European Union forges ahead with Africa gas deals

European Union forges ahead with Africa gas deals. CC/Creative Commons Attribution 2.0

The European Union (EU) is moving ahead with plans to enhance Africa-EU supply chains.

Following the Russia-Ukraine crisis and supply disruptions, the EU has emphasised the viability of Africa’s reserves to meet European demand. A series of deals signed between Europe and African governments and national oil companies (NOC) is a testament to Europe’s increased focus on enhancing energy relations with Africa.

Meanwhile, backed by significant gas resources, emerging markets across the continent have also been identified as potential partners for the EU. Countries such as Mauritania, Senegal, Ghana, Mozambique, Equatorial Guinea and Tanzania could tap into international markets, ramping up LNG exports as soon as large-scale projects come online.

Despite Africa’s position as the ideal partner for the EU, the continent needs its gas resources domestically before they can be utilised internationally, according to The Africa Logistics.

Leon van der Merwe, Conference Director for African Energy Week said: “While Africa struggles to attract investment to boost its gas exploration, production, exploitation and monetization, the stance by Europe to increase cooperation on energy with Africa presents an opportunity for African countries to boost the development of their gas markets.”

“However, Africa should prioritize the exploitation of its gas to meet its own demand first. If Europe wants to benefit from our gas, they need to invest to boost exploration activities, and production levels as well as in the development of infrastructure. This needs to be a win-win situation for both sides.”

 

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Written by

Anna Ellis

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