US Report on Natural Gas Launched to Drive Investment in Africa
Africa50, in partnership with Energy Futures Initiative (EFI) has announced the US launch of the gas report on Investing in natural gas for Africans, with the theme: ‘Doing Good and Doing Well.’
It was launched during a ceremony held recently at the Atlantic Council Headquarters.
In June 2018, Africa50 commissioned a report from EFI to analyse the opportunities and benefits of natural gas development in Africa.
The study explored the scale of potential domestic demand by mid-century, and the technologies that can help increase this demand and the concomitant supply and infrastructure.
Speaking at the ceremony, former US Secretary of Energy and EFI founder, Ernest Moniz, said: “Natural gas development in Africa is a major opportunity for addressing multiple needs: economic needs, health issues and indirectly women’s empowerment and environmental needs.”
He added that Africa was the most dynamic continent in terms of growing middle class and developing economies and that the development of natural gas required an integrated approach with huge investments in urban and rural infrastructure.
On his part, Africa50 CEO, Alain Ebobissé said: “With over 7.5 per cent of the world’s known gas reserves, Africa is sitting on another natural resource bonanza, which can power its industrialisation and sustainable growth. African countries must develop domestic gas reserves and infrastructure and secure reliable imports via pipelines or Liquified Natural Gas to fully profit from this tremendous opportunity.
“We are actively looking for partners that will co-invest with us, including in innovative technologies, to help develop the continent’s natural gas industries.”
The event concluded with a panel discussion featuring Principal Secretary in Kenya’s State Department of Petroleum, Andrew Kamau; Alain Ebobissé; and EFI Managing Principal, Melanie Kenderdine.