- Net metering was replaced with net invoicing on January 1, 2024, applicable to small producers with installations for personal consumption.
- A fixed rate for 15 years is available for photovoltaic plants up to 1 Megawatt and wind farms up to 4 Megawatts.
- A fixed price, also valid for 15 years, applies to photovoltaic plants larger than 1 Megawatt and wind farms larger than 4 Megawatts.
Moldova Sets Ambitious Targets For Renewable Energy Transition
The Republic of Moldova has unveiled an ambitious plan to boost renewable energy production by offering a comprehensive set of investment incentives aimed at attracting foreign investors.
Key measures include priority access to connection approvals for auction winners, long-term fixed-rate contracts for up to 15 years, and support mechanisms for both small and large-scale producers.
The government has also secured significant external financing from international partners such as the EBRD and USAID to expand its energy infrastructure.
With upcoming tenders for wind and solar projects, Moldova is creating a favorable environment for investors to capitalize on its growing renewable energy market
The Importance of Renewable Energy for Moldova
Moldova’s renewable energy strategy is a crucial step toward energy independence and sustainability.
The country’s energy landscape has shifted considerably since 2022, following the conflict in Ukraine. As a result, Moldova rapidly connected to the European energy system and reduced its reliance on Russian energy supplies.
The capital, Chișinău, is at the forefront of efforts to boost green energy production, marking a significant shift in the country’s energy policy. The Moldovan government recognizes the importance of energy security, and renewable energy is seen as a key solution to achieving both independence and a greener future.
Moldova’s 2030 Renewable Energy Targets
By 2030, Moldova aims to produce at least 30% of its electricity from renewable sources.
The government has also set a goal to reduce greenhouse gas emissions by 70% compared to 1990 levels.
As part of this strategy, Moldova is set to join the International Solar Energy Alliance (ISA), aligning itself with 98 countries committed to expanding solar energy production.
In addition to these goals, Moldova has secured significant external financing, including tens of millions of US dollars from the European Bank for Reconstruction and Development (EBRD) and the U.S. Agency for International Development (USAID).
This funding will support the construction of 300-kilometer energy interconnection lines with Romania, enhancing Moldova’s national energy system’s reliability and import/export capacity.
Since March 2022, Moldova’s electricity system has been operating in parallel with Romania’s, following the implementation of new infrastructure that has strengthened the security and reliability of the national power grid. This development has also increased Moldova’s capacity for electricity imports and exports through the Moldova-Romania interconnection, enhancing the overall stability of the energy supply.
Auctions and Business Opportunities in Renewable Energy
Moldova is also opening its renewable energy market to large-scale investors through a series of tenders for renewable energy projects. The Ministry of Energy in Chișinău has announced that offers for these tenders will be accepted from September 2024 to January 2025.
The Ministry has implemented measures to facilitate investor participation, including prioritizing connection approvals for large-scale renewable energy producers who win the auction. Additionally, new legislation is being developed to ensure competitiveness and efficiency in the approval process.
“Not all investors will have the necessary connection approvals when they submit their auction bids. As an initial solution, we will prioritize granting connection approvals to large eligible producers who are selected as winners of the auction”, said Carolina Novac, State Secretary at the Ministry of Energy.
“Additionally, when new connection approvals become available, these producers will be placed at the top of the waiting list.”
In the long term, the Ministry of Energy plans to amend the electricity legislation to introduce a guarantee of good execution — capacity reservation — as a requirement for obtaining connection approval.
“This provision is necessary to ensure both competitiveness and the proper organization of the process”, Novac emphasized.
In 2023, the Ministry made significant changes to the promotion of renewable energy. The government introduced three key support mechanisms for green energy producers, guaranteeing the purchase of surplus energy delivered to the grid, helping them recover their investments:
Sinclair Returns As Sankofa Acquires AOW Energy Event
Sankofa Events, led by respected energy executive Paul Sinclair – has acquired the AOW industry event – previously known as Africa Oil Week.
With the AOW acquisition, Sinclair returns to take the helm of the summit that he helped build into Africa’s leading oil, gas and energy event and a crucial deal-making environment for governments and energy businesses alike.
“I am proud and excited to lead AOW – an event I have much history with and a powerful brand I firmly believe in,” said Sinclair.
“AOW has made extraordinary progress over the past few years, and I am determined to build on that and develop it even further. I look forward to seeing my friends from the African oil, gas and energy sector at the upcoming event in October.”
The next AOW conference, titled AOW: Investing In African Energy, starts on October 7 in Cape Town, South Africa.
For the past nine years, AOW has been managed by international exhibition and conference company Hyve Group.
Hyve will remain on board until after this year’s event – the 30th edition of AOW – to provide support for Sankofa.
“Paul knows the event extremely well, believes concretely in AOW’s purpose, and has an excellent knowledge of the sector,” said Hyve Group CEO Mark Shashoua. “Hyve will support Paul over the coming months, to ensure continuity for the AOW community. We are fully committed to delivering another fantastic event.”
Sinclair has deep networks across the global oil, gas and industry. He served as vice president: energy for Africa Oil Week from 2017 – 2023, and also helped to launch the Green Energy Africa Summit, which has subsequently become part of the consolidated AOW event.
He reassured investors that the conference will continue to provide a dedicated, vitally important engagement and dealmaking space for oil and gas stakeholders – particularly upstream players – offering engagement activities and opportunities for governments.
“We are excited about the growth possibilities of this powerful property,” said Sinclair. “AOW already adds significant value to the energy sector, facilitating deal flow, partnerships and business growth in the African oil and gas space, as well as supporting the energy transition. We look forward to growing that impact, for the benefit of all stakeholders in the industry.”
Source: https://energynewsafrica.com
OPEC+ Countries Extend Voluntary Cuts
The OPEC+ countries, which previously announced additional voluntary cuts in April and November 2023 have emphasized their collective resolve to ensure full compliance with the voluntary production adjustments.
The group includes Iraq Saudi Arabia, Russia, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman held a virtual meeting on September 5th, 2024.
In August 2024, Saudi Arabia, Russia, the United Arab Emirates, Kuwait, Algeria, and Oman, conducted two ministerial discussions with Iraq and Kazakhstan.
Both countries were urged to achieve full conformity and compensate for the overproduced volumes since January 2024.
Iraq and Kazakhstan committed to engage with secondary sources to outline their plans for production adjustments to achieve compliance and meet the compensation schedules they submitted to the OPEC Secretariat on August 22nd.
Iraq and Kazakhstan reinforced their commitment during the OPEC Secretary General’s visits in late August, conducted in coordination with Saudi Arabia’s Minister of Energy and the Chairman of the OPEC and non-OPEC Ministerial Meetings.
During those visits, the OPEC Secretariat organized workshops with the secondary sources where both countries provided extensive details on the immediate and concrete measures they are implementing to achieve full conformity with the required production levels and to meet their compensation schedules for August and for September.
These measures included advancing field maintenance plans and reducing production alongside with delaying and canceling spot sales for the month of August.
Moreover, the countries committed to adjust compensation plans for any over produced volumes in August.
In recognition of this strengthened resolve and renewed firm commitment, the eight participating countries have agreed to extend their additional voluntary production cuts of 2.2 million barrels per day for two months until the end of November 2024, after which these cuts will be gradually phased out on a monthly basis starting December 1st, 2024, according to the attached schedule, with the flexibility to pause or reverse the adjustments as necessary.
The overproducing countries also reconfirmed their commitment that the entire overproduced volume will be fully compensated for by September 2025.
Source: https://energynewsafrica.com
Kenya: Kenya Power Restores Power Supply In Parts Of Kenya After Outage On Friday Morning
Kenya’s power utility company, Kenya power has announced restoration of power supply to some parts of the country that experienced power outage on Friday morning.
At about 9:20 am on Friday, Kenya Power in a statement informed the country that it was experiencing power outage affecting several parts of the country, except sections of North Rift and Western Regions.
However, in an update issued at about 11:55 a.m., the company said it has restored power supply to parts of North Rift, Western, Central Rift, Nairobi and Mt. Kenya.
The company apologized to Kenyans, especially those in the affected areas for the inconveniences caused by the outage.
It appealed to residents in areas that are experiencing outage to exercise patience as work is ongoing to restore power supply to them.
Source: https://energynewsafrica.com
Ghana: Fuel Prices Fall For The Third Time
Oil Marketing Companies in the Republic of Ghana have reduced the pump prices of both petrol and diesel for the first pricing window of September, which runs from the 1st to the 15th of September 2024.
This is the third conservative time that fuel prices have been reduced as a result of the decline in the prices of refined petroleum products on the international market.
A litre of petrol sells between Gh¢13.31 and Gh¢14.35 per litre, while diesel sells between Gh¢13.57 and Gh¢14.70 per litre.
Unlike other parts of Africa where fuel prices are reviewed every month, in Ghana, fuel prices are reviewed every two weeks.
The reduction in fuel prices is a result of a reduction in refined petroleum products on the international market.
Forex (exchange rate) which is also one key determinant of cost ex-pump price of fuel has also seen some stabilisation, with a dollar being exchanged for Gh¢15.73
Data from the National Petroleum Authority, the petroleum downstream regulator, showed that the price of refined petroleum products -petrol and diesel went down.
NPA’s estimates showed that petrol price decreased to US$779.10 from US$794.58 per metric tonne while diesel price decreased to Gh¢712.88 from US$720.20 per metric tonne for the second pricing window of August 31.
Crude oil prices also witnessed some decreases during the second window of August, with Brent falling from $84 to $ 79 per barrel and WTI falling from $75 to $73 per barrel.
Currently, GOIL is selling petrol (Ron 91) at Gh¢14.16 per litre while petrol (Ron 95) is sold at Gh¢15.66, with diesel being sold at Gh¢14.99 per litre.
Shell is selling petrol at Gh¢14.35 per litre while diesel is sold at Gh¢14.70 per litre.
TotalEnergies is selling petrol at Gh¢14.25 while diesel is sold at Gh¢14.70 per litre.
Star Oil is selling petrol at Gh¢13.31 per litre while diesel is sold at Gh¢13.57 per litre.
Petrosol Ghana is selling petrol at Gh¢13.95 while diesel is sold at Gh¢14.55 per litre.
Zen Petroleum is selling petrol at Gh¢13. 31per litre while diesel is sold at Gh¢13.57per litre.
Lucky Oil is selling petrol at Gh¢13.31 per litre while diesel is sold at Gh¢13.57 per litre.
Allied is selling petrol at Gh¢13.31 while diesel is sold at Gh¢13.57 per litre.
Pacific is selling petrol at Gh¢14.39 per litre while diesel is sold at Gh¢14.79 per litre.
Engen Ghana is selling petrol at Gh¢14.10 while diesel is sold at Gh¢14.60 per litre.
Benab is selling petrol at Gh¢13.31 while diesel is sold at Gh¢13.57 per litre.
Source: https://energynewsafrica.com
Nigeria: SCADA System Will Be Operational In Q4, 2024–TCN
Nigeria’s power transmission company (TCN) has assured its customers that the Supervisory Control and Data Acquisition (SCADA) system that will effectively monitor and control field devices will be operational in the fourth quarter of 2024.
SCADA systems are used for controlling, monitoring and analysing industrial devices and processes.
Speaking to the press at the weekend, Sule Abdulaziz, the Managing Director of TCN, said the SCADA implementation had reached about 60 per cent completion and is expected to be completed by the last quarter of 2024.
He said that all the machinery offshore had been shipped into the country, adding that engineering and design works were ongoing, as reviews and modifications were being made continuously as the equipment was being installed.
“About 70 per cent of the equipment has been delivered to various sites and mounted in the substations’ control rooms across the country.”
He also said that configuration, integration and interconnection of these pieces of equipment commenced in July.
“By middle of July, part of the grid was seen on the new SCADA system and this will be continuously expanded to other parts of the network.
“TCN has done a lot in terms of revamping transmission equipment nationwide; several sub-stations have been expanded, new transformers have been installed, others upgraded, and transmission lines projects have equally been executed.
“All these have contributed to increasing TCN’s wheeling capacity to 8100 Megawatts (MW) as of today,” he said.
Abdulaziz said that the diligent implementation of the Nigerian Electricity Grid Maintenance, Expansion and Rehabilitation Programme (NEGMERP) had fast-tracked transmission infrastructure in the country.
He said that there had been milestone achievements in grid efficiency, maintenance, rehabilitation, equipment procurement and expansion.
“We have successfully completed several transmission substations across the country, which has enhanced the capacity and efficiency of the power transmission network.
“We initiated the re-conducting of aged and de-rated capacity 132 Kilo Volt (KV) lines, and have also built new ones including 330kV transmission lines which have improved the reliability and capacity of the transmission system.
“Most aged transformers have been replaced with new ones, and the capacities of existing ones have been upgraded, resulting in improved system performance and efficiency.
“The company places strong emphasis on maintaining equipment and infrastructure through proactive maintenance practices and timely procurement of necessary spare parts.”
Abdulaziz said that the commitment had helped prevent disruptions, enhanced system performance, and reinforced TCN’s reputation as a dependable transmission system provider.
“In the last one year under President Bola Tinubu’s administration, TCN has witnessed outstanding successes in all aspects of transmission projects, including initiation, scoping, construction, network operations and maintenance.
“These, among other achievements, have had a transformative impact on the country’s power transmission infrastructure nationwide.
“It has consequently improved reliability, efficiency, and capacity, thereby, laying a more solid foundation for the country’s economic development and growth,” he said.
Source: https://energynewsafrica.com
Nigeria: Gridlock In Nigeria Amid Fuel Shortages And Price Hikes
Nigerians have been hit by a double whammy of chronic fuel shortages and a hike in prices by the state-owned oil company.
The Nigerian National Petroleum Corporation (NNPC), which imports the country’s fuel and distributes it to private sellers, blamed its debts and rising global prices for its difficulty in getting fuel.
Many people have been left stranded with long queues at petrol stations nationwide.
Commuters in Lagos have been lining up at bus stations, but there very few buses operating.
A report by the BBC quoted a section of Nigerians expressing their frustration of trekking long distances as public transport prices have doubled along some routes.
On Tuesday, the NNPC said it was putting up the petrol price from 617 naira ($0.40, £0.30) to 897 naira a litre.
Its petrol stations have the cheapest fuel on sale in the country – but at the vast majority of other private garages the pump price is much higher.
When the NNPC puts up the price, so do private sellers and in some states, like Oyo, Kano and Kaduna, petrol is now selling for as much as 1,200 naira a litre.
Many garages around the country have shut because they have run out of fuel, others have closed to adjust their prices.
In the capital, Abuja, most are open but all have long queues as desperate drivers wait their turn – some slept in their cars overnight.
Fuel stations are not rationing supply, so there is a danger their wait will be futile.
A motorcycle rider in Kano, the main trading hub of northern Nigeria, said it was frustrating: “Most of the fuel stations here in Kano are closed because they want to adjust their pumps to the new price.
“I was able to get fuel at 950 naira at a particular station, but other places have already started selling at 1,200 per litre,” Aminu Danyaro told the BBC.
Black-market traders, who buy fuel from petrol stations and sell it by the roadside from jerrycans at inflated prices, are doing a brisk trade in Kano, where there is significantly less traffic than usual.
The Nigeria Labour Congress (NLC) – the country’s main trade union body – says it feels “betrayed”, explaining that the reason it accepted the new minimum monthly wage of 70,000 naira ($44, £34) in July was because there was an agreement with the government that petrol price would not be increased.
When President Bola Tinubu came to power last year, he shocked Nigerians on his first day by removing a subsidy that kept the price of fuel low.
This – amongst other policies – has led to the worst economic crisis in a generation and cost-of-living protests, dubbed “10 days of rage”, were held countrywide last month.
Nigerians are now pinning their hopes on the new privately owned Dangote Petroleum Refinery, which has been built by one of Africa’s richest man, Aliko Dangote.
On Monday, it was announced with great fanfare that the refinery had just started producing petrol – a milestone in Nigeria which despite being Africa’s largest producer of crude oil imports all its refined fuel.
But it is not clear how long Nigerians will have to wait to see ready availability of petrol or a drop in prices.
Source: https://energynewsafrica.com
Uganda: AEC Condemns CRI’s Campaign To Block Uganda Oil Project
The African Energy Chamber (AEC) has expressed strong opposition to the Climate Rights International(CRI) – an organization fixated on perpetuating global energy poverty – in its efforts to prevent financial institutions and insurers from providing support to Uganda’s energy industry.
With an electrification rate of less than 60% in urban areas and less than 20% in rural areas, Uganda should be allowed every right to tap into its 1.4 billion barrels of recoverable oil reserves and half-trillion cubic feet of proven natural gas reserves to ensure economic growth and social development in the country.
Fixated on disseminating energy poverty in Uganda, CRI Executive Director Brad Adams has called on the international community to divest in the development of the country’s Kingfisher oil field.
Due to be commissioned in 2025, the project, which has created more than 1,500 local employment opportunities, is poised to become the first commercial oil field in Uganda.
The field is estimated to hold 560 million barrels of oil and demonstrates the potential to bring untold benefits to the country and her people.
Determined to improve the landscape of the African energy sector, the AEC has been to Uganda.
The Chamber has spoken with investors in the project and the communities of Uganda, who are wholehearted in their support for this crucial project.
Yet, despite Uganda’s dedication to leveraging its resources to ensure reliable oil and gas supplies to meet local demand, a lack of investment in production and infrastructure development as a result of interference from developed nations has resulted in a stagnant market for the country.
Growing international pressure for the world to transition to renewable energy on the terms of the Global North is crippling energy progress in Africa.
As Ugandans struggle to keep the lights on, to keep their families fed and healthy, average monthly U.S. crude oil production established a monthly record high of more than 13.3 million barrels per day (bpd) in December 2023.
Meanwhile U.S. natural gas production continues to grow, reaching an average of nearly 100 billion cubic feet per day just a couple years ago.
In Norway, the country reached an average daily gas output of roughly 11.4 billion cubic feet while daily oil production showed over 2 million barrels.
The UK uses half a million tons of coal for energy production while Germany clocks in at the fourth largest consumer in the world with 257 million tons. And there are no signs of slowing.
In a 156-page report published this month, CRI said it documented widespread human rights abuses and environmental damage at the Kingfisher site in eastern Uganda.
As a result of these insinuations, the CRI has called on all financial institutions and insurers to cease all support for the project, bringing untold harm to dozens of communities and millions of people in the country.
Having visited the project on a number of occasions, the Chamber wholeheartedly denies these unfounded accusations of abuse and instead bids the CRI to beckon the U.S. and Norway to stop producing.
To stop the UK and Germany from burning coal. Instead of beckoning Uganda to halt its development, perhaps Adams should ask Norway and Germany to cancel their gas deal rather than fixating on keeping Uganda poor.
“The time for Uganda to exploit its immensely valuable resources is now. Africa will not give in to international coercion to prevent the continent from energizing and bringing wealth to its people.
“Africa will not succumb to pressure to adhere to the energy transition on anyone else’s terms.
“We know what is good for African energy and we will do everything in our power to ensure that the continent’s resources benefit her people,” states AEC Executive Chairman NJ Ayuk.
The AEC is determined to improve the landscape of the African energy sector and explore the continent’s full potential in a way where our people benefit first.
The AEC collaborates with African and international partners across the government and private sector spectrum in all areas of the energy industry, and the Chamber is unremittent in its passion to drive energy development throughout the continent
Source: https://energynewsafrica.com
ADNOC To Buy 35% Stake In ExxonMobil’s Blue Hydrogen Plant
Abu Dhabi-based energy company Adnoc has agreed to acquire a 35% equity stake in Exxon Mobil’s (NYSE:XOM) proposed low-carbon hydrogen and ammonia production facility in Baytown, Texas, according to various media reports.
The project is set to become the “world’s largest” of its kind, with a production capacity of up to 1 billion cubic feet daily of blue hydrogen, with about 98% of carbon dioxide removed, as well as more than 1 million tonnes of low-carbon ammonia per year, Adnoc revealed in a statement on Wednesday.
The company will reach a final investment decision for the project in 2025, with operations expected to kick off in 2029.
“This strategic investment is a significant step for Adnoc as we grow our portfolio of lower-carbon energy sources and deliver on our international growth strategy,” said Dr Sultan Al Jaber, Adnoc managing director and group chief executive, as reported by Reuters.
“This is a very significant investment and the partners it is attracting give a sense for the momentum that’s building around this project,” Exxon President of Low Carbon Solutions Dan Ammann told Reuters.
Blue hydrogen is primarily produced from natural gas through a process known as steam reforming, involving combining natural gas with steam with hydrogen generated as the main product while carbon dioxide is produced as a by-product and captured.
Currently, the vast majority of hydrogen demand is supplied by fossil fuel-based steam methane reforming without carbon capture aka gray hydrogen.
The Baytown plant will have access to “cheap” gas from the U.S. Gulf Coast via pipelines.
Blue hydrogen demand is expected to see robust growth in the coming years, a trend likely to continue driving natural gas demand.
According to McKinsey, by 2050, blue hydrogen production could require as much as around 500 billion cubic meters of natural gas (between 10 and 15 percent of global natural gas demand), and capacity to capture and store 750 to 1,000 megatons of CO2.
Nearly all hydrogen consumed today (approximately 90 million tons per annum) is gray hydrogen.
However, demand for gray hydrogen is projected to decline as demand for clean hydrogen rises and the cost of green hydrogen declines.
Source: Oilprice.com
Ghana: VRA Workers Group Mount Opposition To Merger With Bui Power Authority
The Staff Groups of the Volta River Authority (VRA), a state-owned power generation company, have expressed strong opposition to the government’s plan to restructure the power sector, which will lead to the merger of the two hydropower generation companies—VRA and Bui Power Authority.
The plan will also lead to the merger of the Electricity Company of Ghana (ECG), which supplies power in the southern part of Ghana, with the Northern Electricity Distribution Company (NEDCo), which is responsible for power supply in the Northern Regions of Ghana.
There will also be the establishment of an independent Thermal Power Authority to take over the running of VRA’s thermal plants.
The groups argue that these decisions are not in the best interest of Ghanaians and could have severe consequences for the VRA and the nation.
The groups emphasised that the proposed changes could undermine the VRA’s contributions to the national grid and security.
In a statement issued on Wednesday, they recalled a meeting with the VRA Board Chairman in May 2024, when assurances were given that there were no plans to privatise the Thermal Assets of the Authority.
However, recent media reports about the proposed bills have raised concerns among the staff who feel excluded from the decision-making process.
They also noted that at a Joint Consultative Committee (JCC) meeting on August 29, 2024, the VRA management admitted to being part of a Technical Committee that worked on a report for the Ministry of Energy, proposing the VRA as a Holding Company.
Despite this, there had been no official communication about the mergers or the creation of a Thermal Power Authority.
The staff groups believe that the proposed actions are a scheme to privatise the Thermal Department, making it easier for private entities to take over valuable Ghanaian assets.
They argue that VRA was established to generate electrical power through various sources, not just hydro and that restricting its operations could lead to its collapse.
The VRA staff is calling for immediate action to address these issues and ensure that the interests of Ghanaians and the VRA are protected.
“The Volta River Authority was built for the people and not the highest bidder. There is an existing Memorandum of Understanding between the VRA and NEDCo that guarantees the VRA’s continuous support in terms of power supply and the expansion of other infrastructure.
“The MOU has expired, requiring a renewal, but management has been rendered powerless and has no interest in the renewal to guarantee continuous support to NEDCo for no apparent reason.
“The support the VRA gives to the NEDCo is to ensure that our brothers and sisters in the NEDCo catchment areas of the country enjoy electricity consistently without any hindrance.
“The separation of NEDCo from the VRA can affect the supply of power and cash inflows for the VRA since the ECG is not consistent with its payment obligations to the VRA.
“We see this attempt as ‘A GRAND SCHEME TO SELL VRA ASSETS TO CRONIES’.
“The Staff of VRA, with the support of Ghanaians, shall fearlessly resist and use all legitimate means at our disposal to ensure that the people of Ghana are not robbed of affordable electric power and energy security under the guise of mergers and privatisation,” they further stated.
Source: https://energynewsafrica.com
Ghana: Ignore Audio Citing Some Of Our Fuel Stations Of Cheating—GOIL
Ghana’s largest Indigenous Oil Marketing Company, GOIL, has urged the public to disregard audio purporting to cite some of its retail outlets as allegedly involved in adjusting fuel pumps to the detriment of customers.
In a statement issued on Wednesday, GOIL said the audio in question dates back to 2019, noting that the issue being mentioned had already been thoroughly investigated and actions were taken to resolve the matter.
“Specifically, misunderstandings regarding pump deliveries were addressed and resolved five years ago,” the company said.
It added that subsequent verifications by the Ghana Standards Authority (GSA) have confirmed the accurate delivery of fuel at its stations and, therefore, advised the public to disregard the audio being mischievously re-circulated on social media.
Source: https://energynewsafrica.com
Nigeria, China Sign Nuclear Energy Pact
Nigeria and China have signed a nuclear power cooperation agreement at the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) in Beijing.
The agreement will enhance collaboration in the Belt and Road Initiative, human resource development, and nuclear energy.
The alliance is expected to bolster development, stability, and security in the West African sub-region.
Nigeria has been discussing the creation of its own nuclear energy industry for more than a decade.
China, Nigeria’s largest bilateral lender, has already invested heavily in the country’s infrastructure, with $5 billion in loans at the end of March 2024.
The partnership between the two countries has included critical projects, including a deep sea port and extensive rail lines under the Belt and Road Initiative since their cooperation intensified in 2018.
President Bola Tinubu, who attended the summit alongside leaders from 50 African nations, highlighted the potential for this strategic partnership to drive growth not only in Nigeria but also across Africa, emphasizing the importance of stability and security.
Chinese President Xi Jinping stated that the enhanced strategic coordination between China and Nigeria would inject fresh momentum into China-Africa relations and promote collective progress among Global South countries.
During his visit, President Tinubu toured the Huawei Research lab, securing a commitment from the tech giant to establish a joint solar PV test lab in Nigeria.
Another Chinese company pledged to build an assembly plant for electric tricycles and train Nigerians in technology and renewable energy development.
This agreement comes as China is poised to embark on a record-breaking nuclear expansion that will see it build more nuclear power plants than any other country in the world in what will make it the world’s biggest nuclear generator by 2030.
For Nigeria, the partnership offers a promising avenue for advancing its own energy infrastructure and sustainable development goals.
Source: https://energynewsafrica.com
Shell, Turkey Sign 10-Year LNG Supply Deal In Regional Gas Hub Push
Turkey and Shell signed a 10-year liquefied natural gas (LNG) supply deal with an option to redirect shipments to Europe, the latest step in Ankara’s push to become a regional hub for the fuel.
Shell will sell Turkey’s state-owned Botas the equivalent of around 4 Bcmg per year starting in 2027, Energy Minister Alparslan Bayraktar said at a signing ceremony in Ankara.
That’s about 8% of the country’s total gas demand in 2023, data from the national energy regulator show.
The contract includes an option for the gas to be delivered to European terminals outside Turkey, Bayraktar said, adding that it will give Botas “critical capabilities” in LNG shipping.
The announcement hints at plans for a more active international trading role for the national energy company, which has traditionally imported cargoes for domestic consumption.
Turkey aims to become a gas hub and supplier to the European Union and has invested heavily in excess LNG import capacity as well as domestic production in the Black Sea.
It already exports small volumes to the bloc, but flows are constrained by pipeline capacity at the western border with Bulgaria.
Botas buys pipeline gas from Russia, Azerbaijan and Iran, while Algeria and the US dominate its LNG imports.
In May, the company signed a 10-year LNG supply deal for up to 2.5 million tons per year with US major Exxon Mobil Corp.
Source: World Oil
Ghana: Krapa, Joe Dadzie To Showcase Investment Opportunities In Ghana At The Africa Oil Week
Ghana’s Minister of State at the Energy Ministry, Herbert Krapa, will be leading a high-powered delegation of Ghana’s energy leaders to showcase a range of significant investment opportunities in the country’s oil and gas sector at the upcoming Africa Oil Week in Cape Town, South Africa.
AOW is scheduled at the Cape Town International Conference Centre (CTICC) from October 7 to 12, 2024.
Mr Herbert Krapa, Minister for Energy, Republic of Ghana, and the Ghana National Petroleum Corporation CEO, Joe Dadzie, will provide invaluable insights into Ghana’s burgeoning oil and gas sector, and host private meetings with interested operators in an exclusive showcase themed: ‘Why Ghana matters: A New Era of Exploration’.
The engagements are expected to be among the most promising at the event, which has million-dollar networking opportunities as one of its unique selling points.
AOW describes itself as “the meeting place for the global community of African energy stakeholders committed to enabling a prosperous energy outlook for Africa.”
West Africa has long been one of the continent’s hottest regions for oil and gas exploration. Recent discoveries in Cote d`Ivoire surrounding the Calao and Baleine basins have emphasised the region’s importance.
Now, ongoing discoveries in the Tano Basin off Ghana have become a focus for industry experts.
“It is no surprise that Ghana is one of the hottest topics in the African oil and gas narrative,” said Yemi Ibidunni, Event Director for AOW.
“The industry has matured rapidly since discoveries in the Jubilee field in 2006, with upstream and downstream development.
“Now, new offshore finds have boosted interest in Ghana’s prospects. We are proud to be hosting a session to delve into what makes Ghana an attractive investment and exploration destination.”
Key topics to be covered in the session will include: the resurgence of interest in the Tano Basin, and how recent discoveries are reshaping the West African oil and gas landscape; open-acreage offshore opportunities, and the potential for future discoveries; and a first look at the hugely anticipated Volta and Keta basins, and their significance to African exploration.
AOW is acknowledged as the premier meeting point for the global private sector and balance-sheet holders with the capital and technology to drive major projects.
The exclusive Ghana Showcase will give attendees the chance to engage with key Ghana energy stakeholders, gain strategic insights, and stay ahead of the curve on upstream trends and opportunities in the territory.
“In particular, this session will offer an in-depth look at the re-emergence of the Transform Margin as one of Africa’s most promising areas.
“This event promises to be a game changing moment for the industry given Ghana’s huge potential,” said Sinclair.
Source: https://energynewsafrica.com