<\/p>\n
An insightful panel discussion during the second day of the MSGBC Oil, Gas & Power 2023 conference and exhibition, sponsored by national industrial and mining company, the Soci\u00e9t\u00e9 national industrielle et mini\u00e9re, featured the participation of regional and international energy leaders and explored the role of natural gas in the global energy landscape. The panelists examined changing market dynamics as a result of the global energy transition, sustainability initiatives, and technological innovations in the sector.<\/p>\n<\/p>\n
Presenting an attractive option for stabilizing the path towards renewable energy development while reducing carbon emissions in the short term, the role of natural gas in Africa has the potential to drive electrification, socioeconomic development, and resource monetization on the continent. As such, the panelists noted that the share of natural gas in the global energy mix is poised to increase to 26% by 2050.<\/p>\n<\/p>\n
\u201cThe role of gas is huge and has a very bright future,\u201d stated Rafik Amara, Senior Gas Analyst for the Gas Exporting Countries Forum, adding, \u201cWe are seeing that natural gas will overcome coal in the energy mix in the next three-to-four years and will be the most-used fuel from 2040 onwards. Natural gas is the only approach to achieving energy market stability.\u201d<\/p>\n<\/p>\n
Estimated to contain more than 100 trillion cubic feet (tcf) of natural gas, the MSGBC region is well-positioned to leverage its immense endowment of natural resources to attract foreign investors while promoting regional collaboration and integration. What\u2019s more, the panelists noted the importance of regional gas-to-power development and LNG export as a model to ensure and develop consistent economic development.<\/p>\n<\/p>\n
\u201cWe have energy, but the question is how to develop it. To develop this 100 tcf, we will need innovative development schemes and we have to have aligned objectives with partners, including with National Oil Companies,\u201d stated Ismail Mohamed Sid Ahmed, Vice President and Mauritania Country Manager for upstream oil company, Kosmos Energy, adding, \u201cThis duality between gas-to-power and LNG export is a model we see that will develop a cash flow and part if it has to be reinvested into coming projects.\u201d<\/p>\n<\/p>\n
It is estimated that natural gas will be responsible for approximately 30% of Africa\u2019s total energy demand increase by 2050. As such, the panelists highlighted the significant discoveries in the MSGBC region \u2013 including the 13-tcf BirAllah Conventional Gas Development, the 15-tcf Grand Tortue Ahemyim gas field, and the 20-tcf Yakaar Teranga Conventional Gas Development \u2013 as imperative towards driving electrification, industrial development, and the energy transition in West Africa.<\/p>\n<\/p>\n
\u201cWe see innovation as a catalyst,\u201d stated Pierre-Edouard Crouzier, Project Manager at engineering and technology company, Technip Energies, adding, \u201cThis is what enables us to deliver projects with requirements that have been spelled out during our discussions here today.\u201d<\/p>\n<\/p>\n
It was noted that significant upstream investment and long-term contracts will be required to realize the potential of natural gas in the region. Speaking for the Islamic Republic of Mauritania\u2019s Ministry of Petroleum, Mines and Energy, Khroumbaly Lehbib, Advisor for Hydrocarbons for the ministry highlighted the government\u2019s role in developing a favorable investment environment for International Oil Companies to participate in the MSGBC region\u2019s energy space.<\/p>\n<\/p>\n
\u201cThe government\u2019s role is to create a stable legal and regulatory regime to partner with capable national and international companies who can deliver on their commitment,\u201d Lehbib stated, adding, \u201cWe have good quality partners in the energy and oil and gas sectors, and we hope that in the next ten years, MSGBC can become one of the biggest global players in the oil and natural gas markets.\u201d<\/p>\n<\/p>\n
With targets to ensure universal access to electricity and the need to develop less-carbon intensive energy resources, the panel showcased the enhancement and expansion of infrastructure as a requisite to stimulate domestic gas demand in West Africa. Furthermore, it was noted that reliable gas has the potential to provide quick access to energy for the 600 million Africans currently living without adequate access to electricity.<\/p>\n<\/p>\n
\u201cThe more we advance in the efficiency of gas turbines, the more we lean towards gas-focused solutions,\u201d stated Ousmane Ndoye, Managing Director for Senegal at global energy company, GE Vernova, adding, \u201cGas is a key differentiator for the region today. It allows for rapid growth, thanks to quick access to electricity and it is also a reliable and sustainable transitional energy.\u201d<\/p>\n<\/p>\n
Distributed by APO Group on behalf of Energy Capital & Power.<\/i><\/p>\n
Source<\/a> An insightful panel discussion during the second day of the MSGBC Oil, Gas & Power 2023 conference and exhibition, sponsored by national industrial and mining company, the Soci\u00e9t\u00e9 national industrielle et mini\u00e9re, featured the participation of regional and international energy leaders and explored the role of natural gas in the global energy landscape. The panelists […]<\/p>\n","protected":false},"author":11,"featured_media":162054,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/energycapitalandpower.africa-newsroom.com\/files\/large\/bc97bda5e3bfa79","fifu_image_alt":"","footnotes":""},"categories":[4262],"tags":[258,256,4263,11294,5760,7168,20883,37891,8499,257,32682,254],"class_list":["post-162053","post","type-post","status-publish","format-standard","has-post-thumbnail","category-angola","tag-africa","tag-africa-news","tag-angola-news","tag-changing","tag-future","tag-gas","tag-landscape","tag-msgbc","tag-natural","tag-news","tag-rapidly","tag-south-africa-today"],"fifu_image_url":"https:\/\/energycapitalandpower.africa-newsroom.com\/files\/large\/bc97bda5e3bfa79","_links":{"self":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/posts\/162053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/comments?post=162053"}],"version-history":[{"count":0,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/posts\/162053\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/media\/162054"}],"wp:attachment":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/media?parent=162053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/categories?post=162053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/tags?post=162053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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South Africa Today Africa \u2013 Southern Africa Angola<\/a> News<\/p>\n","protected":false},"excerpt":{"rendered":"