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African Energy Chamber (AEC) to Host Energy Transition Forum at African Energy Week 2022

The African Energy Chamber (AEC) is pleased to announce that it will host the Energy Transition Forum, in partnership with public and private sector organizations, government representatives, energy stakeholders and investors, at Africa’s premier event for the oil and gas sector, Energy Africa Week. (AEW) (www.AECWeek.com) which will take place from 18 – 21 October 2022 in Cape Town.

The Energy Transition Forum will address critical issues such as lack of adequate funding, diversification of the energy mix, workforce development and regulatory reforms needed to enable Africa to expand its energy sector to address issues of energy security, affordability, access and sustainability.

With around 600 million people across the continent living in energy poverty and more than 900 million without access to clean cooking, Africa needs to exploit all of its vast natural resources to make energy poverty history by 2030. In this regard, stakeholders across the continent choose an integrated approach to developing energy resources where each resource is used to initiate economic growth and electrification. With more than 125.3 billion barrels of crude oil, 620 trillion cubic feet of gas and nearly 16.4 billion tons of coal, the continent is well positioned to drive economic growth.

However, global climate policies and energy transition targets have limited investment to ensure the full exploitation of the continent’s hydrocarbon resources. As a result, Africa continues to struggle with chronic energy shortages and high energy prices despite being the smallest contributor to global greenhouse gas emissions. As such, discussions at the Energy Transition Forum at AEW 2022 will be centered around Africa to develop its own energy transition roadmap that will enable the continent to scale up and attract the investment needed to diversify its energy portfolio through a mix of natural gas, renewables, oil, coal, nuclear power and new technologies such as hydrogen.

Studies conducted by think tanks such as Frost & Sullivan, IHS Markit and Rystad Energy – knowledge partner of AEW 2022 – highlight the critical role natural gas plays in diversifying Africa’s energy mix and enhancing energy security while ensuring decarbonization targets are met by 2050. However, investment is limited. in gas exploration, production and infrastructure development in gas rich countries such as Nigeria, Algeria, Egypt, Niger and Mozambique need to be addressed. To address these challenges, the Energy Transition Forum brings together investors, regulatory authorities and energy market players to discuss the role of gas in Africa’s energy future and energy transition.

In addition, climate change continues to have an impact on Africa, causing a growing number of African countries such as Nigeria, Namibia, Morocco, South Africa, Uganda, and Kenya to introduce policy reforms and initiatives to increase the penetration of renewable energy in Africa. By encouraging private sector participation, countries such as South Africa – through their Renewable Energy Integrated Power Producers program – are prioritizing energy security, decarbonization and affordability, resulting in an increase in independent power producers and renewable energy installations to improve energy access across the continent.

What’s more, Nigeria has pledged to achieve climate neutrality by 2060 by increasing the share of natural gas and renewables in its energy mix while Namibia aims to make hydrogen development a centerpiece of its energy policy. At the same time, South Africa has introduced the Hydrogen Society Roadmap to accelerate the development of local content and hydrogen infrastructure while Moroccan Law 13-09 and Egypt’s net metering scheme aim to expand distributed renewable energy development.

Inadequate investment remains a major barrier to Africa’s energy transition, and as such, the Energy Transition Forum at AEW 2022 will focus on how African countries can modernize the regulatory framework to attract the necessary funds to accelerate renewable energy development and energy production and exploitation. other. resources such as gas and hydrogen to ensure the continent is able to address energy security while meeting decarbonization goals.

“With nearly 66% of the world’s population living without access to electricity based in Africa, the continent needs to increase production of all its energy resources including gas, oil, wind and solar to ensure energy poverty is history by 2030. AEC is honored to host the Energy Transition Forum at AEW 2022 where an African narrative on a fair and inclusive energy transition that is appropriate for Africa will be developed. We will go from Cape to Cairo with a well-defined African message. Africans and the energy sector have a rare opportunity to define narratives and we must do it.” said NJ Ayuk, Executive Chair of the AEC.

Under the theme, “Exploring and Investing in Africa’s Energy Future while Promoting a Supportive Environment,” AEW 2022 will feature high-level meetings and panel discussions where government ministers, investors, academics and energy market stakeholders will discuss how Africa can attract funds to increase exploration, production and infrastructure development to ensure safe supplies while remaining a climate champion.

Distributed by APO Group on behalf of African Energy Week (AEW).

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About AEW 2022:
AEW 2022 is AEC’s annual conference, exhibition and networking event. AEW 2022 brings together African energy stakeholders with international investors and partners to drive industrial growth and development and promote Africa as an energy investment destination. Key organizations such as the Organization of African Petroleum Producers, as well as African heavyweights including Equatorial Guinea and Nigeria, have partnered with AEW, strengthening the role the event will play in Africa’s energy future.

This Press Release has been issued by APO. Content is not monitored by the Business Africa editorial team and is not content that has been vetted or validated by our editorial team, evidence readers or fact checkers. The publisher is fully responsible for the contents of this announcement.

African Energy Chamber (AEC) to Host Energy Transition Forum at African Energy Week 2022

Source link African Energy Chamber (AEC) to Host Energy Transition Forum at African Energy Week 2022

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