MSGBC 2022 convenes under the theme, “The Future of Natural Gas: Growth Through Strategic Investments and Policy Development,” and for good reason. Across the basin, approximately 50 trillion cubic feet (tcf) of natural gas reserves are held, and basin nations are capitalizing on this natural wealth, each with active or planned licensing rounds. Senegal will soon start a new round after their recent 12; The Gambia has five offshore blocks and two onshore blocks expected to be released this year; five deepwater blocks are open in Guinea-Bissau’s latest special tender; and Guinea-Conakry is finalizing tender conditions for a 22-block offshore tower. The international oil majors are already active in the region, in particular the Australian FAR; the British bp, Shell and Harbor Energy; the French TotalEnergies; Norwegian PetroNor; Iraqi Star Oil; the Addax of China; Petronas of Malaysia; the Americans ExxonMobil and Kosmos Energy; the Algerian Sonatrach; and Ireland’s Tullow Oil with Capricorn Energy – the latter two are in the process of merging.
Against the backdrop of large-scale developments across MSGBC’s energy spectrum, MSGBC Oil, Gas & Power 2022 represents the official platform to connect with investors, network with stakeholders and sign deals that will further expand the regional sector. On the hydrocarbon front, with nine billion barrels of oil equivalent present in the MSGBC countries, projects such as the 500 million barrel deepwater Sangomar project make a strong case for oil exploration and investment. Likewise, with natural gas set to transform the regional energy and economic space, the conference will present updates, provide insights and showcase opportunities associated with projects such as the 15 tcf Greater Tortue Ahmeyim (GTA) development ; the Yakaar-Teranga project of 20 tcf; and the 13 tcf BirAllah project.
MSGBC liquefied natural gas (LNG) is a central theme of the conference, with many “firsts” associated with regional developments. 15 tcf of natural gas has been released in the GTA field, Africa‘s deepest offshore project, while in Mauritania a deal signed by the government last year will call on LNG specialist New Fortress Energy, for the country’s first major gas-to-electric. development. Fueled by a tcf of natural gas reserves, exploited in the Banda field off Nouakchott, this project is only made possible by the revolutionary modular LNG technology of New Fortress Energy, facilitating a scale-up of the installations, reducing upfront costs while maximizing efficiency.
In addition to oil and gas, upcoming renewable developments position the region at the forefront of Africa’s energy transition. Projects such as the $3.5 billion, 10 GW Nour green hydrogen project in Mauritania, the 158.7 MW Taiba N’Diaye wind farm in Senegal and the 450 MW Souapiti hydroelectric plant in Guinea -Conakry highlight the potential of the region. As investor interest grows, MSGBC Oil, Gas & Power 2022 welcomes financiers not only from across Africa but also from Europe, Asia, America, Australia and the Middle East. Last year, deals worth $2.5 billion were signed at ECP events, with the MSGBC conference in particular set to usher in a wave of new deals following large-scale developments In the region.
The event’s lineup includes market-focused sessions, including a Security Forum, highlighting the impact of geopolitics on foreign direct investment (FDI) and presenting ways in which this involvement could be reimagined. for competitive advantage; a forum on technology innovation and the future of the energy industry will highlight the region’s LNG depletion potential as vital; a National Oil Company (NOC) Forum, bringing together regional NOCs to share experiences on current challenges and opportunities; a session on finance and energy, exploring the financing of upstream onshore development in West Africa; as well as other sessions including project updates, panel discussions and live interviews.
In the words of ECP’s Conference Director, Sandra Jeque, “MSGBC Oil, Gas & Power is a platform like no other, presented in partnership with the region’s Ministries of Energy, NOCs and international oil companies, with the potential to transform West Africa’s future energy through FDI on an unprecedented scale, facilitating the region’s sustainable socio-economic development. $.5 billion worth of deals signed at ECP events last year alone, MSGBC 2022 grants West Africa the potential fiscal means to truly accelerate its world-class mega-developments, driving post recovery -robust pandemic for every nation.
For more information, visit https://msgbcoilgasandpower.com/.