.5 billion worth of deals signed, AEW 2023 offers unparalleled networking and engagement opportunities, ensuring delegates are provided with the tools and connections that they need to kick-start a new era of investment and development in Africa,” said AEC in a February 2023 note.
The Chamber also maintained that, this year, even more focus is being placed on networking and dialogue, with a suite of panel, side events, investor forums and market-focused presentations laying the foundation for robust discussions on the future of African energy.
It also added that, by providing a platform for key stakeholders in the energy industry to network and share ideas, while enabling experts and policymakers to provide critical industry insight, AEW 2023 has taken the strategic organization and enhanced business value of energy conferences to the next level, and that the early bird discount on offer will provide stakeholders with the opportunities to join this high-level event at a reduced price.
As NJ Ayuk, who is the Executive Chairman of AEC, said: “The AEC is proud to offer a 20% discount on delegate passes for those purchased before the end of March. With this year’s edition promising to be even bigger and better than those that preceded it, the early bird special discount provides all interested parties the opportunity to secure their spot at the biggest gathering of energy stakeholders early.”
The AEC Chair further added that, “as energy stakeholders from across both the regional and global landscape prepare for the 2023 edition of AEW, delegates are encouraged to secure your pass before they are sold out. Join AEW 2023 and be part of the energy movement.”
While preparing to hold its third consecutive successful edition, it is also important to appreciate the substantial takeaways from the first edition, where a big case was made for gas, apart from other abundant and vital energy resources on the African continent.
This is particularly worthy of note at a time when all African nations are looking at gas as their own transition fuel into the future of energy exploitation and utilization for economic growth and prosperity. It is also of utmost necessity for Africa to benefit from its gas resources by seizing the opportunity of the European Union (EU) labelling gas as green and re-opening gas investment doors that it had previously closed, citing sustainability concerns and environmental disruptions arising from greenhouse gas enforced global warming and climate change.
It would be recalled that during the 2021 edition of AEW, which was also the inaugural edition, the Gas Exporting Countries Forum (GECF) told the gathering that “gas is the answer to Africa’s energy woes.” And this has been confirmed by the unprecedented huge gas market that has now opened up for Africa, both continentally and intercontinentally, especially as the EU is doing everything possible to shift the market away from Russia through embargoes.
“With nearly 60% of Africa’s population under the age of 25, policymakers across the continent can guarantee the future prospects of the youngest region in the world by using the affordable, cleaner, and abundant natural gas in their energy plans,” said Yury Sentyurin, who at the time was the Secretary General of the GECF.
The then representative of the 18-nation association of the world’s largest gas producers emphasized that communities in Africa deserve access to sustainable modern energy, such as natural gas, and become an integral part of the global movement to eradicate energy poverty.
The United Nations (UN) estimates that, currently, 789 million people in Africa do not have access to clean cooking fuel, and that more than 535 million are without access to electrification.
These grim figures diminish the progress made on UN Sustainable Development Goals (SDG), and certainly the SDG7 of Affordable and Clean Energy, even as the pressure on African countries is mounting to curtail investment in natural gas as part of the energy transition.
This is despite the fact that when it comes to CO2 emissions, sub-Saharan Africa is collectively responsible for barely half a percent of all global emissions. But the GECF says “it will continue to speak up for Africa for we believe that it is very much in the power of Africa- a power that rests with Africans themselves- to change the destiny of the continent by harnessing the true potential of gas and transforming itself from an energy-poor region into one that can drive the world forward.”
In its Global Gas Outlook, it was said by GECF that Africa is bestowed with numerous natural resources, including vast reserves of natural gas, and that countries in Africa account for 8 percent of global gas reserves, 6 percent of global marketed production and 7 percent of global gas exports. However, African nations account only for 4 percent of global gas consumption.
Yet, the GECF forecasts Africa to witness the highest growth rate in natural gas among all regions of the world, at nearly 150 percent up to 2050. Countries such as Senegal and Mauritania in Africa stand on the precipice of the league of gas exporters in the short-term, while Mozambique and Tanzania are expected to become natural gas exporters in the medium and long-term.
Furthermore, the GECF’s first-ever Annual Gas Market Report emphasized that Africa boasts a number of promising growth indicators, for example, in the area of power generation, in transport through natural gas vehicles (NGVs), and in innovative investments.
Valuechain findings confirmed that Africa dominates the mission of GECF to advocate for the use of natural gas to bring prosperity in disadvantaged regions of the world.
According to GECF data, there are several important reasons for its strategic position on Africa, as “six out of our 18-member countries represent this continent, accounting for more than 90% of Africa’s proven natural gas reserves. Since 2018, during my tenure, the Forum has welcomed the Republic of Angola as a newly-joined member.
“Together, these members reflect the pulse of Africa at the Forum and influence our focus that Africa rightfully deserves.”
In November 2019, this spirit was on display at the 5th GECF Summit of Heads of State and Government in Equatorial Guinea, a first-of-its-kind event in Africa, where the highest leadership of the Forum reiterated the crucial role of natural gas in Africa’s uplift. They also restated their common determination to “promote the GECF cooperation with African countries to use gas as the core source of energy in their development programmes and climate change policies, with the aim to overcome energy poverty, enhance development and to mitigate CO2 emissions”.
In order to mobilise its members’ strength to meet this most urgent issue facing Africa, in December 2020, the GECF entered into an MoU with UNESCO, with the goal of researching and developing technologies and mechanisms that will enable Africa to unlock its energy potential, while safeguarding global environmental ambitions.
And to match its words with action, the Forum’s latest initiative, the Gas Research Institute, which will pioneer innovation and technology breakthroughs in the field of natural gas, is based in Algeria. The GECF is also into further undertakings to bolster stronger partnerships with other Africa-based organizations such as AFREC, APPO, and AEC.
This is based on its firm believe that “an increase in gas consumption could trigger the economic growth in Africa, facilitate the social development of African countries, and help achieve the UN SDGs. Importantly, the gas industry’s development will mitigate energy poverty, create new jobs, and improve living standards in the region.”