1. Over $4 billion worth of equipment currently sits on the site. 2.The project is slated to cost $14 billion (N2.8 trillion) of which Dangote is contributing $7 billion in equity. 3.The project site is larger than Victoria Island. It is located on 2135 hectares of land in Ibeju-Lekki, Lagos near the Lekki Free Zone…
As Africa seeks to propel its economic growth and tap into the vast potential of its energy sector, a significant shift is underway, moving investment trends from foreign aid to mutually beneficial commercial relationships with Europe. The upcoming Invest in African Energy Forum in Paris – taking place on June 1 and spearheaded by the…
When global oil prices reached a 15-year high in 2022, Libya, which holds 3% of the world’s hydrocarbon reserves and 39% of Africa’s, was unable to take advantage of the windfall. The reasons were purely political. Production was shut down for months beginning in April as oil became a pawn in the stalemate between…
Critical minerals are essential for the development of renewable energy technologies such as solar panels, wind turbines, green hydrogen, electric vehicles (EVs), and battery storage, and Africa’s mineral wealth has the potential to benefit not only the continent, but to provide a foundation for the global energy transition. Accounting for more than 85% of most…
When Europe began searching for alternatives to Russian oil and gas following that country’s invasion of Ukraine, one of the producing countries they focused on was Algeria. The decision made strategic sense from both a supply and access standpoint. Algeria is the world’s 10th largest global gas producer and fourth largest gas exporter, and only…
For Angola to achieve its targeted 9.9 GW of installed generation capacity and 60% electrification rate by 2025, the country’s Government has instituted an ambitious infrastructure plan. This plan is supported by a series of regulatory reforms, incentives for investors, and strategic partnerships that will require the execution of bankable Power Purchase Agreements, external financing,…
With the discovery of the Greater Tortue Ahmeyim (GTA) gas field in 2015 and the latest developments regarding the BirAllah field, Mauritania has become an increasingly attractive destination for investment. In addition to hydrocarbon supply benefits, the country is set to see numerous economic opportunities made possible through oil and gas monetization, all of which…
Angola’s Minister of Economy and Planning, H.E. Mário Caetano João, has indicated that the southern African country is forecasting economic growth of 3% in 2023, with an increase to an average of over 3.6% between 2023 and 2027. Announced on 26 April, the Minister highlighted that economic growth in Angola will be driven primarily by…
With the discovery of the Greater Tortue Ahmeyim (GTA) gas field in 2015 and the latest developments regarding the BirAllah field, Mauritania has become an increasingly attractive destination for investment. In addition to hydrocarbon supply benefits, the country is set to see numerous economic opportunities made possible through oil and gas monetization, all of which…
Several years ago, the African energy industry was in survival mode. The COVID-19 pandemic had practically eliminated demand for crude oil, and African exports dropped sharply. That’s why — though many African states are still feeling the wounds inflicted by COVID — I find it encouraging to learn that Africa’s liquids supply in 2023 has…
