Latest news with #CoralNorth
IOL News
22-04-2025
- Business
- IOL News
Africa's gas and liquified gas potential: tapping opportunities for sustainable growth
As Africa's gas and LNG potential continues to grow, African Energy Week: Invest in African Energies 2025 will highlight key opportunities and challenges in unlocking the continent's vast energy resources, driving economic growth and advancing energy security. Africa's natural gas and LNG potential is a cornerstone of the continent's energy future. According to the African Energy Chamber's (AEC) State of African Energy 2025 Outlook Report, Africa's gas reserves could support a fourfold increase in LNG exports by 2040. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Gas-to-power initiatives offer a vital solution to the continent's electricity access challenges while also providing a pathway to monetise, underutilised gas resources. With the right investments and collaborative efforts, Africa is poised to unlock the full potential of its gas sector, driving economic growth and energy security. Several large-scale projects are driving Africa's gas potential, with LNG exports seen as a critical part of the continent's energy future. Africa has the capacity to increase its LNG export capacity almost fourfold by 2040, says the AEC's report, with a projected 175 million tons of LNG per year. Currently, Africa's LNG exports stand at around 40 million tons, suggesting massive room for growth. Mozambique, a major growth driver for the continent's LNG sector, has the potential to achieve LNG export capacity of up to 50 million tons by 2040, though this potential has been tempered by security concerns, particularly in onshore areas. These challenges have led companies to look toward smaller offshore floating LNG (FLNG) solutions. For example, Eni's Coral North FLNG project in Mozambique is being developed incrementally as an offshore solution, though it remains smaller in scale than the onshore alternatives. Other key projects include significant developments in Senegal and Mauritania. These nations are set to become major LNG exporters, with developments such as the Greater Tortue Ahmeyim (GTA) project – co-led by bp and international partners – expected to play a pivotal role in the continent's LNG growth, especially as it progresses to its second phase. While the path to realising Africa's gas and LNG potential presents challenges, there are significant opportunities for growth. Developing both domestic and export markets is crucial to fully unlocking the continent's gas resources. Large-scale pipeline projects, such as the West African Gas Pipeline and Trans-Saharan Gas Pipeline, could play a vital role in connecting African gas to additional markets, including Europe. Although these projects face financing and political complexities, successful collaboration and strategic investments can pave the way for their advancement, unlocking new economic opportunities and expanding Africa's energy reach. Security remains one of the most significant risks, particularly in regions like Mozambique, where insurgencies have already disrupted major projects. While offshore FLNG projects, such as Coral North, provide a more flexible and secure option, they also come with higher capital costs and reduced production capacity compared to onshore facilities. Africa's growing role in the global energy market, along with its proximity to key international markets, positions it as a critical player in the future of natural gas. The Chamber's report emphasises that Africa's gas potential can be fully realised with the right investments, including de-risking strategies, improved regulatory frameworks, and greater collaboration among governments, industry stakeholders, and financiers. This year's African Energy Week (AEW): Invest in African Energies conference provides a platform for addressing challenges and opportunities within Africa's gas and LNG sector and discussing strategies for unlocking Africa's full energy potential. - Africa Energy Chamber
Zawya
17-04-2025
- Business
- Zawya
Africa's Gas & Liquefied Natural Gas (LNG) Potential: Tapping Opportunities for Sustainable Growth
Africa's natural gas and LNG potential is a cornerstone of the continent's energy future. According to the African Energy Chamber's (AEC) ( State of African Energy 2025 Outlook Report, Africa's gas reserves could support a fourfold increase in LNG exports by 2040. Gas-to-power initiatives offer a vital solution to the continent's electricity access challenges, while also providing a pathway to monetize underutilized gas resources. With the right investments and collaborative efforts, Africa is poised to unlock the full potential of its gas sector, driving economic growth and energy security. Major Projects Driving Africa's Gas Potential Several large-scale projects are driving Africa's gas potential, with LNG exports seen as a critical part of the continent's energy future. Africa has the capacity to increase its LNG export capacity almost fourfold by 2040 – says the AEC's report – with a projected 175 million tons of LNG per year. Currently, Africa's LNG exports stand at around 40 million tons, suggesting massive room for growth. Mozambique, a major growth driver for the continent's LNG sector, has the potential to achieve LNG export capacity of up to 50 million tons by 2040, though this potential has been tempered by security concerns, particularly in onshore areas. These challenges have led companies to look toward smaller offshore floating LNG (FLNG) solutions. For example, the Eni's Coral North FLNG project in Mozambique is being developed incrementally as an offshore solution, though it remains smaller in scale than the onshore alternatives. Other key projects include significant developments in Senegal and Mauritania. These nations are poised to become major LNG exporters, with developments such as the Greater Tortue Ahmeyim (GTA) project – co-led by bp and international partners – expected to play a pivotal role in the continent's LNG growth, especially as it progresses to its second phase. Risk Factors and Investment Outlook While the path to realizing Africa's gas and LNG potential presents challenges, there are significant opportunities for growth. As noted in the report, developing both domestic and export markets is crucial to fully unlocking the continent's gas resources. Large-scale pipeline projects, such as the West African Gas Pipeline and Trans-Saharan Gas Pipeline, could play a vital role in connecting African gas to additional markets, including Europe. Although these projects face financing and political complexities, successful collaboration and strategic investments can pave the way for their advancement, unlocking new economic opportunities and expanding Africa's energy reach. Security remains one of the most significant risks, particularly in regions like Mozambique, where insurgencies have already disrupted major projects. While offshore FLNG projects, such as Coral North, provide a more flexible and secure option, they also come with higher capital costs and reduced production capacity compared to onshore facilities. AEW 2025 to Highlight Growth Opportunities Africa's growing role in the global energy market, along with its proximity to key international markets, positions it as a critical player in the future of natural gas. The Chamber's report emphasizes that Africa's gas potential can be fully realized with the right investments, including de-risking strategies, improved regulatory frameworks and greater collaboration among governments, industry stakeholders and financiers. This year's African Energy Week (AEW): Invest in African Energies conference provides a vital platform for addressing challenges and opportunities within Africa's gas and LNG sector, and discussing strategies for unlocking Africa's full energy potential. With investment in gas and LNG projects continuing to grow, AEW 2025 offers a strategic opportunity to showcase the continent's progress, identify investment gaps and promote collaboration among governments and the private sector to mitigate risks. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
07-03-2025
- Business
- Zawya
African National Oil Companies (NOC) Drive Exploration and Production Through IOC Collaboration
Africa's national oil companies (NOC) are moving beyond operating as state-representatives by transforming themselves into competitive upstream players. By strengthening their balance-sheets through partial privatization, transferring their regulatory roles to independent entities and acquiring more assets, NOCs are emerging as strong partners for foreign firms. Boosting Production Major oil producers in Africa are striving to boost production and NOC-IOC collaboration is at the forefront. Libya's NOC is working with IOCs Repsol, bp, TotalEnergies, ConocoPhillips and more to increase output to two million barrels per day (bpd). In collaboration with the NOC, TotalEnergies has achieved a 20% increase in production at the Waha field; Repsol plans to drill nine new prospects in 2025; while Eni is planning four exploration wells in 2025. Algeria's Sonatrach will increase hydrocarbon production by 2.5% this year, actively pursuing international partnerships following a revision of its Hydrocarbons Law in 2029. Negotiations are underway with ExxonMobil and Chevron to boost exploration. These efforts reflect a broader trend across the continent, where NOCs are leaning on foreign partnerships to advance oil and gas production. Advancing Gas Monetization Amid a surge in gas monetization, Africa has emerged as a major LNG producer. Collaboration between NOCs and IOCs have been at the forefront of this gas drive, leading to the emergence of new LNG exporters. Senegal's Petrosen and Mauritania's SMH worked alongside bp and Kosmos Energy to develop the Greater Tortue Ahmeyim LNG project – situated on the maritime border of the two countries and producing first LNG in January 2025. Mozambique's ENH is working closely with foreign operators to develop several LNG projects, including TotalEnergies (Mozambique LNG); ExxonMobil (Rovuma LNG) and Eni (Coral South and Coral North). The 3.4 mtpa Coral South FLNG project has been operating since 2022 while ExxonMobil plans to make FID on Rovuma LNG in 2026. The Tanzania Petroleum Development Corporation is developing the Tanzania LNG project, working with Shell and Equinor to monetize resources in Blocks 1, 2 and 4. While development has been delayed, the operators remain committed to collaboratively bringing the project online. In Angola, which has been an LNG producer since 2013, the NOC Sonangol is working with its New Gas Consortium partners Azule Energy, Cabinda Gulf Oil Company and TotalEnergies to increase LNG production capacity. The partners completed the offshore platform for Angola's first non-associated gas project in February 2025, with production on track for early-2026. Unlocking New E&P Markets A slate of discoveries in recent years have opened up new oil and gas plays across the continent. Following an increase in its oil and gas budget from $120 million to $246 million for the 2024/2025 period, the Uganda National Oil Company (UNOC) is driving exploration across underexplored areas in the country. In partnership with TotalEnergies and CNOOC, the company will start production at the Kingfisher and Tilenga oilfields in 2025. UNOC is also advancing exploration in the Moroto-Kyoga basins, with preliminary studies aimed at uncovering new oil fields. In Namibia, NAMCOR is working with IOCs toward first oil production from the Orange Basin by 2029. Major projects include the Mopane field, which made its third discovery last month, and the Venus field, which targets FID in 2026. The company aims to secure higher stakes in future oil and gas projects – increasing its share from the minimum 10% to between 20-30% - underscoring a commitment to greater participation in field development. Meanwhile, the South Africa National Petroleum Company (SANPC) – launched in September 2024 – strives to facilitate greater investment in exploration, natural gas monetization and infrastructure development. While major gas deposits were found in the Outeniqua Basin in 2019 and 2020, operational challenges have impacted development. The SANPC seeks to address these challenges through IOC collaboration and foreign investment. The company also strives to unlock the potential of the Orange Basin. Fostering Collaboration at African Energy Week 2025 As the largest energy event in Africa, African Energy Week: Invest in African Energies facilitates collaboration between Africa's NOCs and international operators. Taking place in Cape Town from September 29 to October 3, 2025, the event offers a platform for strategic dialogue, networking and dealmaking. 'African NOCs are driving the continent's next wave of innovative oil and gas developments. By partnering with global operators and strengthening their operational capacity, NOCs are not only driving projects forward but showcasing the competitiveness of African operators,' states Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
18-02-2025
- Business
- Zawya
Mozambique's Gas Potential Crucial for Africa's Economic Transformation
Mozambique stands out as a key player in natural gas production and plays a crucial role in Africa's agenda to expand electricity access and clean cooking solutions, according to NJ Ayuk, Executive Chairman of the African Energy Chamber ( Ayuk highlighted key projects, market trends and policies accelerating Mozambique's energy sector and position as a global energy hub during an interview at the Invest in African Energy: Mozambique Roundtable last week. 'No other country in Sub-Saharan Africa has as much untapped and unexplored gas as Mozambique. We are encouraging the government, the IOCs and investors to ensure every drop of hydrocarbons is produced to drive agricultural growth, strengthen energy security and enhance socio-economic development,' Ayuk stated. He mentioned ExxonMobil's $25 billion investment in the Rovuma LNG initiative, Eni's Coral Sul expansion with the Coral North project and TotalEnergies' ongoing efforts in the multi-billion-dollar Mozambique LNG project, as key projects driving Mozambique's energy expansion. 'These developments, coupled with gas-to-power and petrochemical projects, signal Mozambique's readiness to attract new investors and further integrate into the global energy market,' stated Ayuk. While renewables contribute to diversifying the energy mix, the intermittency nature of wind and sun energy makes gas a more reliable energy resource for resilient baseload power, according to Ayuk. He also emphasized Mozambique's ability to produce urea and ammonia from its gas reserves, bolstering food security and reducing Africa's dependence on external markets like Ukraine. Ayuk said the energy sector could serve as a platform to empower local communities, females and the youth as active industry participants not mere bystanders. Expanding on local content development, Ayuk praised Mozambique's commitment to utilizing its gas resources for domestic needs. He recognized the country's gas-to-power strategy and the inclusion of SMEs within the energy value chain. He encouraged the government to streamline regulations, eliminate bureaucratic bottlenecks and introduce new licensing rounds to unlock the market's full potential. Ayuk also underscored the importance of collaboration between Mozambican stakeholders and other African nations to position the continent as a competitive and attractive investment destination. Watch for video interview: Distributed by APO Group on behalf of African Energy Chamber. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event.
Zawya
14-02-2025
- Business
- Zawya
ExxonMobil Showcases $20M Local Content Investment During African Energy Chamber's (AEC) Mozambique Roundtable
Global energy major, ExxonMobil has invested over $20 million in Mozambique as part of its local content development strategy since 2017 and plans to direct more investments in the local economy through upcoming projects, according to Armando Afonso, Public&Government Affairs Manager, ExxonMobil Mozambique. Speaking at the Invest in African Energies: Mozambique Roundtable, organized by the African Energy Chamber and the Mozambique Energy Chamber, Afonso said expanding opportunities within Mozambique's oil and gas sector are strengthening ExxonMobil's commitment to local content investments. Afonso highlighted the vast reserves in Area 4, the country's prime location and strategic market access, and the Rovuma LNG project's low-emissions profile as key drivers of ExxonMobil's commitment. He also highlighted the potential for integrating renewable energy sources such as solar, wind and hydrogen production within the Area 4 project. 'With the ramp-up of the Rovuma LNG project, our impact on local content will continue to grow, creating opportunities across the entire economy,' he stated. 'Even though we are not yet in production, we have already positioned ourselves as a leader in local content with our Primary Center training local SMEs and our supplier portal enabling local businesses to register and partner with us.' Adding to the discussion Valerio Parasiliti Parracello, Exploration Manager at Eni Mozambique pointed out that while the company currently produces from only six wells at the Coral South project, significant opportunities exist for further expansion. 'With Coral North and onshore projects, we see great potential to expand our portfolio and production in Mozambique,' he said. Christelle Demars, Geoscience&Reservoir Manager for TotalEnergies' Mozambique LNG Project, emphasized the high-quality gas resources in the Rovuma Basin as a major attraction for the company. 'In just one area, we have 65 trillion cubic feet of gas, which will unlock enormous opportunities for Mozambique,' she stated. She said TotalEnergies will supply gas to the local market as part of its agreement with the government and local content development strategy. Distributed by APO Group on behalf of African Energy Chamber.
