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Category: ENVIRONMENT

  • About Decarbonizing the Aviation Industry

    About Decarbonizing the Aviation Industry

    By: Mohammed Abu

    Even though the palm oil tree in Malaysia and Indonesia are said to be of West African origin, first introduced as ornamental plants, to the two countries, they have since leveraged research and cutting-edge technologies and maximized economic gains from the tree.

    Reuters, Indonesia reports that the country, the world’s leading producer of palm oil, last Friday, flew her first commercial flight using palm oil-blended jet fuel, as she pushes for wider use of biofuels to cut fuel imports.

    Garuda Indonesia CEO, Irfan Setiaputra, the report is said to have disclosed that, the flight was operated by flag carrier Garuda Indonesia, the Boeing 737-800NG aircraft carried more than 100 passengers from the capital Jakarta to Surakarta city about 550 kilometres (342 miles) away.

    Pertamina, according to the report said, the palm-based fuel emits less atmosphere warming greenhouse gases compared with fossil fuels, and palm oil producing countries have called for the edible oil to be included in feedstock for the production of sustainable aviation fuel (SAF).

    “In 2021, Pertamina successfully produced 2.0 SAF in its Cilacap unit using co-processing technology and was made of refined bleached deodorized palm kernel oil with production capacity 1,350 kilolitres per day,” the report quoted Alfian Nasution, a director at Pertamina.

    The report added that Harris Yahya, a director at Energy Ministry said the use of biofuel would lower the greenhouse effect.

    Historical Antecedents

    Indonesia

    The first seeds of the oil palm were brought to Indonesia from West Africa by the Dutch and planted in the Bogor Botanical Garden (Java Island) in 1848 (Wahid et al. 2004).

    In 2021, the total size of oil palm plantations in Indonesia was around 14.62 million hectares.

    Malaysia

    Palm oil trees were introduced to British Malaya by the British government in early 1870s as ornament plants from Eastern Region and The Oil River Protectorate, Nigeria, West Africa.

    In 1917, the first commercial planting of the oil palm took place at Tennamaran Estate in Batang Berjuntai, Selangor.

    In 2021, the size of mature palm oil plantations in Malaysia was around 5.14 million hectares. Fully mature oil palms can produce around 18 to 30 metric tons of fresh fruit bunches per hectare.

    Uses and Economic Importance

    Widely used in Indonesia for cooking oil and applications such as personal care and cleaning products, palm oil is an important sector in Southeast Asia’s largest economy with the industry employing millions of workers

    Palm oil is the main agricultural export of Indonesia and Malaysia, generating 10 % and 5 % respectively of their exports. The sector provides employment for 721 000 smallholders and labourers in Malaysia, and 4 million in Indonesia; a further 11 million in the two countries are indirectly dependent on it.

     

     

     

     

     

  • Call for applications – YouthADAPT Challenge 2023: empowering Africa’s female tech innovators to tackle climate change

    Call for applications – YouthADAPT Challenge 2023: empowering Africa’s female tech innovators to tackle climate change

    ABIDJAN, Ivory Coast, October 25, 2023/ — The Africa Adaptation Acceleration Program (https://apo-opa.info/3s7IvoI), a joint initiative of the African Development Bank (http://www.AfDB.org) and the Global Center on Adaptation, has launched a call for applications for the third edition of the YouthADAPT Challenge, which seeks to support young entrepreneurs driving solutions to tackle climate change.

    The annual YouthADAPT competition invites young entrepreneurs leading micro, small, and medium enterprises in Africa to submit innovative solutions and business ideas that can drive climate change adaptation and resilience across the continent.

    This year’s call focuses on female-owned enterprises pioneering Fourth Industrial Revolution technologies such as artificial intelligence; big data analytics; virtual reality; robotics; internet of things; quantum computing; additive manufacturing; blockchain, and fifth-generation wireless for climate adaptation.

    With support from the Africa Climate Change Fund (https://ACCF.AfDB.org/), hosted by the Bank, the winners will be awarded $100,000 each, alongside mentorship and coaching to further their climate change adaptation solutions and business ideas. They will also join the YouthADAPT Alumni Network to learn from a dynamic community of youth entrepreneurs throughout Africa.

    To be eligible, applicants must be between the ages of 18 to 35. Their ventures should be youth-led and offer tangible solutions to real-life climate challenges. They must be registered and operational in Africa, with at least two years’ worth of accounts.

    Apply by visiting the YouthADAPT competition portal (https://apo-opa.info/3Q8WLVZ).  The closing date for applications is 5 November 2023 at 17:00 GMT. An information session is scheduled for 23 October 2023 at 11:00 GMT to share details about the YouthADAPT Challenge 2023. This session will cover eligibility criteria, the application process, important deadlines, and the advantages of participation, such as grants, mentorship, and business development services.

    Distributed by APO Group on behalf of African Development Bank Group (AfDB).

    Contacts:
    African Development Bank
    Joash Ntenga Moitui,
    Communications and Knowledge Management,
    Africa Adaptation Acceleration Program
    E-mail: j.moitui@afdb.org

    Africa Climate Change Fund
    Rita Effah, Coordinator,
    Africa Climate Change Fund
    r.effah@afdb.org

    Global Center on Adaptation
    Alex Gee,
    Head of Communications,
    Global Center on Adaptation
    E-mail: alex.gee@gca.com

    SOURCE
    African Development Bank Group (AfDB)

  • Green Hydrogen: Shaping Africa’s Sustainable Energy Future in Partnership with Europe

    Green Hydrogen: Shaping Africa’s Sustainable Energy Future in Partnership with Europe

    CAPE TOWN, South Africa, October 17, 2023/ — As Africa and Europe jointly spearhead the global green hydrogen economy, energy dynamics are undergoing a significant transformation. The abundant renewable energy potential in Africa, coupled with Europe’s ambitious production and import goals, is forging new energy pathways and redefining existing standards.

    In line with this, African Energy Week 2023, the African Energy Chamber’s (AEC) premier energy event, featured a dedicated Hydrogen Summit under the theme ‘Powering the Future: Africa and Europe Unleashing the Green Hydrogen Revolution.’ The session, which was moderated by Ashutosh Singh, Director, Financial Services, S&P Global Commodity Insights, explored the far-reaching implications of this transformative shift.

    The discussion opened with a keynote by Kgosientsho Ramakgopa, Minister in the Presidency responsible for Electricity, South Africa, underscoring the importance of green hydrogen in South Africa’s energy strategy.

    “By 2040, Africa could produce 50 times more energy from renewables than the world’s estimated demand,” he said.

    Speaking on South Africa’s ambitions, he added, “We are looking at $1 per kg by 2050, equivalent to indigenous low-cost energy, making South Africa one of the competitive industrial economies.”

    The government has recognized green hydrogen as a key aspect of its just energy transition. It has implemented regulatory changes and introduced the Hydrogen Society Roadmap, serving as the industry’s comprehensive framework to facilitate large-scale investments.

    “The intention of this kind of strategy is to ensure that we are able to develop the kind of standard required for green hydrogen in the future,” said Ramakgopa.

    Meanwhile, in West Africa, Mauritania is spearheading large-scale projects, including the massive Aman project, the Nour Electrolyzer project and the Masdar-Infinity-Conjuncta green hydrogen project.

    “We have big potential in renewable energy and green hydrogen is available,” explained Nani Chrougha, Minister of Petroleum, Mines, and Energy, Mauritania.

    “We are working on the legal framework, which will help to see investments into these resources. We want to put the investors in a position that makes them comfortable investing,” he continued.

    With green hydrogen in demand, Africa can benefit from cutting-edge research and technological advancements in hydrogen production, allowing the continent to harness green hydrogen’s potential more effectively and contribute to its energy transition and economic growth.

    While there is a need for Africa to adopt technologies for green hydrogen and learn from the necessary experiences from European nations, Minister Ramakgopa stated, “We are not the recipients of technologies; we also have the capacity to develop it.”

    The panel discussed the need for infrastructure required to support the green hydrogen supply chain in Africa, highlighting some challenges and opportunities in its development.

    Minster Chrougha said, “We need to access financing to access our important resources, and this will be investment in infrastructure and in the mining sector, and we need to develop capacity in the mining sector, and these are two challenges.”

    Developing a skilled workforce is essential for advancing the production and utilization of green hydrogen. “For African countries, it is very vital to build local capacity. This is a technology that we have not been working on in a long time, so it is extremely important that governments and institutions start to work on building capacity across the entire value chain,” said, Solomon Nwabueze Agbo, Scientist and Project Coordinator at Forschungszentrum Jülich GmbH.

    Finally, to drive investment in green hydrogen, Africa can draw inspiration from Europe’s success stories. By implementing supportive policies and fostering international collaboration, the continent can attract the investments necessary for a thriving green hydrogen industry.

    “For us to get to the point of $2 per kilo, we need to get everyone around the table, including off-takers and financiers,” stated Chinnan Maclean Dikwal, Vice Chair, Board of Directors, African Energy Council.

    He added that for nations that haven’t had the resources for green hydrogen development, it necessitates strategic collaborations. Partnerships are likely to play a significant role.

    #AEW2023 takes place this week in Cape Town under a mandate to make energy poverty history by 2030. Keep following www.aecweek.com for more exciting information and updates about Africa’s premier energy event.

    Distributed by APO Group on behalf of African Energy Chamber.

    SOURCE
    African Energy Chamber

  • Driving Sustainability in the Hospitality Industry

    Driving Sustainability in the Hospitality Industry

    In a major stride towards advancing sustainability and ESG integration within the hospitality sector, Omnevue, a leading ESG reporting platform, has launched a partnership with The Energy & Environment Alliance (EEA) and official statement disclosed  in London,Tuesday.

    To mark the beginning of their partnership, they are inviting members of the hospitality industry to a webinar that offers practical advice and tips regarding ESG reporting and the issues surrounding compliance and disclosure.

    EEA, the global coalition comprising hospitality and lodging investors, developers, operators, and asset managers, is dedicated to guiding hospitality businesses toward achieving net-zero carbon (NZC) status and excelling in environmental, social, and governance (ESG) leadership.

    “ESG reporting is poised to become the defining issue of our time. We can clearly see the transformation taking place, but what’s less clear is the detailed regulatory landscape and how it will reshape organisations. This transformation is on a scale unlike anything senior executives have faced in the past 20-30 years,” remarked Ufi Ibrahim of EEA.

    “We are thrilled to unite with EEA in our shared mission to accelerate the sustainability agenda in the hospitality industry and help guide organisations through this transformative period,” said Daniel Jeczmien, CEO of Omnevue. “Together, Omnevue’s cutting-edge ESG reporting capabilities and the EEA’s extensive industry knowledge and passion to help its members attain NZC, will help businesses thrive.”

    Omnevue aims to be the ‘QuickBooks for ESG’ through its user-friendly and accessible interface. It seamlessly connects to a company’s financial, HR, and other data sources before collecting, analysing, and generating reports aligned with international accounting standards.

    “In response to new regulations, banks, corporates, and investors are now obligated to report on the carbon emissions of the SMEs within their value chains. Omnevue provides the solution that bridges the gap in ESG reporting and data quality,” stated Daniel Jeczmien.

    “Our platform delivers accounting-grade data that can be confidently shared with investors, lenders, and customers. We are committed to simplifying ESG reporting for SMEs, making it accessible and cost-effective.”

    Webinar: Comprehensive and Cost-Effective ESG Reporting for the Hospitality Sector

    Tuesday 31st October 10-11am

    Register: https://bit.ly/3QhKf7T

    For more information, please visit www.omnevue.com

  • HTU Baobab Project Domestication in Pictures

    HTU Baobab Project Domestication in Pictures

  • dnata to cut CO2 emissions by 80 per cent in the UAE

    dnata to cut CO2 emissions by 80 per cent in the UAE

    Air and travel services provider dnata has taken steps to reduce its environmental footprint across its operations in the UAE.

    dnata’s group brands dnata Logistics, Arabian Adventures, Alpha Flight Services and City Sightseeing have switched their vehicles to operate using a biofuel blend.

    dnata says that the move will save 80 tonnes of Carbon Dioxide (CO2) emissions per year, equivalent to over 320,000km driven by an average petrol-powered car.

    dnata Logistics has switched 31 of its trucks to run on a biofuel blend at its Dubai-based hub. Providing multimodal freight forwarding, logistics, supply chain and road transport services, its trucks cover up to a total 217,000km per month. The move saves almost 35 tonnes of CO2 emissions per year, the equivalent of eight petrol-powered cars driven for one whole year.

    City Sightseeing Dubai, a joint venture with dnata Travel Group, operates three tour routes, aiding viewing of Dubai’s top attractions, through the use of 21 open-top, biofueled buses. These cover an average 76,000km per month, removing over 32 tonnes of CO2 emissions each year – the equivalent of the electricity use of four average homes for 12 months.

    Alpha Flight Services (Alpha), dnata’s inflight catering joint venture, has already switched five landside vehicles to biofuel blend, and is also in the process of transitioning all of its Sharjah-based airside catering trucks. Alpha now sends its used cooking oil to the biofuel manufacturer and once recycled, it is then reused within its vehicles. One litre of oil recycled into biofuel avoids the emissions of 3kg of CO2, a reduction of 92 per cent compared to diesel fuel use. Alpha’s vehicles cover over 27,000km per month, supporting the company’s catering operations that create over 25,000 meals a day. As a result of the initiative, Alpha will save seven tonnes of CO2 emissions per year, the equivalent of charging over 850,000 smartphones.

    Arabian Adventures has also switched the generators at its desert safari camps to a biofuel mix. Arabian Adventures is saving almost five tonnes of CO2 emissions per year as a result of the initiative, equating to 1987 litres of diesel.

    Steve Allen, CEO of dnata Group, said, “The introduction of biofuel to a diverse range of our UAE businesses is an important step in our ongoing journey. It offers a simple and effective method of cutting emissions throughout the fuel lifecycle, without requiring any changes to equipment. We will continue to invest in our operations, including large-scale infrastructure solutions, to further enhance our sustainability performance and achieve our green operations targets.”

    dnata sustainability initiatives

    Dnata’s latest biofuel initiative is part of its efforts to reduce its carbon footprint and waste to landfill by 20 per cent by 2024 in line with its two-year green operations strategy.

    In June 2022, dnata said that that it would invest $100m in green operations in two years to enhance its environmental efficiency globally.

    The company offers ground handling, cargo, travel, catering and retail services in over 30 countries across six continents. More than 15 per cent of the company’s global fleet is now electrified.

    SOURCE

    GULF BUSINESS

     

  • Energy Investment Village 2023 Finalists Announced

    Energy Investment Village 2023 Finalists Announced

    JOHANNESBURG, South Africa, September 15, 2023/ — Africa’s boldest and most ambitious cleantech start-ups will take part in the Energy Investment Village (https://apo-opa.info/468SsAw), an exciting deal-pitching event at the Green Energy Africa Summit (https://GreenEnergyAfricaSummit.com), to be held in the heart of South Africa’s Cape Town on 10-11 October at the CTICC2.

    Held under the theme, “Unlocking Africa’s Sustainable Energy Potential,” the Green Energy Africa Summit (GEAS) will provide unrivalled opportunities throughout its two-day programme for the continent’s leaders in energy, finance, and social development, to meet with international investors, to find sustainable solutions to Africa’s energy needs and a just transition to a green economy.

    This highly anticipated event advocates for the harmonisation of Africa’s natural resources, as well as policy reforms, to help usher in an energy transition that ensures the continent remains competitive and attractive to global finance. With over 1000 delegates from 67 countries, GEAS invites both public and private stakeholders across the energy value chain to collaborate, offer solutions, and build partnerships to help unlock Africa’s true socioeconomic potential.

    GEAS is thrilled to welcome its strategic industry partners, including The Banking Association of South Africa (https://www.Banking.org.za/) and The African Forum for Utility Regulators (https://AFURnet.org/). This year’s agenda features a strong mix of discussions within dedicated content streams, from the Energy Strategy Forum on day one, to the Green Energy and Green Finance Forums on day two. Attendees can look forward to country and regional spotlights on South Africa and West Africa, as well as sessions led by finance and energy heavyweights. Find the full GEAS 2023 agenda here: https://apo-opa.info/3rfJNxm

    The Energy Investment Village (EIV) is the GEAS’s Lion’s Den-style pitching event for cleantech companies, which will be held on 11 October. The finalists will be given an extraordinary opportunity to gain exposure, network with potential clients, and receive vital market validation. Most importantly, they will be given the chance to pitch for funding (https://apo-opa.info/468SsAw) from international investors.

    “Africa’s traditional, fossil-fuel-based energy cannot keep pace with its swift development. While the continent’s abundance of natural resources can enable clean energy innovations, constraints like access to finance impedes the opportunities for local clean-tech innovators. Events such as the EIV open up direct pathways to decision-makers and funders, and are a critical enabler of the clean-tech ecosystem,” says RIIS CEO Davis Cook.

    In partnership with Saldanha Bay Innovation Campus (https://www.InnovationCampus.co.za/), RIIS (https://EnablingInnovation.Africa/), and Anza Capital (https://Anza.Holdings/), and supported by Africa Scotland, JSE, Oceanhub-Africa, Savant, Firecracker, CHIETA, and SASOL, the EIV is delighted to introduce the outstanding finalists that have been selected to present their projects, which aim to revolutionise the energy landscape and promote sustainable development in Africa:

    1. Therm Development: Pioneers in sustainable heating solutions, utilising innovative technologies for efficient energy consumption.
    1. AET Africa: Visionaries in renewable energy systems, specialising in solar and wind power generation across the African continent.
    1. Ceneco Green Power Limited: Experts in developing and operating environmentally friendly power plants, focused on reducing carbon emissions.
    1. Energy Cubes: Innovators in energy storage, offering scalable and cost-effective solutions for optimising power distribution.
    1. Powerstove Energy: Trailblazers in clean cooking solutions, providing efficient and clean-burning stoves for households and communities
    1. Revive Earth Limited: Leaders in waste-to-energy conversion, turning organic waste into renewable resources while mitigating environmental impact.
    1. Green Share Virtual Power Plant: Pioneers of a decentralised energy management system, enabling communities to generate, store, and share renewable energy.
    1. Thinkbikes: Innovators in sustainable urban transportation, designing and manufacturing electric bicycles for eco-conscious commuters.
    1. FLX EV: Visionaries in electric mobility, offering cutting-edge electric vehicles with a focus on performance, affordability, and sustainability.
    1. Impact Free Water: Experts in water treatment technologies, providing sustainable solutions for clean and accessible water in resource-challenged regions.

    Don’t miss out on the chance to engage with these visionary entrepreneurs and experts, as they demonstrate how their projects will address the energy challenges across Africa. From scalable solutions for rural communities, to innovative grid technologies, these finalists promise to inspire, educate, and shape a greener future for the continent.

    Organised by Hyve Group Plc., the Green Energy Africa Summit is where the world connects with the African Energy sector. Register to attend here https://GreenEnergyAfricaSummit.com/. Attend the Green Energy Africa Summit to be part of the solution and connect with industry leaders, charting the way towards a sustainable clean energy transition for Africa.

    Distributed by APO Group on behalf of Green Energy Africa Summit.

    Media Contact:
    Amie Sparrow
    PR Manager
    amie.sparrow@hyve.group
  • Nuclear energy to supercharge global clean energy transition: ENEC CEO

    Nuclear energy to supercharge global clean energy transition: ENEC CEO

    ENEC’s CEO highlighted how nuclear can sustainably power energy intensive industries such as datacenters, which utilise 4-5 per cent of total global power supply

    Mohamed Ibrahim Al Hammadi, managing director and CEO of the Emirates Nuclear Energy Corporation (ENEC), showcased the role of nuclear technology in decarbonising hard-to-abate sectors during the World Nuclear Symposium 2023, which took place from September 6-8 in London, UK.

    Al Hammadi along with Dr Angela Wilkinson from the World Energy Council, Todd Noe, director of Nuclear Technologies Engineering at Microsoft, and Mikal Boe, CEO of Core Power, participated in the discussion session titled ‘Achieving End-users Decarbonization Goals with Nuclear Energy’.

    During the discussion, Al Hammadi highlighted how nuclear technology can sustainably power energy intensive industries. These include artificial intelligence (AI) and data centres.

    These centres alone utilise 4-5 per cent of total global power supply, and this will only grow as greater digitalisation occurs.

    UAE is harnessing the potential of nuclear energy, says ENEC CEO

    “The UAE is a success story for harnessing the potential of nuclear energy to create a range of clean products through the Barakah Nuclear Energy Plant. Today, we are supporting the green industrialisation by providing clean electricity and enabling Clean Energy Certificates. They play an important role in decarbonising businesses and helping unlock global ESG funds, which are valued at $30tn and forecast to double by 2030,” the ENEC CEO explained.

    During the discussion, Al Hammadi also stated how essential nuclear energy is to net zero, and how it can supercharge the energy transition. With urgent global collaboration, nuclear energy can be scaled up to meet energy challenges.

    He also mentioned that through recognising nuclear energy as a key clean source for decarbonising and ensuring its prominence in conversations at events such as COP28, the industry can obtain the necessary support to have the impact required to achieve net zero.

    The development of the Barakah Nuclear Energy Plant in the UAE is a catalyst for innovation and R&D in new areas, including small modular reactors which are a key part of the future growth of ENEC, alongside other next-generation technologies.

    Nuclear energy and the Barakah Plant are bridges to future fuels such as clean hydrogen and other clean molecules.

    Other topics covered at the symposium included ‘Fueling Our Nuclear Future: The Nuclear Fuel Report 2023,’ ‘People First: Leading the Industry to Success,’ ‘Investing in Nuclear,’ and ‘Optimizing Plant Life Performance (in collaboration with WANO).’

    SOURCE

    GULFBUSINESS

     

  • G20 summit: UAE, Saudi Arabia, India, US announce historic trade corridor deal

    G20 summit: UAE, Saudi Arabia, India, US announce historic trade corridor deal

    BY MARISHA SINGH

    SEPTEMBER 10, 2023

     The UAE, Saudi Arabia, India, EU, US and other G20 partners agreed to explore a shipping corridor project to augment trade between Europe and Indian subcontinent

    The leaders of the world’s biggest economies announced a landmark deal that creates a multinational rail and ports link through the Middle East and South Asia. The India-Middle East-Europe Economic Corridor agreement was announced on Saturday at the first day of the G20 summit in New Delhi.

    The US, Saudi Arabia, EU, UAE and other G20 partners agreed to explore a shipping corridor project to augment trade between Europe and India. It aims to link Middle East countries by railway and connect them to India by port, helping the flow of energy and trade from South Asia through the Gulf to Europe.

    G20 backdrop for historic deal

    A memorandum of understanding for the deal was set to be signed by the European Union, India, Saudi Arabia, the United Arab Emirates, the US and other countries on the sidelines of the summit.

    US President Joe Biden said it was a “real big deal” that would bridge ports across two continents and lead to a “more stable, more prosperous and integrated Middle East.”

    He said at an event announcing the pact that it would unlock “endless opportunities” for clean energy, clean electricity, and laying cables to connect communities.

    The US President thanked UAE President Sheikh Mohamed bin Zayed for his key role in securing the milestone rail and ports deal linking the Middle East and South Asia.

    “I do want to say thank you, thank you, thank you,” Biden said at an event to unveil the initiative. “I don’t think we’d be here without you.”

    The establishment of the corridor aims to significantly enhance connectivity and integration between participating countries and will be comprised of two different pathways – the east corridor connecting India to the Arabian Gulf and the northern corridor connecting the Arabian Gulf to Europe.

    The cross-border ship-to-rail transit corridors will reduce shipping costs across the network and facilitate trade in goods and services to, from, and between the UAE, Saudi Arabia, India, and Europe.

    India’s Prime Minister Narendra Modi said, “Today, as we embark upon such a big connectivity initiative, we are sowing the seeds for future generations to dream bigger.”

    The deal will benefit low and middle-income countries in the region, and enable a critical role for the Middle East in global commerce, Jon Finer, the US deputy national security adviser, told reporters at the bloc’s annual summit in New Delhi.

    “Linking these key regions, we think, is a huge opportunity,” said Finer.

    No immediate details of the value of the deal were available.

    UAE, India talks

    The UAE President Sheikh Mohamed and Prime Minister Narendra Modi met on the sidelines of the summit to discuss strengthening economic partnerships between the two countries.

    The leaders discussed boosting their Comprehensive Economic Partnership Agreement (CEPA) and other “promising opportunities”, as per state news agency WAM.

    Sheikh Mohamed and Modi touched on topics including reinforcing bilateral co-operation, especially in the economic, investment, development, renewable energy and food security sectors as both countries seek sustainable growth.

    They also addressed the importance in accelerating mutually beneficial action in the areas of sustainability, environmental conservation and climate change mitigation, aside from regional and international developments of mutual interest.

    Saudi Arabia, US sign MoU

    Saudi Arabia and the US additionally announced the signing of a memorandum of understanding for developing a protocol for establishing intercontinental green transit corridors through the kingdom to connect the continent of Asia with the continent of Europe, on the sidelines of the summit.

    The project aims to facilitate the transit of renewable electricity and clean hydrogen via transmission cables and pipelines, as well as constructing rail links.

    It is also intended to enhance energy security, support efforts for the development of clean energy, promote the digital economy through digital connectivity and transmission of data via fiber cables, and promote trade and transportation of goods by rail and through ports.

    SOURCE

    GULF TIMES

     

     

     

     

     

     

     

     

  • Stop Sitting on Blocks: Participate in the AEW 2023 African Farmout Forum

    Stop Sitting on Blocks: Participate in the AEW 2023 African Farmout Forum

    By: N.J.Ayuk

    Africa’s oil and gas wealth will go to waste unless countries and companies stop sitting on blocks and invest in the production of future energy supplies

    Africa represents one of the final frontiers for hydrocarbon exploration worldwide. At a time when demand for oil and gas is skyrocketing globally and African nations are making great strides towards industrializing their economies, developing untapped oil and gas resources will be instrumental. Yet, the continent continues to see a trend whereby companies acquire blocks and hold onto the asset until someone else makes the investment and carries it to success.

    While this may have worked decades ago, this is not the way to invest in Africa. Holding onto assets without making the financial commitment will not alleviate energy poverty: it simply brings to light ineffective partners and uncommitted companies. The industry is changing, and independents, major E&P firms and investors need to commit or get out and let others take the reins.

    With over 600 million people currently without access to electricity and over 900 million without access to clean cooking solutions, Africa requires a collaborative approach to bringing new supplies on the market. Efforts to industrialize have brought to attention current trends of block inactivity, unexploited acreage and potential markets.

    Governments want to see movement, to see investment, and to see companies fulfilling their financial and exploration commitments. The time is over where companies take an asset without taking the exploration risk. For Africa to unlock the full potential of its resources, companies with intentions to commit need to be connected to blocks, and this is where the African Farmout Forum steps in.

    During this year’s edition of the African Energy Week (AEW) conference and Exhibition – scheduled for October 16-20 in Cape Town – an African Farmout Forum will connect new investors to blocks, foster partnerships to stimulate exploration and kickstart a new era of oil and gas development on the back of block acquisition.

    The African Farmout Forum is spearheaded by financial services company Moyes & Co; global acquisition and divestment advisor Envoi; and oil and gas deal listing platform FarmoutAngel, alongside the African Energy Chamber (AEC), and represents a not-to-be-missed event for global upstream players.

    For E&P firms, the African Farmout Forum presents a strategic opportunity to tap into untapped acreage in Africa. The forum hosts policymakers and governments from across the entire African continent, with major plays on show including Angola, the Democratic Republic of the Congo (DRC), Sierra Leone, Kenya and many more.

    National delegations will provide presentations on upcoming licensing rounds, current merger & acquisition activity and future projections for ongoing exploration initiatives. Meanwhile, for countries with unexploited hydrocarbon potential, the forum allows for direct discussions with independents and major players, fostering engagement that allows for new deals to be signed.

    The continent’s proven oil and gas resources currently measure 125 billion barrels of oil and 620 trillion cubic feet (tcf) of gas. However, many markets are yet to reveal the full extent of their hydrocarbon deposits. Nigeria, for example, with proven gas reserves of 200 tcf, likely holds more than 600 tcf in recoverable resources while South Africa likely holds up to 209 tcf of onshore gas. Additionally, countries such as the DRC, Zimbabwe, Sierra Leone, Sudan, Kenya and many more have not fully identified resource quantities, paving the way for fresh discoveries and developments.

    At the same time, many proven oil-rich basins have blocks that are currently not being developed. Companies are either being slow to invest or countries are being relaxed with procedures and timing. If Africa is going to alleviate its energy crisis, spurring long-term economic growth and industrialization on the back of oil and gas, these blocks need to be developed in an urgent manner.

    The African Farmout Forum will introduce companies with oil blocks, permits or licenses to investors and publicly traded companies through interactive executive management presentations. The forum will feature live presentations from company executives and industry experts, with opportunities to engage in Q&A sessions with presenters. This enables collaboration and direct negotiation, eliminating barriers such as lack of clarity. Additionally, the forum offers the chance for stakeholders to schedule one-on-one meetings with company management, further enhancing opportunities for engagement.

    “For small and independent companies seeking liquidity, and large companies looking for a balance of individual and institutional investment, the forum offers attendees the ability to engage with a large number of investors from across the globe. Africa needs to stop this trend of sitting on untapped blocks. If the continent wants to make any progress to industrialize and make energy poverty history, independents, major energy firms, state-owned companies and governments need to proactively develop both on- and offshore acreage,” stated NJ Ayuk, Executive Chairman of the AEC.

    The African Farmout Forum provides companies from across the private and public sectors the unique opportunity to meet, connect and sign deals. Spearheaded by industry experts and featuring numerous upstream market presentations, the forum introduces investors to untapped acreage. Join the African Farmout Forum today and be part of the next wave of upstream success in Africa.

    AEW is the AEC’s annual conference, exhibition and networking event. AEW 2023 will unite African energy policymakers and stakeholders with global investors to discuss and maximize opportunities within the continent’s entire energy industry. For more information about AEW 2023, visit https://aecweek.com.