“We need to work together as a continent and with investors to make sure that we’re creating an enabling environment to develop green hydrogen projects”
NJ Ayuk, Executive Chairman of AEC (African Energy Chamber), speaking at the Invest in African Energy Reception
The Invest in African Energy Reception was recently held in Frankfurt on Thursday, 23rd February, sponsored by Centurion International AG, to bring together German stakeholders to discuss the potential for green hydrogen in Africa. Representatives from the Centurion Law Group and Centurion International AG were in attendance at the conference, which focused on themes such as securing new financing, fostering trade and investment between Africa and Europe, and attracting new players to Africa’s thriving oil, gas, and power markets.
This event, which was part of African Energy Chamber Week, highlighted the many opportunities and challenges facing the development of the African green hydrogen market. One of the keynote speakers at the reception was Executive Chairman of AEC (African Energy Chamber), NJ Ayuk, who emphasized the importance of collaboration between African countries and investors to build a sustainable green hydrogen industry. He stressed the need for Africa to take a holistic approach towards the development of green hydrogen, which includes exploring new technologies and building the necessary infrastructure to support the industry.
NJ Ayuk’s comments were echoed by other speakers, including representatives from Siemens Energy, the German Federal Ministry for Economic Affairs and Energy, and the German-African Business Association. They highlighted the potential of green hydrogen to drive economic growth and create jobs in Africa, while reducing carbon emissions and promoting sustainable development.
During the reception, participants discussed various green hydrogen projects in Africa, including the Gigawatt Mozambique green hydrogen project. This project aims to produce green hydrogen for export to Europe, which would significantly reduce Europe’s carbon footprint while providing Mozambique with a new revenue stream. Other projects include the South African Renewable Energy Masterplan, which aims to produce 28% of South Africa’s energy from renewable sources by 2030.
Despite the many opportunities, there are also significant challenges to the development of green hydrogen in Africa. One of the biggest challenges is the lack of infrastructure and expertise in the sector. In addition, the high costs associated with green hydrogen production and the lack of regulatory frameworks for the industry are also significant challenges that need to be overcome.
However, as the global demand for green energy increases, many see this as an opportunity for African countries to become major players in the green hydrogen market. With its abundant renewable energy resources and low-cost labor, Africa has the potential to become a leading producer and exporter of green hydrogen to other parts of the world.
Furthermore, the development of green hydrogen in Africa could provide a significant boost to the continent’s economy. According to a report by the International Renewable Energy Agency (IRENA), the deployment of renewable energy technologies, including green hydrogen, could create up to 4.5 million jobs in Africa by 2030.
Senegal’s COS-Petrogaz Calls for Enhanced German Investment in Africa’s LNG Sector
“Partnerships between African countries and international investors are key to unlocking the potential of the continent’s LNG industry”
Abdoul Diallo, CEO of COS-Petrogaz, speaking at the ‘Invest in Africa Energy Reception’
Senegal’s COS-Petrogaz has called for greater German investment in Africa’s LNG sector. Speaking at the African Energy Chamber Week, CEO Abdoul Diallo highlighted the potential for Germany to become a key partner in the development of Africa’s LNG industry, which is set to become a major source of energy in the coming years.
COS-Petrogaz is currently working on the development of the Grand Tortue Ahmeyim LNG project, which is a joint venture with BP and Kosmos Energy. The project, which is located offshore between Senegal and Mauritania, aims to produce up to 2.5 million tonnes of LNG per year.
During his address, Diallo emphasized the importance of creating partnerships between African countries and international investors to develop the continent’s LNG industry. He also highlighted the need for increased investment in infrastructure and technology to support the growth of the industry.
The potential for LNG in Africa is significant, with the continent estimated to have over 600 trillion cubic feet of natural gas reserves. In addition, the demand for LNG is expected to increase in the coming years, as countries around the world seek to reduce their carbon emissions and transition to cleaner energy sources.
Germany, which is one of the largest energy consumers in Europe, has already shown an interest in investing in Africa’s LNG industry. In 2018, German energy company RWE signed a memorandum of understanding with the Nigerian National Petroleum Corporation to explore the potential for LNG production in Nigeria.
In his speech, Diallo urged German companies to explore opportunities in other African countries as well, including Senegal, which has become a hub for the LNG industry in West Africa. He emphasized that partnerships between African countries and international investors are key to unlocking the potential of the continent’s LNG industry.
Overall, the Invest in African Energy Reception highlighted the potential for green hydrogen to transform the African energy sector and drive sustainable economic growth. With the right investments and collaboration between African countries and international investors, it is possible for Africa to become a major player in the global green hydrogen market. The call for greater German investment in Africa’s LNG sector highlights the potential for Africa to become a major player in the global LNG market. With the right investments and partnerships, the continent’s natural gas reserves could be harnessed to provide clean and reliable energy to both African countries and the wider world.
Centurion Plus
Are you an entrepreneur, a start-up or a SME with the goal to start up between or in Africa and Germany? Then our team will happily assist you on the legal side! We are specialized both in supporting multicultural businesses in Germany, in supporting African businesses in Germany and in supporting businesses across various African jurisdictions. While our support starts with providing help on immigration and relocation matters, it does not stop there – taxes, tech, intellectual property…You heard us! Contact us today to find out more!
