Carbon Capture, Utilization and Storage (CCUS) Technologies Vital for Africa’s Sustainable Hydrocarbon Development
African Energy Week 2022 will host panel discussions and high-level meetings to discuss the critical role carbon capture, utilization and storage technology plays in ensuring Africa’s oil and gas developments align with global sustainable energy practices
The AEC is strongly advocating for African governments to introduce financial incentives and policies that encourage CCUS adoption for oil and gas optimization and decarbonization
While Africa faces the impacts of climate change, the rate of energy poverty across the continent has actually increased by 25 million people in 2022 compared to pre-COVID-19 levels. This increase, coupled with the continent’s growing population, has emphasized the role Africa’s hydrocarbons will play in alleviating energy poverty and driving socioeconomic growth. To ensure the development of the continent’s hydrocarbon resources align with global climate policies, the adoption of technologies such as carbon capture, utilization and storage (CCUS) within the hydrocarbons sector could be a game changer.
Through CCUS, Africa has the opportunity to attract the investments needed to enhance oil and gas production and exploitation while ensuring development is achieved in a sustainable manner. With investments of up to $25 billion now required across the continent’s entire energy sector per annum to achieve universal energy access by 2030, CCUS application across the oil and gas industry will be critical for securing capital and prioritizing environmental sustainability. Such technologies will be instrumental in ensuring the continent’s 125.3 billion barrels of crude oil and 620 trillion cubic feet of gas reserves are both exploited and maximized to meet domestic energy needs, particularly across heavy industries and power generation while also creating jobs across the energy sector and various industries.
With Europe increasingly looking to Africa to meet its energy demands, CCUS application across Africa’s oil and gas sector will help improve the continent’s gas monetization and revenues for governments. Despite CCUS momentum gradually increasing in Africa owing to strengthened policy support, net zero commitments, digitalization across the energy sector and the emergence of strategic business partnerships, up until now, adoption has been limited to a few countries including South Africa, Nigeria and Algeria. In this regard, more needs to be done from a regulatory perspective to accelerate adoption across the entire continent.
The African Energy Chamber (AEC), as the voice of the African energy sector, is calling for improved collaboration between academia and private and public sector institutions to accelerate research, development and technology adoption in African hydrocarbon producing countries. The AEC is strongly advocating for African governments to introduce financial incentives and policies that encourage CCUS adoption for oil and gas optimization and decarbonization.
With Africa currently developing large-scale gas projects such as the Eni’s Coral-Sul Floating Liquefied Natural Gas (LNG) facility and TotalEnergies’ LNG project in Mozambique; the Graff and Venus discoveries in Namibia; the Brulpadda and Luiperd finds in South Africa; and the Greater Tortue Ahmeyim LNG development in Senegal and Mauritania, it is critical to integrate CCUS technology to optimize production and environmental impact.
“With the demand for gas expanding across the globe and Africa’s gas rush intensifying, the focus for Africa should be the implementation of CCUS and various cost-effective technologies which pave way for optimal exploitation of our domestic energy resources to improve energy access and fuel industrialization while averting climate change,” states NJ Ayuk, the Executive Chairman of the AEC, adding that, “At African Energy Week (AEW) 2022, both continental and regional CCUS technology providers, energy investors, stakeholders and government representatives will gather for four days of high-level discussions, meetings and networking to explore boosting CCUS penetration across the African oil and gas sector.”
AEW 2022, Africa’s leading investment platform for the oil and gas sector, which takes place from 18 – 21 October 2022, will feature panel discussions, ministerial forums and various summits to discuss the role of digitalization across Africa’s oil and gas sector. AEW 2022 represents an ideal platform to discuss, negotiate and sign energy projects and technology partnerships and deployment deals.
Distributed by APO Group on behalf of African Energy Week (AEW).
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About AEW 2022:
AEW 2022 is the AEC’s annual conference, exhibition and networking event. AEW 2022 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments. Key organizations such as the African Petroleum Producers Organization, as well as African heavyweights including Equatorial Guinea and Nigeria, have partnered with AEW, strengthening the role the event will play in Africa’s energy future.