Following successful stops in London, Oslo and Frankfurt earlier this year, the Chamber’s global investment tour continued to Dubai – representing a global financial capital and trade center – to catalyse new pathways of financing and developing African energy projects.
“Sign baby sign. Let’s sign deals. Let’s get things done and improve the enabling environment. We need to be able to move things faster. The beautiful thing about this city is its ability to drive business. When we cut the regulatory red tape and reduce the time it takes to approve permits, we drive projects. We can build Dubai’s all over Africa. Our industry – the energy industry – is about hope and opportunity,” opened NJ Ayuk, Executive Chairman of the AEC.
Serving as a strategic partner to the event, S&P Commodity Insights presented its Africa Energy Sector Outlook, which highlighted Africa’s natural resource wealth and world-class frontier hydrocarbon discoveries, coupled with its need to balance energy transition and low-carbon energy demand. According to the Outlook, the region also has significant unmet demand for refined products, presenting opportunities for Middle East-Africa cooperation in the fields of refining; power generation; transmission and distribution; and renewables.
“Africa is certainly an exploration hotspot on a global scale… If we look at investment opportunities available today, there is a lot of activity currently underway. Investors in the market are coming in for strategic reasons,” noted Matthew Rawlings, Vice President of upstream Consulting for S&P Commodity Insights. “Around the world, IOCs face increased liabilities and compliance costs with environmental legislation. This shift will have ranging implications for E&P activity host governments and particular relevance to Africa.
For more information: https://energycapitalpower.com/middle-east-africa-energy-stakeholders-unite-in-dubai-for-african-energy-chambers-invest-in-african-energy-event/
