Expect bigger and better deals says AEC's NJ Ayuk in picture with Prof Benedict Oramah of Afreximbank at AEW 2022
From humble beginnings when Fair weather friends turned their backs again on Africa against the backdrop of Covid 19 in 2021, the African Energy Week (AEW) has blossomed into the continent’s premier energy event. A perfect blend of quantity and quality, the AEW weaves a mosaic of a continent that knows its challenges, conscious of its potential and unambiguous on the path that must be followed to make energy poverty history.
Birthed in 2021 by the African Energy Chamber (AEC) under the premise of making energy poverty history by 2030, the African Energy Week has morphed into an annual energy event, uniting African energy leaders, global investors, and executives from across the public and private sector for four days of intense dialogue on the future of the African energy industry. Through panel discussions, investor forums, industry summits and one-on-one meeting opportunities, the AEW plays a uniquely important role in driving discussions shaping the dynamics and trajectory of the continent’s energy fortunes.
Heading into its third year, NJ Ayuk and his dynamic team at the African Energy Chamber have built a veritable movement resolute on changing the energy fortunes of Africa. Thanks in part to the relentless advocacy of the African Energy Chamber and other key stakeholders, the world has become more keenly aware of the unique Energy challenges of Africa.
Far from begging bowl in hand, Africa has made the world see it for the potential that it represents. For a continent that is getting tired of playing defence, the AEW is a strong component of the offensive game plan that the African Energy Chamber has embarked upon in changing in ensuring that the colossal energy resources of Africa are put to ample use in meeting the development needs of the times.
The mission of making energy poverty history is one that the AEC takes on increasing gusto . In January 2023, the AEC hosted an invest in Africa energy reception in London with European, US and UK investors attending and submitting interest in Africa’s most bankable oil, gas, and power projects. The reception served to explore new avenues for financing large-scale energy projects on the continent, enhance trade and investment between Africa and Europe, and attract new players to Africa’s most promising oil, gas, and power markets to achieve continent-wide energy security.
In the course of 2023, similar events hosted by the AEC have taken place in Oslo, Norway, Frankfurt, Germany, Paris, France, and Dubai, Arab Emirates. Strengthening trade and investment ties between Africa and Europe, exploring new avenues for financing, and developing Africa’s sizable hydrocarbon, renewable and mineral resources were key at each of these stops.
President Sall’s presence at AEW resonates as a testament to the significance of this gathering, attracting influential leaders, experts and stakeholders from the global energy sector.
In addition to these, NJ Ayuk and his team at the AEC have participated at almost all the energy events in the continent from South Sudan, to Senegal, Angola, and others. The AEC has served as a partner at global events like the recent World Petroleum Congress in Calgary, Canada. The credibility of the AEC is also seen in the amount of energy related content that is routinely churned out. Uniquely educative and generously available, the AEC is also a credible source of information on multiple facets and developments in the African energy landscape.
It is this kind of painstaking hard work that makes the AEC stand out from others with questionable motives and agendas for the continent. It is this kind of track record that heightens excitement about the AEW. The genuine concern for the continent, the depth of knowledge on its realities, the unbridled passion to turn things around, and the fortitude in the face of immense odds are ingredients which have endeared both the AEC and its signature program the AEW to the minds of most Africans. Far from just another slogan, making energy poverty history is something that resonates well with most Africans.
A revolution on course is what the AEC has succeeded in creating with resounding success of the first two editions of the AEW in 2021 and 2022 respectively. The Energy fiesta that the AEW has morphed into is unique in its genre. It starts with a just Energy transition concert to welcome participants and enthused young people on the energy stakes for the continent. Back by popular demand, the music and energy concert is scheduled to take place at the scenic Cabo Beach Club on October 16.
Namibian President Hage Geingob who will deliver the opening keynote address at AEW 2023 is expected to outline his country’s vision and the dynamic growth of the oil and gas sector
“It promises to be an evening of culture, music, and meaningful conversations. As AEW emphasizes the importance of an Africa-centric approach to the energy transition, the ‘Just Energy Transition Concert’ complements this vision by fostering investment, development, and broader involvement in the energy industry,” the AEC said in a press statement. Announced for the concert are some of the best names in the African music scene now like Headlining the concert will be Some of the leading artist to headline the concert include, South African internet sensation turned amapiano star Kamo Mphela, Nigerian Afrobeat star Spyro, renowned Nigerian recording artist DJ Dollar, and others.
While Presidents Yoweri Museveni of Uganda, and Felipe Nyusi of Mozambique addressed AEW 2022 via video call, the 2023 edition is expected to have the presence and participation of Senegalese President Macky Sall, and his counterpart from Namibia Hage Geingob. President Sall's presence at AEW resonates as a testament to the significance of this gathering, attracting influential leaders, experts and stakeholders from the global energy sector. His insightful keynote address will set the tone for comprehensive discussions and transformative initiatives that will unfold during the conference, the AEC said in a statement.
"He is a champion for the energy industry. He understands Oil, Gas and Renewables. Senegal's dynamic strides within the energy industry are truly commendable. The nation has embarked on a journey of remarkable transformation. From pioneering renewable energy projects to leveraging its abundant natural gas resources, Senegal is setting a new standard for energy development in Africa. The nation's commitment to sustainable progress and a balanced energy transition is inspiring and serves as a beacon of hope for the entire continent," states NJ Ayuk, Executive Chairman of the AEC.
At the forefront of President Sall's vision lies a just energy transition, one that harnesses the potential of clean hydrocarbons such as gas for industrialization while simultaneously enhancing access to development finance across Africa. His steadfast advocacy for this balanced transition reflects the urgency of addressing the energy crisis while fostering sustainable development, says the AEC.
Hydrocarbons Minister Bruno Jean Itoua will be promoting Congolese oil and gas, African investment, and a collaborative approach to a just energy transition at AEW 23
“Senegal's energy sector stands as a shining example of transformative growth under President Sall's leadership. On the natural gas front, President Sall has championed projects that harness Senegal's hydrocarbon potential. The Greater Tortue Ahmeyim (GTA) project, with its 15 trillion cubic feet of gas resources, is a testament to Senegal's capacity to contribute significantly to global energy security, while the Yakaar-Teranga field development further bolsters Senegal's domestic energy portfolio. Both projects are making progress and are poised to position the country as a global Liquefied Natural Gas producer and exporter,” the AEC says.
In alignment with AEW's overarching theme, ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization and Free Markets,' President Geingob will articulate Namibia's vision of an energy renaissance. This vision encompasses the dynamic growth of the nation's oil and gas sector alongside its promising advances in green hydrogen development, and how these resources will create an energy secure and resilient future for southern Africa, says the AEC.
According to the AEC, President Geingob's leadership has been instrumental in driving Namibia's energy ambitions, making it a focal point for investment and innovation. Namibia, with its burgeoning energy sector, has seen recent oil discoveries that are poised to transform the nation into a significant player in the global energy landscape. The nation's strategic location along the southwestern coast of Africa has led to significant offshore discoveries, attracting substantial international investments from industry giants. Between 2022 and 2023, the country's oil and gas fields witnessed five discoveries - Venus-1X in PEL 56, made by TotalEnergies EP Namibia and its associates, and Graff-1, Jonker-1X, La Rona-1, and Lesedi-1X in PEL 39, jointly made by Shell Namibia Upstream BV and its collaborators. These discoveries have positioned the country as both an attractive investment opportunity and increasingly important oil and gas market for Africa.
In addition to these finds, the AEC says Namibia is making progress with its natural gas agenda under the leadership of President Geingob, prioritizing gas-based power generation and investment. The Kudu project is the main development in this area. This significant endeavor intends to use offshore natural gas reserves for generating electricity, enhancing Namibia's energy sources, and lessening its dependence on imported power. Investors have openings in gas infrastructure, power generation, and related projects within this sector, and with the country's recent exploratory success, this industry has exploded, promising even higher returns and opportunities for financiers and project developers.
Namibia under President Geingob has created a conducive enabling environment for energy investment, attracting major international players like ReconAfrica, Chevron, ExxonMobil, Woodside, Galp, and other industry leaders. This collaborative investment approach not only fosters economic growth but also accelerates the nation's progress towards energy security and sustainable development.
"As we look to the future of energy in Africa, Namibia stands as a shining example of what can be achieved through visionary leadership and a commitment to sustainable development. Under President Geingob's guidance, Namibia's energy sector has become a beacon of opportunity, attracting major investments, and driving innovation. The country's focus on regulatory clarity, environmental responsibility, and green energy initiatives sets a precedent for the entire continent. Namibia's journey in the energy sector is a testament to the transformative power of strategic leadership and collaboration on the path to a brighter, more energy-secure Africa where we can Make Energy Poverty History," says NJ Ayuk.
For his hard work and transformative agenda in Namibia amongst others, the AEC Board has selected Geingob to receive the 2023 Lifetime Achievement Award this October during the African Energy Week 2023 in Cape Town. The award recognizes African leaders who have taken bold steps to improve the socioeconomic development and the well-being of Africans by accelerating energy sector growth in our continent and President Geingob amply fits the description, the AEC says.
Under efforts to advance dialogue surrounding the continent’s energy future, African Elder Statesman Olusegun Obasanjo will host the Energy Growth and Just Transition Presidential Roundtable at African Energy Week (AEW) 2023. Obasanjo’s expertise regarding African economics and energy will be critical for strengthening discussions on Africa’s approach to the energy transition and his insights will help support deals and decision-making during the event. Obasanjo will also award the AEW 2023 Lifetime Achievement Award to Namibian President Hage Geingob and Senegalese President Macky Sall, while engaging with a strong slate of African and international stakeholders on the future of the continent’s energy sector.
The cast at AEW 2023 will even be more impressive than at previous editions. The leadership at OPEC has made it a point to answer present in previous editions and is expected to be present. African Petroleum Producers Organization (APPO) Secretary General Dr Omar Farouk Ibrahim is expected. At last year’s edition, Afreximbank President Dr Benedict Oramah signed an MoU with the AEC. With the African Energy Bank nearing its operational phase with Afreximbank as a one of the leading partners, the institutional led by Dr Oramah is one of the leading development and investment partners that Africa has. That he will answer present in Cape Town speaks volumes on the growing importance of the AEW.
Equally expected in Cape Town for AEW 2023 is a delegation from the U.S Department of Energy. A keynote address will be delivered by Josh Volz, Deputy Assistant Secretary for Africa, Middle East, Europe, and Eurasia at the U.S. Department of Energy who will lead a delegation comprising Julie Middleton, Director of the Office of African and Middle Eastern Affairs in the Office of International Affairs, and Sarah Dhere, International Relations Specialist.
“At a time when Africa needs substantial investment and technology to advance its energy agenda and make energy poverty history, partnership with global counterparts has emerged as more critical than ever. The US Department of Energy has long-been an important facilitator of capital, technology, and expertise by US firms in Africa and will continue to play a fundamental role in unlocking new energy opportunities across the continent,” AEC Chairman NJ Ayuk says.
According to a release from the AEC, the U.S. Department of Energy delegation will participate in several panel discussions, investor forums and networking functions centered on advancing global partnerships under a common goal of alleviating energy poverty. Closed-room discussions will take place between the Department and various African leaders including South African President Cyril Ramaphosa, Senegalese President Macky Sall, Namibian President Hage Geingob, former Nigerian President Olusegun Obasanjo and many more. With the US Department of Energy’s participation, the event will see new deals, discussions and ideas emerge.
Over a dozen Ministers in energy related disciplines will answer present in Cape Town. From the regulars like Gwede Mantashie of South Africa, to Bruno Jean Itoua of Congo, Tom Alweendo of Namibia, Nani Chrougha of Mauritania, Simon Pierre Boussim of Burkina Faso, Antonio Oburu Ondo of Equatorial Guinea, Matthew Opoku Prempeh of Ghana, Aly Seydouba Soumah of Guinea, and Yonis Ali Guedi of Djibouti and participants will have the opportunity to engage with energy authorities of their choice.
Fresh off a consequential participation at the World Petroleum Congress in Calgary, Canada, Dr Omar Farouk Ibrahim Secretary General of the Association of African Petroleum Countries, APPO, will be amongst the high-profile personalities in Cape Town. Serving his second term as APPO SG, Dr Farouk has had the merit of answering present at the AEW since the maiden edition in 2021. His vision and sustained efforts to put in place the African Energy Bank to fund Energy projects across the continent holds a lot of promise.
For an event that many gave little credence to at the onset, the AEC has defied the odds and is here to stay. There is no bigger platform or forum that encapsulates the totality of the African Energy scene the way AEW does. Both in terms of quality and quantity, the depth of the AEW is unmatched. Under the theme, ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization, and Free Markets,’ AEW aims to chart a new course for Africa’s energy landscape. AEW will serve as a platform for in-depth discussions, knowledge sharing, and networking opportunities, centered around the critical issues of energy poverty, sustainable development, industrialization, and the importance of free markets.
Josh Volz, Deputy Assistant Secretary for Africa, Middle East, Europe, and Eurasia at the U.S. Department of Energy will deliver a key note address at AEW 2023
What will make African Energy Week 2023 stand out? NJ Ayuk the Executive Chairman of the African Energy Chamber anticipates a way bigger attendance, more and bigger deals, more robust discussions, and stronger networking opportunities for the attendees through the numerous breakout sessions and side events that will grace the week.
On the way forward, there is no turning back, says NJ Ayuk. The Energy stakes are just too high and the gap between the challenges and the potentials must be bridged for Africa to meet 21st century challenges. For so long the world has short changed Africa, says Ayuk, and it was inconceivable that the very resources the west used to build its economies should be denied Africa in the face of crucial needs.
“Africa, endowed with abundant resources, must capitalize on its vast oil and gas potential,” says Ayuk, adding that, “With the collective knowledge and expertise of industry leaders, we aim to drive positive change, prioritize energy poverty eradication, promote sustainable practices, and foster a conducive environment for investment and growth.”
With Africa’s vast reserves estimated at 125.3 billion barrels of crude oil and 620 trillion cubic feet of proven gas, unlocking this immense potential becomes crucial to meet the continent’s energy demands. In a continent where 600 million people face energy poverty and over 900 million lack access to clean cooking, ensuring energy security takes center stage, says the AEC in touting the merits of the AEW.
