The African Energy Chamber congratulates Angola on becoming the sixth African country to join the Gas Exporting Countries Forum (GECF), after Nigeria and Equatorial Guinea

Johannesburg – November 15th, 2018 – The GECF has been at the forefront of promoting the use of natural gas as an affordable and sustainable fuel of choice for sustainable development. African countries rallying around the drive of Equatorial Guinea’s Mines and Hydrocarbon Minister, Gabriel Mbaga Obiang Lima’s drive to monetize gas and engage with OPEC and GECF is a step in the right direction.

“Angola has vast untapped gas reserves that have not yet been monetized.” said AEC Executive Chairman NJ Ayuk. “Joining the GECF is a step in the right direction and in line with H.E. President João Lourenço blueprint for transformation, growth and boosting economic diversification by the monetization gas.”

Angola’s focus on gas is being backed by new legislation promoting the monetization of the country’s gas reserves. In May 2018, Angola passed Presidential Decree No. 7/18 (PD 7/18), indicating President Lourenço strong commitment to reform the country’s hydrocarbons sector and provide a boost to the gas industry. Presidential Decree No. 7/18 is the first law aimed at specifically regulating the prospection, research, evaluation, development, production and sale of natural gas in Angola.

“The Chamber welcomes the reforms in Angola and its commitment towards diversification and a market driven local content. This requires that government provides the necessary infrastructure and incentives that will enhance the productivity of labor and capital in the economy.” Ayuk continued. “The private sector has a role to play and there must be a change in its mindset, from commerce to industry”

The Chamber (EnergyChamber.org) welcomes these developments and salutes Angola on its efforts towards reforming its gas industry and deepening its engagement with international gas markets through Gas Exporting Countries Forum.

The Chamber and its members look forward to joining Angola’s leadership at the Angola Oil & Gas 2019 Conference & Exhibition to be held June 3-7, 2019 in Luanda under the patronage of H.E. President João Lourenço.

 

Dakar, September 14, 2018 – Senegal is determined to become the new frontrunner of Africa’s local content development. This is the conclusion of a local content forum held in Dakar on Thursday, organized by Les Conférences du Quotidien and hosted by the African Energy Chamber and Centurion.

Presided by Prime Minister Mahammed Boun Abdallah Dionne, the forum highlighted the potential for Senegal to redefine African standards for domestic capacity building and governance in the continent’s hydrocarbons sector. “Local content is a necessity,” declared the Senegalese Prime Minister during the event. “Encouraging the development of local SMEs throughout the value chain is of prime importance, as is the formation and training of Senegalese to boost national capacity and employability.”

The history of Senegal’s hydrocarbons sector is that of a toddler stepping into a giant’s shoe. The discovered gas reserves in the Turtle field alone are such that they could propel Senegal into a major LNG hub for Africa and the rest of the world. But for a country which has so far produced only limited gas quantity from onshore fields, taking such a big leap is not without its fears and challenges.

As Senegal expands its oil and gas exploration and development efforts, putting in place the right regulatory and governance frameworks will ensure the sustainability and social responsibility of its nascent hydrocarbons industry. The time to forge these is now, and a local content development framework must be the priority.

The development of robust and transparent regulations, which put local capacity building at the heart of policy-making, would provide Senegal with a very efficient framework to attract investments and boost local socio-economic development. “By being the latest entrant into Africa’s hydrocarbons history, Senegal has the opportunity to learn from the successes and failures of its neighbors,” explained NJ Ayuk, executive chairman of the African Energy Chamber and CEO of Centurion. “Local content is not corporate social responsibility. While the government must create an enabling environment, it is up to Senegalese people and companies to seize the opportunities offered by the country’s nascent oil & gas industry.”


As it embarks on this journey, Senegal has assets and qualities to build on. It has lessons to draw from its neighbors and African peers, and very strong institutions that can increase the chances of avoiding inefficiencies and corruption witnessed in other African jurisdictions. It is also a very stable country, whose economy has posted robust growth rates for years, and currently led by a President who understands the industry and is a former head of the country’s national oil company.

If its economy remains diversified and its oil wealth is used to further develop social infrastructure and support other growing industries, Senegal stands a great chance to be one of Africa’s best oil and gas economies.

 

 

 The African Energy Chamber (AEC), which has been advocating for upstream producers, service providers, downstream suppliers, and governmental bodies throughout the continent, has been formally established.

Backed by executives from across the continents oil and gas, power, and renewables industries, the AEC is the Continent’s voice for the ongoing change and progression in the African energy industry. From the robust regulatory reforms of Angola and the interest of Congo-Brazzaville in OPEC, to the impressive local content strides taken by South Sudan, the AEC firmly stands with the re-emergence of Africa’s energy industry.

The AEC initiative comes as the advancements in Africa’s energy sector, and its revamped development agenda, are at the center of international investors’ interests. Africa is continuously proving itself to be capable of developing large scale progressive energy initiatives, such as Equatorial Guinea’s recent plan to construct a natural gas mega-hub. Over the past 12 months alone, Mozambique saw a final investment decision on a $7bn LNG development program, Cameroon became the first African country to bring a floating LNG platform on stream, Uganda gave the green light to lay the world’s longest electrically-heated crude oil pipeline, Nigeria is taking significant strides to rebalance its crude refining capabilities, and Burkina Faso commissioned one of the world’s largest hybrid fuel/solar power plant.

“Africa is a fast-growing energy powerhouse,” NJ Ayuk, CEO of the Centurion Law Group, one of the AEC founding members, said. “New oil frontiers are opening up in West Africa, investment in gas infrastructure is picking up in West and East Africa, while landmark reforms are expecting to transform the way natural resources are being exploited in markets such as Nigeria and South Africa. There truly has never been a better time to do business in Africa.”

In promoting such opportunities within a pan- and pro-Africa institution, the AEC advocates for the growth and expansion of indigenous African companies across the continent. From personnel training to community partnerships and relationship building, the AEC is a unique home for African companies to grow and take the lead in the development of their continent. The Energy Chamber equally focuses on promoting sensible local content, pushing for EITI, mutually beneficial joint ventures, transfer of technologies, and advocating for an enabling environment for business growth.

As African nations revise their regulatory frameworks, such as the recent hydrocarbons regulations in Nigeria, Gabon, and Congo, the AEC works to provide access to a unique pool of policy makers and seasoned experts to engage into a meaningful dialogue with industry stakeholders to shape policy. The AEC’s also services international companies seeking to invest or expand in Africa by providing them with inside-track information and contacts to ensure successful partnerships and market penetration and expansion strategies.