Author: prtimesafrica

ABIDJAN, Ivory Coast, October 19, 2023/ — Africa needs to rethink how it manages its natural resources to avoid adverse socio-economic consequences that could hamper sustainable development on the continent, experts said at a recent webinar organised by the African Development Bank (www.AfDB.org).
The call came ahead of the 2023 United Nations Conference on Climate Change scheduled for November 30 to December 12 in Dubai, United Arab Emirates. The global conference (COP28) presents a milestone moment when the world will evaluate its progress on the Paris Agreement.
Sustainable management of natural resources in Africa is critical to reducing environmental degradation and encouraging adaptation to climate change.
The African Development Bank organised the webinar with support from the International Resource Panel (www.ResourcePanel.org) and the World Resource Forum Secretariat. Participants shared challenges and best practices on the valuation of natural resources.
Merlyn Van Voore, Head of the International Resource Panel Secretariat in Geneva, Switzerland, said the world is grappling with the lack of appropriate tools and framework to ensure sustainable management of natural resources.
“There are overlaps between managing natural resources and what it means regarding climate and the sustainable development agenda,” she said.
She said the manufacture of electronics demanded attention. For instance, mobile phones at the end-of-life stage require the involvement of several actors, including manufacturers, extractives workers and companies, end users, and network providers, to manage the recycling of used phones.
Dr. Vanessa Ushie, the Acting Director of the African Development Bank’s African Natural Resource Management and Investment Center, said Africa and the world are facing a crisis of nature.
Citing the African Development Bank’s Africa Economic Outlook 2023 report, Ushie said natural resources, including renewables and ecosystem services, generate around 62% of Africa’s GDP.
“Nature is providing essential goods and vital services, and these are not just economic values but ecological, biophysical and environmental values as well. Without fully appreciating these services, we tend to underestimate the value of natural capital,” Ushie said.
Dr. Hans Bruyninckx, a former executive director of the European Environment Agency, said sustainable resource management should be elevated in Africa and in economies worldwide.
“This is important for everybody on this planet given the deeply unequal distribution of costs and benefits of how we do that today, particularly in an African context.”
Historically, Bruyninckx said Africa has been an exporter of resources, but in a deeply unsustainable way.  He said going forward, the continent is expected to play a significant role in the energy transition and information technology that the world relies on for smart solutions. But even more so for its social development and well-being of the people.

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African Development Bank Group (AfDB).

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JOHANNESBURG, South Africa, October 8, 2023/ — Mozambique’s President Filipe Nyusi has been at the forefront of a series of industry-advancing developments in the country. Under his leadership, the country has seen noteworthy success across its energy sector, with a strong slate of foreign companies driving several large-scale projects in close collaboration with the National Oil Company Empresa Nacional de Hidrocarbonetos (ENH). Under efforts to drive the southern African region into a new era of security, President Nyusi continues to showcase resilience and a commitment to a just and inclusive energy transition in Africa.

In line with the event mandate to make energy poverty history by 2030, the African Energy Chamber (AEC) is proud to announce that President Nyusi will once again address delegates at the African Energy Week (AEW) conference in Cape Town. Taking place from October 16-20, President Nyusi’s address marks his return to this highly important event. President Nyusi joins regional Presidents in Cape Town to discuss the pathway towards a sustainable and secure energy future in Africa, including Senegalese President Macky Sall; Namibian President Hage Geingob; Ugandan President Yoweri Museveni; and Nigeria’s former President Olusegun Obasanjo.

Mozambique stands at the intersection of Africa’s energy security and transition agenda, serving as a strong example of how natural gas can accelerate both accessibility and sustainability goals. The country already represents a major green energy producer, with projects such as the 2,075 MW Cabora Bassa Hydropower project providing power to the regional community. In tandem with renewable expansion plans – the country is targeting a wave of solar, hydro and power investments – Mozambique is advancing its oil and gas developments with the aim of electrifying and growing the southern African economy.

The country has been monetizing onshore gas from the Pande and Temane fields for several years, with South Africa’s Sasol importing via the ROMPCO pipeline. Offshore, major projects are making headway, all of which are poised to transform the country. These include the $20 billion TotalEnergies-led Mozambique Liquefied Natural Gas (LNG), with a capacity of 43 million tons per annum (mtpa); the ExxonMobil-led Rovuma Area 4 LNG Trains 1 & 2, with a capacity of 18 mtpa; and the Eni-led Coral Sul Floating LNG project, with a capacity of 3.4 mtpa. Coral Sul achieved first LNG export in late 2022, marking a major milestone for the country.

These billion-dollar initiatives have showcased the potential for large-scale offshore investments, and with most of the country’s resources largely untapped, opportunities for E&P players remain prevalent. Mozambique’s proven natural gas resources are measured at 100 trillion cubic feet (tcf), with proven plays across both onshore and offshore acreage. Other energy companies such as Galp, Shell, Kogas and more are active in the country, but opportunities continue to grow for both regional and international firms. On the oil side, the untapped oil-rich basins of Angoche and Zambezi have enticed the participation of players such as Eni, Sasol, Delonex Energy and ExxonMobil, and yet further opportunities lie awaiting investment. Strategically located in close proximity to high-demand regional markets as well as international consumers, the country’s gas resources will remain of central value for years to come.

President Nyusi believes that Mozambican energy will be instrumental for making energy poverty history in southern Africa. Speaking during last year’s edition of the conference, President Nyusi stated that, “the suffocation that Africa is facing is not due to a lack of resources. Africa is home to 850 tcf of gas in addition to other resources which can play an important role in addressing energy poverty. It is critical to continue reforming the regulatory environment in order to attract more investment.”

“President Nyusi has been at the helm of some of Africa’s biggest natural gas developments,” stated NJ Ayuk, Executive Chairman of the AEC. “While faced with challenges regarding project developments, President Nyusi has shown dedication to engaging with both foreign companies and local communities under efforts to advance energy projects and unlock the full potential of Mozambique’s offshore gas resources. As Africa moves to advance a just and inclusive energy transition, Mozambique’s resources and leaders such as President Nyusi will be of strategic importance.”

AEW 2023 features the most comprehensive lineup of African energy and petroleum ministers as well as Presidents, all of whom have joined the conference with the objective of alleviating energy poverty and industrializing the continent. Centered on signing deals and advancing dialogue around Africa’s position in global energy affairs, AEW 2023 serves as a form of prelude to COP28 discussions about Africa’s energy transition. Leading this dialogue will be President Nyusi among other regional government heads. Join the AEW 2023 conference and take part in the discussions about Africa’s energy renaissance.

 

About Africa Energy Week:
AEW is the AEC’s annual conference, exhibition and networking event. AEW 2023 will unite African energy policymakers and stakeholders with global investors to discuss and maximize opportunities within the continent’s entire energy industry. For more information about AEW 2023, visit www.AECWeek.com.