Home Business News Investment: Top four highlights from the invest in African energy (IAE) forum in Paris 2023

Investment: Top four highlights from the invest in African energy (IAE) forum in Paris 2023

by LLB Finance Reporter
13th Dec 23 7:15 am

The first edition of Invest in African Energy (IAE) in Paris, organized last June, successfully catalyzed European interest in Africa’s burgeoning energy sector.

The forum united thought leaders, government officials, key stakeholders and industry representatives from both continents and came on the heels of three European receptions that took place in London, Oslo and Frankfurt.

In anticipation of IAE 2024 taking place in Paris next May, below are the top four highlights from the first edition of the forum to which delegates can look forward to.

Ministerial presentations

The first-ever IAE featured ministerial presentations from Namibia, the Republic of the Congo (ROC) and the Democratic Republic of the Congo (DRC).

Namibia’s Minister of Mines and Energy, Tom Alweendo, highlighted the country’s strategy to leverage capital from oil and gas stakes to develop local content capacity. Bruno Jean-Richard Itoua, ROC Minister of Hydrocarbons, shared insights into gas and marginal field assets, urging companies to explore the diverse exploration opportunities in the Congolese oil industry.

DRC Minister of Hydrocarbons, Didier Budimbu Ntubuanga, emphasized the country’s untapped hydrocarbon potential, including production sharing contracts for three gas blocks in Lake Kivu, and underscored the need for new investments in the nation’s oil resources.

Deal signing between ROC and Technip Energies

During the forum, Congo-Brazzaville signed a cooperation agreement with French energy services provider, Technip Energies, focused on enhancing capacities in on- and offshore energy developments. Under the agreement, Technip Energies will provide expertise in energy transition strategies, encompassing LNG, zero-carbon solutions and decarbonization.

The deal specifically includes process engineering, onshore platforms and the development of offshore oil and gas fields, as ROC seeks to expand its energy market.

Renewed Africa-Europe collaboration

IEA 2023 served as a platform to foster collaboration between African energy projects and European investors.

With a focus on building strategic partnerships, the forum created an environment conducive to dialogue and cooperation between the two continents, facilitating in-depth discussions spanning the entire energy value chain.

From upstream exploration to downstream infrastructure development, the forum provided a comprehensive overview of Africa’s key investment prospects, focusing primarily on renewables, power generation, transmission, grid innovation, energy efficiency and storage solutions.

Namibia-France academic cooperation

Namibia’s Ministry of Mines and Energy engaged in discussions with French public research university, Sciences Po, on the sidelines of IAE 2023, with the goal of strengthening academic cooperation in the energy sector.

Both parties emphasized the role of academic inclusion, opportunity and training in advancing Namibia’s energy agenda. Discussions included plans for capacity building, formal partnerships for student exchange, high-level workforce training and on-the-ground experience.

Precursor to IAE 2024

The upcoming IAE 2024 – organised by Energy Capital & Power with support from the African Energy Chamber – is scheduled to take place next May 14–15 in Paris.

Expanded to a two-day program, the forum unites leading industry experts and policymakers from Africa and Europe, with a view to accelerating sustainable energy solutions.

Attendees can expect exclusive insights into upcoming projects across Africa’s energy hotspots, as well as personalized B2B matchmaking services that facilitate meaningful connections among investors, service providers and key players within Africa’s energy supply chain.

The forum will offer a unique platform for participants to establish mutually beneficial relationships, foster collaboration and create new opportunities for partnership.

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