South African Minister of Energy Confirms Support for Future Energy Africa 2018
By Alam Johnpaul Ifeanyi
Sub-Saharan Africa, rich in oil and natural resources, has entered a dynamic period of exploration, development and production. The continent holds a strategic position offering both tremendous challenges and a major opportunity for a sustainable economic future.
The International Energy Agency estimates that over 620 million people in Sub-Saharan Africa are without access to reliable energy. Consequently, Africa faces an enormous challenge that requires a firm commitment to the accelerated use of legacy fuels, modern technology, alternative energy sources and developing energy infrastructure.
Jeff Radebe, Minister of Energy, South Africa will be setting out South Africa’s plans to develop their resources in his Keynote Speech, South Africa’s Transition to a Low-Carbon Economy by 2030: Key Challenges and Developments, at Future Energy Africa, 1-3 October, Cape Town, South Africa.
At present Africa has oil reserves of 128 billion barrels, 7.5% of the world’s proven reserves and 7.6% of the worlds proven gas reserves. In addition, Libya and Algeria have a combined shale oil potential of 149 billion barrels.
By 2050, Africa’s oil and gas production is set to increase by 74% and global consumption by 45%. Africa’s share of global consumption is predicted to increase to 5.1%.
To address these advances, South Africa aspires to develop an energy hub for gas cooperation across the value chain. Several initiatives and programmes are expected to be launched to expand oil and gas production and with offshore exploration and onshore shale gas exploration likely to prove successful, South Africa will have a localised supply of oil and gas to enable and promote the diversification of the country’s energy mix.
Christopher Hudson, President of dmg events global energy division commented, “Meeting the growing energy demand of their population and ensuring universal access to modern energy services are the principal goals of African countries”
“Africa’s growing population and economic progress has sent energy demand soaring. This calls for a rapid increase in supply on the continent”, he said. “Future Energy Africa 2018, provides a dedicated forum for the international oil, gas and future energy industry to meet Africa’s leaders to debate the issues directly affecting the continent”.
Future Energy Africa 2018, www.futureenergyafrica.com, which includes a dedicated exhibition, is expected to attract over 4,000 visitors, 500 delegates, 50 ministers and government attendees, 250 exhibiting companies, and 100 speakers from over 50 countries.