- Technology trends that will revolutionize Africa in 2023
- Kenya’s Equity Bank completes acquisition of Spire Bank
- Nigeria’s Union Bank gets $30Mn loan from IFC to lend to SMEs
- African countries open to cheaper flights to boost domestic travel
- Majority of Kenyans buy from companies with distinctive branding – Report
- Tapping into the potential of Africa’s music industry
- Breaking the Cycle: Strategies for Managing Black Tax
- US and Mozambique Agree on Key Components of Mozambique Compact
Browsing: natural gas
- Green hydrogen is defined as hydrogen produced by splitting water into hydrogen and oxygen using renewable electricity.
- Green hydrogen is the future for Africa, especially in the wake of transitioning from old ways of energy production to modern systems featuring clean, renewable energies.
- The conversation on clean and renewable energy has become interesting over the years as technology and finance in the sector grows.
Africa has the potential to produce $1.06 trillion worth of Green hydrogen energy, according to a European Investment Bank report dubbed ‘Africa’s Extraordinary Green Hydrogen Potential’.
Global demand for hydrogen is projected to rise seven fold by 2050, with Egypt, Kenya, Mauritania, Morocco, Namibia and South Africa primed to ride the demand for green energy.
Another report by Africa Green Hydrogen Alliance by 2050 asserts that green hydrogen could increase the GDP of the six nations by $126 billion, equivalent to 12 percent of their GDP.…
Rising costs have remained a critical issue in the aftermath of the outbreak. Data from the World Bank/NBS Nigeria – COVID-19 National Longitudinal Phone Survey 2020 reveals that food prices rose rapidly following the pandemic. In March and April, basic food commodity prices increased by 17.2 per cent and 18.37 per cent, respectively. According to the National Bureau of Statistics (NBS), the rise remains the highest in two years.
Recent findings based on comprehensive and long-term monthly food price data have revealed considerable price rises for all chosen food categories during the pandemic. Imported rice and wheat costs, for example, have climbed by 41% and 21%, respectively.
Wheat prices surged by 21% nationally, with considerable increases in price dispersion across markets when the epidemic began, and prices continue to grow.
Wheat is the main component of bread and other products such as noodles, pasta, semolina, and other Nigerian pantry staples. …
The European Union has imposed restrictions, including a partial oil embargo on Russia. The sanctions will see the E.U. ban seaborne imports of Russian crude oil by the end of 2022. Additionally, petroleum product imports would stand prohibited by early 2023. European Commission President Ursula von der Leyen reiterates the E.U. plans to reduce reliance on Russian fossil resources by 2027.
Because of the European Union’s political determination to minimize its reliance on Russia in response to Moscow’s invasion of Ukraine, the E.U. is now searching for alternative suppliers. The search implies that suppliers such as Africa’s underdeveloped frontier energy markets may discover new energy markets in Europe. Optimism remains high since it is clear the E.U. no longer rely on Russian gas. Russia has for years remained a primary gas supplier in Europe.…
Most African natural gas and oil sources lie in sub-Saharan Africa, including Nigeria, which possesses around one-third of the continent’s reserves, and Tanzania, opportunities Germany should seize.
The proposed Trans-Saharan pipeline would transport gas from Nigeria to Algeria via Niger, traversing a vast, ungoverned area. The proposed pipeline, if built, will connect to the current Galsi, Medgaz, Maghreb-Europe, and Trans-Mediterranean pipelines, which supply Europe from transmission centres on Algeria’s Mediterranean coast.
The Trans-Saharan pipeline would be almost 2,500 miles long. It could send up to 30 billion cubic meters of Nigerian gas to Europe yearly, roughly two-thirds of Germany’s Russian imports in 2021. Unfortunately, the Trans-Saharan pipeline will likely take a decade or more to complete and will face several hurdles as it passes through war and insurgency-ridden areas.…
As a gigantic energy superpower, Russia’s foreign direct investment (FDI) accounts for less than 1 per cent of Africa’s total FDI.
However, African Business argued that, with Russia being a small trading partner to Africa compared to the United States and China, the impact on trade would be marginal—yet few Africa developing economies such as Uganda will be more exposed.
Further, United Nations Conference on Trade and Development (UNCTAD) data show that Russia accounts for 2 to 3 per cent of Africa’s trade with the world—most of it is exports.
“Russia also accounts for 2 per cent of the world’s exports to Africa, and only 0.5 per cent imports from the continent” African Business.…
- Calls for monetizing natural gas dominated the just concluded Africa Energy Week 2021 in South Africa.
- AEW 2021 is committed to driving energy sector growth as well as the transition to cleaner sources of fuel.
The African Energy Week 2021 emphasized the role of natural gas in Africa and provided African stakeholders with the opportunity to not only engage in but drove the conversation on natural gas in Africa’s energy future.
Investors and leaders drawn from different parts of the continent campaigned for this noble venture to the respective countries saying that Africa’s natural gas resources potentially can accelerate socio-economic growth and eradicate energy poverty.
Accordingly, many nations are seeking enhanced investment to maximize and monetize resources. As the continent’s premier energy event, African Energy Week (AEW) 2021, aims to build on this momentum, promoting innovative strategies to monetization, addressing challenges hindering development, and charting a way forward for the …
After major reforms that rocked its mineral and energy sectors less than a decade ago, mineral and energy-rich Tanzania is again doing an overhaul of the two sectors, this time not to short leash investors but rather, to ‘rebuild broken bridges.’
A key area that is slotted for a facelift is the very lucrative Liquefied Natural Gas (LNG) sector which the country’s new Energy Minister January Makamba shortlisted as a sector of much interest that is yet to meet its full potential.
The sector minister was firm, change is coming to the sector and since charity begins at home, for starters, the board of the country’s government-owned power supply monopoly the Tanzania Electric Supply Company Limited (Tanesco) has been ‘gassed out’ and a new board brought in to breathe fresh air to the ailing entity.
Announcing the new board mid this month, the minister said; “We just started with Tanesco …
East Africa’s most close trade partners, Kenya and Tanzania have resuscitated their relationship, as President Samia Suluhu Hassan and Uhuru Kenyatta improve their relations by tying new deals to the table.
This new dawn comes as President Samia executes her strategic state visit in Kenya since the last visit made by her predecessor the late President John Magufuli in 2016.
According to information from The Citizen, the two neighboring countries agreed on fortifying trade and economic relations and “re-energize the joint commission on cooperation”.
The central bank of Tanzania (BoT) and Tanzania Revenue Authority (TRA) data show that Tanzania’s trade with Kenya registered a deficit of $35.8 million in 2018, which is less than a surplus of $90.2 million in 2017.
Further, Tanzania and Kenya agreed on building cooperation in fruitful economic sectors, tourism, transport, and logistics, and arise plans to build a natural gas pipeline between Dar es Salaam …
It is a sad day for Africa and Mozambique as Total SE the French energy company seal its $20 billion liquified natural gas (LNG) project in the security risk country rich in natural gas reserves, according to information from Total.
“Considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, Total confirms the withdrawal of all Mozambique LNG project personnel from the Afungi site. This situation leads Total, as operator of Mozambique LNG project, to declare force majeure,” Total statement reads in part.
Mozambique as one of the few countries with natural gas reserves has been ravaged by frequent attacks executed by Islamic insurgents in Cabo Delgado province.
Various media sources, including Aljazeera, reported that the project has been stopped indefinitely due to an escalation of violence in the areas with LNG projects.
Mozambique—another African country endowed with plenty of natural gas reserves holding 100 trillion cubic feet (Tcf), has suffered another blow within the lucrative industry as security concerns forced French oil and gas giant company Total to postpone its work at a liquified natural gas (LNG) project in the country.
Internal conflicts have been occurring in Mozambique rather often. On March 27 Jihadis seized a town and allegedly attacked a convoy of fleeing civilians, which includes foreign workers, as fighting continued (Further Africa).
According to various media sources, including BBC, dozens of people are dead following an attack by Islamist militants on a town in northern Mozambique (Palma), where the LNG project is underway.
According to information from Reuters, on Saturday Total said that none of the LNG project workers was among the victims.
However, according to BBC …