GECF: Natural gas can boost the economic prosperity of Africa without harming the environment

The Gas Exporting Countries Forum (GECF), the global platform of the leading gas exporting countries, anticipates a bright future for Africa’s gas industry with tremendous opportunities for growth, its Secretary General said. Delivering a high-level message at the 8th African Petroleum Congress & Exhibition (CAPE VIII), being held in Luanda, Angola from 16-19 May, HE Eng. Mohamed Hamel said that natural gas demand in Africa will double between today and 2050, reaching nearly 400 billion cubic metres (bcm). "Our flagship publication, Global Gas Outlook 2050, shows that Africa is expected to contribute to the future of global gas supply. Untapped deep-water resources will lead the continent’s production to double from 250 bcm presently to more than 500 bcm in 2050," HE Hamel, Secretary General of the Gas Exporting Countries Forum (GECF) said. Touching on the challenges Africa faces, such as the adverse impact of the coronavirus pandemic, high inflation, looming food crisis, and the impacts of climate change and conflicts, the GECF official asserted that the vast proven and recent discoveries of natural gas in Africa can be utilised to counter power deficits and enable accelerated electrification.

Original Press Release:

Doha, May 17 -- Gas Exporting Countries Forum issued the following news release:

The Gas Exporting Countries Forum (GECF), the global platform of the leading gas exporting countries, anticipates a bright future for Africa’s gas industry with tremendous opportunities for growth, its Secretary General said.

Delivering a high-level message at the 8th African Petroleum Congress & Exhibition (CAPE VIII), being held in Luanda, Angola from 16-19 May, HE Eng. Mohamed Hamel said that natural gas demand in Africa will double between today and 2050, reaching nearly 400 billion cubic metres (bcm).

“Our flagship publication, Global Gas Outlook 2050, shows that Africa is expected to contribute to the future of global gas supply. Untapped deep-water resources will lead the continent’s production to double from 250 bcm presently to more than 500 bcm in 2050,” HE Hamel said.

“However, turning reserves into supply requires more than US$1.6 trillion worth of investment. The narrative that investment in natural gas is not compatible with the global fight against climate change is seriously misguided.”

“It is also unjust when it adversely impacts African countries that rely on their natural resources to develop and to fight against climate change – a change for which they bear no historical responsibility,” he added.

According to him, African countries have their own specificities and aspirations to achieve sustainable economic and social progress, centred on their own resources and capabilities.

This is all the more important as the population of Africa is expected to reach 2.5 billion in 2050, with 60% of this demographic living in urban areas, and a GDP that will go past US$ 6.7 trillion.

“Africa is a rich continent with natural gas resources that can boost the economic prosperity of the continent without harming the environment,” HE Hamel stressed.

Touching on the challenges Africa faces, such as the adverse impact of the coronavirus pandemic, high inflation, looming food crisis, and the impacts of climate change and conflicts, the GECF official asserted that the vast proven and recent discoveries of natural gas in Africa can be utilised to counter power deficits and enable accelerated electrification.

Moreover, natural gas can provide access to clean cooking as the continent moves away from the traditional use of biomass. Simultaneously, natural gas, as a key input in the production of fertilisers, will contribute to the productivity of the agricultural sector and will play a positive role in ensuring food security in Africa.

Thanking HE Eng. Diamantino Pedro Azevedo, Minister of Mineral Resources, Petroleum and Gas of Angola, who is also the current President of African Petroleum Producers’ Organization (APPO) – the organiser of CAPE VIII, HE Hamel appreciated the positive steps GECF Observer Member Angola and APPO are taking under HE Azevedo’s leadership in ushering a new era of energy prosperity.

Since it became a Member of GECF in 2019, Angola has played an a very proactive role in supporting the Forum’s missions and objectives along with its other African continent Member countries, Algeria, Egypt, Equatorial Guinea, Libya, Nigeria and now Mozambique.

Source: Gas Exporting Countries Forum

[Category: Energy, Oil & Gas Exploration/ Production, ESG]