{"id":5807,"date":"2022-04-06T11:56:02","date_gmt":"2022-04-06T11:56:02","guid":{"rendered":"https:\/\/www.africa-press.net\/angola\/all-news\/african-nations-to-benefit-from-europes-quest-for-energy-security"},"modified":"2022-04-06T15:21:28","modified_gmt":"2022-04-06T15:21:28","slug":"african-nations-to-benefit-from-europes-quest-for-energy-security","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/angola\/all-news\/african-nations-to-benefit-from-europes-quest-for-energy-security","title":{"rendered":"African nations to benefit from Europe\u2019s quest for energy security"},"content":{"rendered":"

Africa-Press – Angola. <\/strong><\/span>With the West seeking to reduce its dependence on Russian hydrocarbons, African natural gas and minerals may fill the gap<\/b><\/p>\n

As Europe seeks to diversify its sources of energy away from Russian oil and gas, African countries are poised to fill the gap with their non-renewable and renewable resources, according to leading economic research institution.<\/p>\n

\u201cAfrica boasts vast, unexploited hydrocarbon reserves, and major energy companies could look towards the continent to supplant Russian gas,\u201d Oxford Economics said in a briefing on Tuesday.<\/p>\n

While acknowledging Europe\u2019s quest to transition to green energy, the report still sees that African natural gas will remain an important source of energy on both the medium and long terms.<\/p>\n

Countries such as Nigeria, Egypt, Mozambique and Algeria which together hold nearly seven percent of the world\u2019s reserves of natural gas should be able to benefit from Europe\u2019s efforts to reduce its dependence on the Russia natural gas. However, security challenges including insurgencies and vandalism still impact production in some of these countries and discourage major energy investors, according to the report.<\/p>\n

\u201cAfrica\u2019s hydrocarbons sector could see a quick uptake in development if these governments position themselves as attractive alternatives to Russian oil and gas,\u201d read the report. \u201cThis will require them to placate fears that property rights will not be respected over the long-term investment horizons, and the provision of accommodative operational environments.\u201d<\/p>\n

Away from hydrocarbon, Africa has the greatest potential to benefit from the world\u2019s transition to clean energy on the long term, said the report. Many African countries are rich in platinum group metals (PGMs), copper, cobalt, tin, bauxite, and manganese_ minerals and metals deemed necessary for the development of clean energy technologies.<\/p>\n

The Oxford Economics briefing noted that market prices of some of these minerals have already been increasing, following the Russian war on Ukraine, as the West started rushing plans to switch to non-hydrocarbon sources of energy.<\/p>\n

The report lists four African countries that are bound to benefit the most including South Africa, the Democratic Republic of Congo (DRC), Gabon and Guinea.<\/p>\n

South Africa alone accounts for 50% of the world\u2019s PGM production and 90% of the world\u2019s PGM reserves; 30% of the world\u2019s manganese production and 40% of the world’s manganese reserves, read the report.<\/p>\n

As to DRC, it accounts for 70% of the world\u2019s cobalt production and holds half of the world\u2019s reserves of the same metal. Meanwhile, Gabon is rich in manganese and Guinea has 30 percent of the world\u2019s bauxite reserves, said Oxford Economics.<\/p>\n

For More News And Analysis About Angola<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Angola. With the West seeking to reduce its dependence on Russian hydrocarbons, African natural gas and minerals may fill the gap As Europe seeks to diversify its sources of energy away from Russian oil and gas, African countries are poised to fill the gap with their non-renewable and renewable resources, according to leading […]<\/p>\n","protected":false},"author":84,"featured_media":5806,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6,8,16],"tags":[233,337,329],"class_list":["post-5807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-angola","tag-angola"],"yoast_head":"\nAfrican nations to benefit from Europe\u2019s quest for energy security - Angola<\/title>\n<meta name=\"description\" content=\"With the West seeking to reduce its dependence on Russian hydrocarbons, African natural gas and minerals may fill the ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/angola\/all-news\/african-nations-to-benefit-from-europes-quest-for-energy-security\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"African nations to benefit from Europe\u2019s quest for energy security\" \/>\n<meta property=\"og:description\" content=\"With the West seeking to reduce its dependence on Russian hydrocarbons, African natural gas and minerals may fill the ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/angola\/all-news\/african-nations-to-benefit-from-europes-quest-for-energy-security\" \/>\n<meta property=\"og:site_name\" content=\"Angola\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-06T11:56:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-06T15:21:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2022\/04\/img-624dafde8a1ce.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"426\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/african-nations-to-benefit-from-europes-quest-for-energy-security#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/african-nations-to-benefit-from-europes-quest-for-energy-security\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"African nations to benefit from Europe\u2019s quest for energy security\",\"datePublished\":\"2022-04-06T11:56:02+00:00\",\"dateModified\":\"2022-04-06T15:21:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/african-nations-to-benefit-from-europes-quest-for-energy-security\"},\"wordCount\":445,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/african-nations-to-benefit-from-europes-quest-for-energy-security#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/angola\/sites\/65\/2022\/04\/img-624dafde8a1ce.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Angola\",\"Angola\"],\"articleSection\":[\"all news\",\"files\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/angola\/all-news\/african-nations-to-benefit-from-europes-quest-for-energy-security#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/angola\/all-news\/african-nations-to-benefit-from-europes-quest-for-energy-security\",\"url\":\"https:\/\/www.africa-press.net\/angola\/all-news\/african-nations-to-benefit-from-europes-quest-for-energy-security\",\"name\":\"African nations to benefit from Europe\u2019s quest for energy security - 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