{"id":62188,"date":"2024-03-04T15:54:11","date_gmt":"2024-03-04T15:54:11","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/great-promise-lies-ahead-for-africa-in-gas-exports-cef-boss"},"modified":"2024-03-04T16:11:22","modified_gmt":"2024-03-04T16:11:22","slug":"great-promise-lies-ahead-for-africa-in-gas-exports-cef-boss","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/great-promise-lies-ahead-for-africa-in-gas-exports-cef-boss","title":{"rendered":"Great promise lies ahead for Africa in gas exports \u2013 CEF boss"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Central Energy Fund (CEF) CEO Ishmael Poolo said the gas market on the African continent presented an opportunity for nations to develop their economies, increase access to power and dramatically reduce emissions over the next five years.<\/p>\n

He was addressing the Africa Gas Forum in Cape Town on Monday. His address comes as heavy users of liquefied natural gas (LNG) dread the risk of the country running out of industrial gas supplies by 2026.His speech, titled \u201cAn unapologetic future for gas in Africa,\u201d outlined a boom scenario in which Africa took advantage of its gas resources to industrialise, and a bust scenario where the gas market continues to operate at the expense of the continent\u2019s development.<\/p>\n

He said with its abundance, lower emissions and relative affordability, gas presented a \u201cboom scenario\u201d for Africa with a feasible solution to energy scarcity, the climate crisis and poverty alleviation in the coming decades.<\/p>\n

\u201cThe International Energy Agency estimates that doubling Africa\u2019s gas consumption from 90bn cubic metres per year by 2030 for the fertiliser, steel, cement, and water desalination industries would generate cumulative carbon dioxide emissions of 10 gigatons. This would increase Africa\u2019s share of global emissions from 3% today by a mere 0.5% in 2050,\u201d he said.<\/p>\n

He said the US, the largest LNG exporter in the world, was choosing to keep its gas rather than export it while Africa\u2019s LNG export capacity is estimated to increase from 78m tonnes per annum from 2023 to about 145m tonnes per annum by 2030.<\/p>\n

However, he said while the \u201cboom\u201d scenario paints the picture of a \u201cgolden age fuelled by gas-powered industries and exports\u201d and rapid economic growth, the \u201cbust\u201d scenario features medium-term gas dependency increasing vulnerability to global market volatility.<\/p>\n

Another risk was the potential failure to monetise gas resources in pursuit of solar PV and battery energy storage systems, leaving Africa as net importers of energy technology, with limited localisation and beneficiation.<\/p>\n

Poolo said Africa must ensure it does not only export the energy, but also uses it for local manufacturing, stressing: \u201cWe must not, we cannot, sleep walk into this kind of future again.<\/p>\n

\u201cGas is too valuable a commodity to be considered solely for LNG export, gas to liquids or gas to power. To properly monetise gas, we need to develop our gas grid to the extent that consumers are able to select gas as a safer, cleaner, more reliable and cost competitive alternative to other energy sources.\u201d<\/p>\n

Poolo said discoveries of gas around the continent, including Brulpadda and Luiperd in South Africa, Rovuma basin, Mozambique, Tanzania, Orange Basin in Namibia and onshore developments like Renergen present an opportunity to the region to accelerate its development.<\/p>\n

\u201cWe may wax lyrical over the abundance of recent high quality gas discoveries across Southern Africa. But the key questions for us are will gas be a defining economic stimulus for the region? Will these discoveries be monetised and provide lucrative returns to the host governments and exploration and production partners?\u201d he asked.<\/p>\n

He said gas consumption in the SADC region may take off due to the discoveries over the next decade but a risk lingered that integrated oil companies design their projects in the region for maximum export with a \u201csprinkling\u201d of support for the domestic market.<\/p>\n

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

Africa-Press – South-Africa. Central Energy Fund (CEF) CEO Ishmael Poolo said the gas market on the African continent presented an opportunity for nations to develop their economies, increase access to power and dramatically reduce emissions over the next five years. He was addressing the Africa Gas Forum in Cape Town on Monday. His address comes […]<\/p>\n","protected":false},"author":84,"featured_media":62187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-62188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nGreat promise lies ahead for Africa in gas exports \u2013 CEF boss - South Africa<\/title>\n<meta name=\"description\" content=\"Central Energy Fund (CEF) CEO Ishmael Poolo said the gas market on the African continent presented an opportunity for na ...\" \/>\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\/south-africa\/all-news\/great-promise-lies-ahead-for-africa-in-gas-exports-cef-boss\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Great promise lies ahead for Africa in gas exports \u2013 CEF boss\" \/>\n<meta property=\"og:description\" content=\"Central Energy Fund (CEF) CEO Ishmael Poolo said the gas market on the African continent presented an opportunity for na ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/great-promise-lies-ahead-for-africa-in-gas-exports-cef-boss\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-04T15:54:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-04T16:11:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/03\/sm_1709555965.443864.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"354\" \/>\n\t<meta property=\"og:image:height\" content=\"367\" \/>\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\/south-africa\/all-news\/great-promise-lies-ahead-for-africa-in-gas-exports-cef-boss#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/great-promise-lies-ahead-for-africa-in-gas-exports-cef-boss\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Great promise lies ahead for Africa in gas exports \u2013 CEF boss\",\"datePublished\":\"2024-03-04T15:54:11+00:00\",\"dateModified\":\"2024-03-04T16:11:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/great-promise-lies-ahead-for-africa-in-gas-exports-cef-boss\"},\"wordCount\":564,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/great-promise-lies-ahead-for-africa-in-gas-exports-cef-boss#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/03\/sm_1709555965.443864.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/great-promise-lies-ahead-for-africa-in-gas-exports-cef-boss#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/great-promise-lies-ahead-for-africa-in-gas-exports-cef-boss\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/great-promise-lies-ahead-for-africa-in-gas-exports-cef-boss\",\"name\":\"Great promise lies ahead for Africa in gas exports \u2013 CEF boss - 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