On 25 and 26 October 2023, Accra, Ghana, hosts the Future of Energy Conference 2023 (#FEC2023) under the theme: “Abundant Resources, Sustainable Choices and Innovations: Shaping Africa’s Energy Landscape”.
On this second day (26 October 2023), two sessions were held, one of which focused on “Access strategies for Africa’s national oil companies to the energy of the future”.
These national oil companies are key institutions whose actions affect the extractive sector and, by extension, the electricity sector. They control significant financial resources for investment and equity stakes in oil and gas exploration and production. The energy transition is a revolution that has the potential to offset or help the gains anticipated by companies throughout the region. It is therefore important to identify and assess their strategies in the context of the energy transition.
The second session looked at the role of governments and companies in marketing gas through effective methane management.
Methane is a potent greenhouse gas that plays an important role in exacerbating the global climate crisis. By adopting methane reduction technologies, Africa can seize economic opportunities through the commercialisation of gas. The International Energy Agency (IEA) estimates that methane emissions from the oil and gas sector can be reduced by around 40% at zero net cost. Africa can therefore benefit in two ways: by contributing to the reduction of methane emissions and by deriving economic benefits from the commercialisation of gas. The session examined the drivers for action or inaction on methane management. It identified effective and practical approaches to enable Africa to contribute to the reduction of methane emissions while at the same time benefiting economically from marketing efforts.
The conference is organised by #ACEP, #Oxfam, #pwyp #Ford_Fondation, #Bad, #Africa_initiative.
Its main objective is to examine Africa’s energy needs and the range of technologies and resources that can sustainably reduce energy poverty and advance industrial growth.
Based on the conference discussion points, ACEP will work with experts and relevant stakeholders to develop a policy paper that comprehensively assesses Africa’s energy needs and the range of technologies and resources that can sustainably reduce energy poverty and advance industrial growth. The policy paper will advise African governments on regulatory reforms and strategic pathways to shape Africa’s energy landscape.
Elie KABORE
#Mines_Actu_Burkina
