AOW: Investing In African Energy, the continent’s leading oil, gas and energy event, wrapped up today, with the four-day event reflecting a new sense of enthusiasm among energy stakeholders on the continent.
The final day of the event saw a sense of excitement around South Africa’s plans to embrace the opportunities of the gas economy.
One of today’s highlights was a media event where Transnet Ports Authority (TPNA) outlined its plans to develop and operate a liquefied gas terminal at the port of Richards Bay. The proposed LNG terminal is planned to provide the South African market with an LNG import solution to help enhance the country’s energy security and accelerate its decarbonisation journey.
At a media event today, TNPA general manager: special projects, Luvuyo Mkontwana said the first phase was anticipated to begin commercial operation in 2028.
Another announcement this week saw Transnet Pipelines announce a plant to repurpose its Lily pipeline infrastructure to transport liquified natural gas (LNG) from the coast to South Africa’s major inland markets.
However, oil-and-gas dealmaking remains the mainstay of the AOW event, which celebrated its 30th year this year. Numerous licensing rounds were announced this year, by African regions including Zanzibar, Nigeria, Tanzania and Liberia.
The announcements spurred interest from oil businesses and financiers eager to partner with African nations looking to unlock their nations’ oil-and-gas bounty for the benefit of their people.
The continent has seen an uptick in exploration activity in recent years. Already, 2024 has seen exploration successes in DRC, Guinea-Bissau, Republic of Congo, Gabon, Namibia, Equatorial Guinea, and licensing rounds and bids are progressing apace to enhance the development of the continent’s resources.
At the same time, the energy transition promises vast opportunities for the continent. Panels outlined the economic and environmental benefits of the renewables economy for Africa, given its rich solar and wind endowment, as well as recent advances in storage technology.
With Africa now confidently asserting its role in the global energy market, financiers are also finding a range of new possibilities in funding project development. AOW also saw banks, energy traders, governments and development finance institutions sharing new thinking around how to structure deals to offer value for all stakeholders.
The AOW event began on Monday, with a high-level symposium of government ministers and energy officials, opened by South Africa Minister of Mineral and Petroleum Resources, Gwede Mantashe, on ways to drive investment, foster partnerships, and leverage Africa’s abundant oil and gas resources to directly benefit its people.
With 600 million Africans still lacking access to electricity, there remains much work to do, to address the continent’s energy shortages, and AOW plays a significant role in enabling this.
“We are extremely proud of the partnerships that AOW builds, right across the global energy sector,” said Paul Sinclair CEO of AOW owner Sankofa Events. “This year’s event saw people connecting throughout the week, at all of our events. It’s been a great vote of confidence in the importance of AOW to our industry.”
As AOW enters its fourth decade as the continent’s leading energy event, Sankofa has announced that the next edition of AOW will be held in Ghana in September 2025.
