African markets

AEC to generate dialogue at EuraAfrican Forum – African Markets

The African Energy Chamber (AEC) will boost the dialogue on energy transition, climate change and digitalisation, during the EuraAfricain Forum, through its Executive Chairman who will participate in a session on energy transition, climate change and digital transformation in Europe and Africa’s energy scenarios.

AEC, is the voice of the African energy sector and its Executive Chairman, NJ Ayuk, will participate in the upcoming EuraAfrica Forum 2022, which will take place from July 28 to 29 in Portugal.

The EuraAfrican Forum

Organized by the non-profit organization, World Portuguese Network: Portuguese Diaspora Council, this year’s EuraAfrican Forum is held under the theme “Strengthening the EU-Africa Alliance in Times of Disruption”.

Now in its 5th edition, the annual summit aims to promote closer collaboration between Europe and Africa for green and inclusive growth, by uncovering new opportunities for social and commercial impact investment.

Notable speakers will include, HE Marcelo Rebelo de Sousa, President of the Portuguese Republic; HE José Maria Neves, President of the Republic of Cape Verde; HE Carlos Vila Nova, President of São Tomé and Príncipe; António Costa, Prime Minister of Portugal.

They always participate; Benedict Okechukwu Oramah, Chairman of the Board of Afreximbank; and Celso Ismael Correia, Minister of Agriculture and Rural Development of Mozambique; among other notable African and European dignitaries and ministers.

With factors such as the COVID-19 pandemic, tensions between Russia and Ukraine, climate change and the energy transition disrupting the energy sectors in Europe and Africa, the Summit will discuss solutions for digital and political investment to these challenges.

Proposals

The participation of Ayuk, the President of the ACS, in the EuraAfrica Forum will be instrumental in shaping the discussion on how increased cooperation between Africa and Europe can help both blocs achieve energy security while addressing the impending climate crisis and the challenges of the energy transition.

Furthermore, the Forum will enable African markets to champion development and investment in the African energy sector ahead of the upcoming Africa Energy Week 2022 in Cape Town and COP 27 in Egypt.

In a panel discussion entitled: Energy Transition, Climate Change and Digital Transformation, the ACS President will highlight the role of African oil and gas in accelerating the diversification of the continent’s energy mix for socio-economic benefits , considering environmental sustainability and energy decarbonization. .

As the international community urges Africa to abandon the exploitation of its 125.3 billion barrels of crude oil and 620 trillion cubic feet of gas, ACS President Ayuk will discuss the central role of improving Africa-EU energy cooperation to ensure maximum sustainable production and exploitation of hydrocarbons to boost the continent’s electrification efforts.

We must not forget that 600 million people across the African continent live in energy poverty and 900 million do not have access to clean cooking, which is a contradiction in terms of energy production on the continent.

The ACS President will also discuss how modern and clean technologies such as carbon capture, storage and utilization can enable Africa to optimize the environmental sustainability of its hydrocarbon sector.

Although the growth of the oil and gas sector in Africa is negatively affected by global policies related to the energy transition that prevent foreign direct investment in foreign market regions, the various countries continue to optimize the hydrocarbon markets to supply their individual savings.

In this regard, the ACS President will share his insights on the role of European knowledge, technology and investment in enabling Africa to achieve a just and inclusive energy transition that will drive economic growth and social justice.

The paradigm shift

While European companies and governments, including TotalEnergies, bp, Shell and Technip Energies, continue to play a vital role in increasing the potential of the hydrocarbon market in Africa, there is still much to be done to accelerate the development of projects. and infrastructure deployment. upstream, middle and downstream.

These sectors are essential to enable Africa to achieve energy independence while maximizing monetization and trade with Europe. In this sense, with the expansion of the energy crisis in Europe, Africa is well placed to help the bloc meet its energy needs.

According to the ACS President, this is demonstrated by the fact that the continent has become Europe’s second largest supplier of gas over the last decade – with increased help from European parties to accelerate the development of projects such as the Trans-Saharan Gas Pipeline or Nigeria’s 7. Train,

At the EuraAfrica Forum 2022, the ACS President will share his views on how Africa and Europe can enhance energy cooperation and seize opportunities related to the energy transition, including energy development and trade. green hydrogen to solve the problems of reliability, accessibility and access to energy.

Besides topics such as energy poverty, just energy transition and climate change, the ACS President will discuss the need for greater exploitation of hydrocarbons to mitigate shocks in African and European economies resulting from geopolitical trends. world.

What do you think of this forum? Can the AEC President really make a difference? We want to know your opinion, do not hesitate to comment and if you liked the article, share and give a “like/like”.

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Picture: © 2022 DR

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