Africa-Press – Namibia. <\/strong><\/span>Energy minister Tom Alweendo has said Namibia and other developing nations should retain the right to exploit fossil fuel resources, despite ongoing global efforts to reduce greenhouse gas emissions.<\/p>\nKnown as energy transition, it refers to the global energy sector\u2019s shift from fossil-based systems of energy production and consumption, including oil, natural gas and coal, to renewable energy sources like wind and solar, as well as lithium-ion batteries.<\/p>\n
Alweendo was speaking during the Namibia-Korea energy and resource business forum that was held in the capital on Monday, emphasising the importance of tapping into the substantial oil and gas reserves recently discovered offshore in the Orange River Basin.<\/p>\n
\u201cYou\u2019ll hear that recently, we have discovered oil and gas. Although this discovery was made at a time when the energy transition discussion has reached its crescendo, we are still of the view that this is a resource that we need to exploit in such a way that it can improve our livelihood.<\/p>\n
\u201cAnd when we say that, it is not because we are denying the fact that there is climate change. It is simply to say that the energy transition that has been talked about has to be an energy transition that is just \u2013 just in the sense that countries that have resources, such as fossil fuel, should be allowed to use that resource.\u201d<\/p>\n
Despite acknowledging climate change concerns, Alweendo pointed out that developing countries like Namibia should not bear the sole responsibility for global warming.<\/p>\n
\u201cWe need to transition, but especially in developing countries like ours; we always say our contribution to emissions is very minimal. Even if we were to make use of all those resources, it would not even account for one per cent of the global emissions.\u201d<\/p>\n
Alweendo informed a South Korean business delegation that Namibia has embarked on a strategy to produce green hydrogen, stating that,<\/p>\n
\u201cWhen that happens, we can also affirm that we have been contributing to the solutions to address climate change\u201d.<\/p>\n
Sanghoon Lee, president of the Korea Energy Agency, praised Namibia and South Korea for their unwavering commitment to energy development.<\/p>\n
He highlighted South Korea\u2019s distinction as the first country in the world to establish a green hydrogen plant while acknowledging Namibia\u2019s leadership in the green hydrogen economy.<\/p>\n
He also mentioned Korea\u2019s launch of its first large-scale green hydrogen and ammonia manufacturing pilot project last year.<\/p>\n
To this, Alweendo said Namibia is willing to collaborate with like-minded foreign investors, who will aid in the industrialisation of the nation.<\/p>\n
Alweendo said Namibia has the mineral resources necessary for industrialisation but requires investment.<\/p>\n
Namibia, which is currently classified as an upper middle-income nation, has the ambition to become an industrialised country, the minister said.<\/p>\n
\u201cFor us to get there, we can\u2019t get there on our own. As we all know, we live in a globalised world, and we need to cooperate with other countries. We have the right ingredients, as this forum is about energy and resources, and those are some of the elements that we have that we believe can turn us into an industrialised nation,\u201d Alweendo said.<\/p>\n
The minister, however, called for a win-win partnership between the Korean investors and Namibian businesses, including the government.<\/p>\n
\u201cWhile we welcome you as investors, the only thing we would want to agree with you on is that, as investors, the investment is going to result in a win-win outcome, and that win-win outcome is really for us to become an industrialised nation,\u201d he added.<\/p>\n
On his part, Yoon Sang Jick, the presidential envoy and secretary general of the World Expo 2030 Busan, said the forum laid the groundwork for a relationship of lasting cooperation between Korea and Namibia.<\/p>\n
Yoon noted that South Korean businesses are not only looking for opportunities to exploit critical minerals, such as lithium and nickel, but to also add value to the host country.<\/p>\n
In addition to players in the refinery and battery cell production, Yoon, the former minister of trade, industry and energy, was accompanied by representatives from some of Korea\u2019s largest corporations, including Samsung and LG.<\/p>\n
On Sunday, Alweendo, who was speaking at the Swapo Party roundtable discussions in Keetmanshoop, said the prices of oil in the future will determine if the companies that have discovered oil in the Orange Basin will continue with oil production.<\/p>\n
He said oil prices fluctuate: currently, the price of oil is over US$100 per barrel, while at other times it goes down to US$20 per barrel.<\/p>\n
\u201cIf it goes down to US$20 before these companies have decided to invest, they may also decide to put their decision on hold because they will want to sell the oil to someone else \u2013 and if the price is that low, they might decide not to extract the oil \u2013 but so far, we are positive that will happen,\u201d he stressed.<\/p>\n
He said Namibians should understand there is no oil production happening yet, and it might take another five years for production to take place.<\/p>\n
Alweendo noted that the Namibian government, along with TotalEnergies and Shell, have agreed to establish an oil and gas institution for Namibians to get the necessary skills to ensure they participate in the oil and gas industry.<\/p>\n
\u201cWe know this is a new sector of the economy to us \u2013 and we might not have the skills needed, so we need to start from scratch. There are currently 270 people on average on the ship drilling; however, none of those are Namibians, as we do not have the skills yet, but I am informed there are 30 Namibians who are offering catering services to those on the ship,\u201d he added.<\/p>\n
Alweendo further said other services that Namibians can provide to the new industry include logistics, transportation, engineering services, accounting and legal services.<\/p>\n
\u201cThese are all services that we need to prepare ourselves for us to provide them too; now the issue is how prepared are the people of this region? Preparation is very important. Sometimes, we sit back and hope it will just happen; it will not if we do not prepare ourselves,\u201d he said.<\/p>\n
Meanwhile, oil and gas specialist and geoscience lecturer at the University of Namibia Southern Campus Martin Harris said Namibia needs to conduct skills mapping to identify what skills Namibians currently have and where the gaps are in terms of skills needed for the industry.<\/p>\n
\u201cLuckily, for us, we still have time because we have five to 10 years before we start production \u2013 so from now to then, we have the chance to fill up the skills gap so that when the industry gets running, we have competent and qualified people who can pick up opportunities in that industry,\u201d said Harris.<\/p>\n
For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Suzith Tjitaura Andreas Thomas Africa-Press – Namibia. Energy minister Tom Alweendo has said Namibia and other developing nations should retain the right to exploit fossil fuel resources, despite ongoing global efforts to reduce greenhouse gas emissions. Known as energy transition, it refers to the global energy sector\u2019s shift from fossil-based systems of energy production and […]<\/p>\n","protected":false},"author":84,"featured_media":52898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-52900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\n
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