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.

 

Africa Oil & Power, the continent’s premier platform for energy investment and policy, and the African Energy Chamber (AEC)  have signed a strategic partnership in Johannesburg on Monday. Both organizations will be sharing capacities to facilitate investments and deal-making in Africa across their networks.

Under the agreement, the AEC will also become an official partner of the Africa Oil & Power 2018 conference taking place September 5-7, 2018 in Cape Town. As part of the partnership, the Africa Energy Chamber is extending to all its members and partners across its network an exclusive discount of 15% to attend the summit in Cape Town from September 5-7, 2018.

“As the AEC, we always encourage all our members to seek new partners and investors and expand their horizons to support their growth across the continent. We believe Africa Oil & Power is a perfect platform for them to do that,” explained NJ Ayuk, the chamber’s chairman.

As a prestigious international forum to take place in Cape Town this fall, Africa Oil & Power is an ideal place to strike business deals and meet investors. For its third edition, Africa Oil & Power has put together a prestigious program with 15 African petroleum and power ministers confirmed to date, 600 C-level delegates and 75+ speakers from across the continent, Europe, Asia and the Americas spanning the entire value chain, from upstream to power generation.

As Africa’s energy sector enters a new phase of growth and oil prices stabilize around $70, AOP and the AEC have expressed their excitement over this new collaboration which capitalizes on renewed optimism across Africa’s investment community.

Guillaume Doane, the CEO of Africa Oil & Power, said: “The vision of Africa Oil & Power and the Africa Energy Chamber are one and the same –– to combine a pro-African attitude with a pan-African influence. We are excited to have access to their extensive African energy network.”

About the African Energy Chamber

Headquartered in Johannesburg, the African Energy Chamber (AEC) is a progressive business network that promotes business and investment opportunities within the continent by connecting local corporations, foreign investors and ministerial parties. The AEC unites African interests and aspirations under one voice that advocates for Africa’s companies and citizens and gives the continent a conscience on the global energy stage. From local content development to universal electricity access, the AEC’s engagement aims at placing Africa at the forefront of global energy investment and transformations.

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MEDIA CONTACT
Mickael Vogel
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