{"id":15270,"date":"2023-03-07T11:15:41","date_gmt":"2023-03-07T11:15:41","guid":{"rendered":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/afreximbanks-pushes-african-energy-investment-in-london"},"modified":"2023-03-07T11:41:29","modified_gmt":"2023-03-07T11:41:29","slug":"afreximbanks-pushes-african-energy-investment-in-london","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/afreximbanks-pushes-african-energy-investment-in-london","title":{"rendered":"Afreximbank\u2019s Pushes African Energy Investment in London"},"content":{"rendered":"

Africa-Press – Sierra-Leone. <\/strong><\/span>With Africa home to some of the world\u2019s largest oil and gas reserves \u2013 boasting over 125 billion barrels of proven crude oil reserves and 220 trillion cubic feet of proven gas reserves \u2013 major investment opportunities have arisen across gas exploration and monetization, gas-to-power, energy storage, infrastructure development.<\/p>\n

During a presentation by Afreximbank in London on March 2 and the group\u2019s executives unpacked Africa\u2019s hydrocarbon investment prospects and the key drivers of global oil and gas demand growth.<\/p>\n

The executives included Rene Awambeng, Global Head and Director for Client Relations, Eric Monchu Intong, Regional Chief Operating Officer for Anglophone West Africa, and Babajide Bode-Harrison, Senior Manager for Syndications,<\/p>\n

\u201cEnergy demand in Africa is expected to grow by 50% over the next two decades. This growing demand will create opportunities for decarbonized energy infrastructure projects, logistics, storage notably natural gas and LPG, that enable regional trade, and will create opportunities for renewable energy projects which will, in turn, increase energy security for Afreximbank member states,\u201d noted Mr Rene Awambeng, Global Head & Director Client Relations African Export Import Bank adding that, in order to ensure bankability, energy infrastructure projects will need to account for the energy transition.<\/p>\n

Major gas finds in Mozambique, Uganda, Tanzania, Egypt and Senegal \u2013 alongside flaring reduction activities across the continent, with a view to decarbonizing Africa\u2019s E&P sector \u2013 are expected to accelerate gas utilization and monetization activities. \u201cThese create opportunities for investments in LNG, FLNG trains and LPG for local industry and domestic consumption,\u201d Awambeng continued, referring to Africa\u2019s rapidly growing population associated with heightened industrialization and rising power demand.<\/p>\n

Monchu Intong, meanwhile, highlighted that Africa\u2019s downstream sector currently requires a significant amount of infrastructure development including pipelines, refineries and storage facilities \u2013 presenting an opportunity for investors to develop associated infrastructure and logistics projects.<\/p>\n

An increase in fossil fuel production and refining is expected over the next two decades. Pipelines to power stations to fertilizer plants, for example, will precipitate significant industrial development.<\/p>\n

Bode-Harrison pointed out that product import programs, partnership opportunities and trade finance programs were also key to unlocking development in Africa\u2019s hydrocarbons domain and presented strategic areas for collaboration.<\/p>\n

In response to the increasing refined product import needs of the continent, a more formalized process of aggregating, reorganizing and financing refined product supply has arisen, with Afreximbank working with NOCs to develop product import programs to ensure energy security. At present moment larger financing packages were required to meet Africa\u2019s rising product demand, especially in the current geopolitically-induced price increase environment.<\/p>\n

\u201cWith financing African oil and gas projects representing a point of debate globally, the African Energy Chamber remains resilient in its support for investing in African hydrocarbons, recognizing the role these resources will play in making energy poverty history by 2030. African-based organizations such as Afreximbank have remained committed to African people and African energy, and its support for Africa\u2019s energy future remains unwavering,\u201d stated NJ Ayuk, Executive Chairman of the African Energy Chamber.<\/p>\n

Investment into Africa\u2019s oil and landscape and its associated trade and partnership opportunities will be discussed at African Energy Week 2023, taking place in Cape Town from October 16-20. The event will unite African energy leaders, global investors, and executives from across the entire energy value chain to discuss the future of the African energy industry.<\/p>\n

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

Africa-Press – Sierra-Leone. With Africa home to some of the world\u2019s largest oil and gas reserves \u2013 boasting over 125 billion barrels of proven crude oil reserves and 220 trillion cubic feet of proven gas reserves \u2013 major investment opportunities have arisen across gas exploration and monetization, gas-to-power, energy storage, infrastructure development. During a presentation […]<\/p>\n","protected":false},"author":84,"featured_media":15269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[291,293,292],"class_list":["post-15270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-sierra-leone","tag-sierra-leone"],"yoast_head":"\nAfreximbank\u2019s Pushes African Energy Investment in London - Sierra Leone<\/title>\n<meta name=\"description\" content=\"With Africa home to some of the world\u2019s largest oil and gas reserves \u2013 boasting over 125 billion barrels of proven crude ...\" \/>\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\/sierra-leone\/all-news\/afreximbanks-pushes-african-energy-investment-in-london\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Afreximbank\u2019s Pushes African Energy Investment in London\" \/>\n<meta property=\"og:description\" content=\"With Africa home to some of the world\u2019s largest oil and gas reserves \u2013 boasting over 125 billion barrels of proven crude ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/afreximbanks-pushes-african-energy-investment-in-london\" \/>\n<meta property=\"og:site_name\" content=\"Sierra Leone\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-07T11:15:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-07T11:41:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2023\/03\/postQueueImg_1678175222.78.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/afreximbanks-pushes-african-energy-investment-in-london#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/afreximbanks-pushes-african-energy-investment-in-london\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Afreximbank\u2019s Pushes African Energy Investment in London\",\"datePublished\":\"2023-03-07T11:15:41+00:00\",\"dateModified\":\"2023-03-07T11:41:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/afreximbanks-pushes-african-energy-investment-in-london\"},\"wordCount\":572,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/afreximbanks-pushes-african-energy-investment-in-london#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2023\/03\/postQueueImg_1678175222.78.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Sierra-Leone\",\"Sierra-Leone\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/afreximbanks-pushes-african-energy-investment-in-london#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/afreximbanks-pushes-african-energy-investment-in-london\",\"url\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/afreximbanks-pushes-african-energy-investment-in-london\",\"name\":\"Afreximbank\u2019s Pushes African Energy Investment in London - 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