Energy Chamber Attends First High Level Meeting of OPEC-Africa Energy Dialogue
On June 2, 2021, OPEC, in collaboration with the African Energy Commission (AFREC), the African Organization of Petroleum Producers (APPO), the African Association of Refiners and Distributors (ARDA) and the African Chamber of Energy (AEC) hosted the first OPEC- Africa Energy Dialogue to promote continent-wide cooperation initiatives
In the first installment of the OPEC-Africa Dialogue, high-level participants addressed issues of great importance to Africa’s energy industry, such as energy poverty, energetic transition and the financing of projects during the very accelerated transition to a more low-carbon future. The key points highlighted during the OPEC-Africa Dialogue included:
• Fuel poverty continues to be one of the main challenges facing African countries to date, and it is expected to grow exponentially in the years to come. A swift move towards a zero carbon future will only exacerbate this problem, leaving many Africans without access to electricity, consequently affecting health systems, industries, economies and the lives of millions of Africans. On this topic, OPEC Secretary General, HE Mohammad Sanusi Barkindo noted that energy stakeholders should work together to ensure an equitable distribution of energy that leaves no one behind.
• All sources of energy are necessary to fight against fuel poverty and African economies. Secretary General Barkindo noted that the OPEC will continue to advocate for a balanced and inclusive approach energy transition which values all energy sources and prioritizes investment needs in Africa.
• A financing plan for the continent energy sector must continue to develop energy projects. Given the recent position of large institutional and non-institutional investors, Africa needs a plan to seek other sources of finance.
The ACS is determined to help African countries to implement strategies for the sustainable exploitation of their natural resources and to strengthen their energy sectors for the benefit of their people.
The ACS and our board members are strong supporters of well thought out and carefully designed strategies to enable African countries to move towards a low carbon future without leaving their citizens and resources behind. We are committed to helping African public and private stakeholders solve the challenges our industry faces today, and we look forward to working closely with the OPEC in achieving these results.