AOW Virtual: US Keen to Partner with Africa to Develop ONG Exploration in Exchange for Tech Support
The US and Africa are keen to develop their strategic relationship and collaborate on Oil and Gas Exploration projects. The details would be discussed at this week’s The AOW Virtual (7-8 October 2020) Summit. The AOW Virtual is a free-to-attend online conference aimed at reigniting African oil, gas, and energy.
In recent months, Africa has shown remarkable “steel” in overcoming the challenges thrown in the air amidst the COVID-19 pandemic crisis.
The Africa Oil Week Virtual conference will be packed full of strategic outlooks, debates, and a much-anticipated government bidding round. It will offer AOW’s global oil and gas audience a platform to discuss insights, challenges and opportunities post COVID-19.
The US Export-Import Bank recently approved a direct loan of up to $5 billion to support the development and construction of an integrated LNG project in northern Mozambique, demonstrating American appetite for developing natural gas as a key “bridging fuel”.
What will power Africa’s energy transition will be top of the agenda at AOW Virtual
The participation of US Department of Energy’s Assistant Secretary for Fossil Energy and the US Development Finance Corporation’s Chief Development Officer in AOW Virtual highlights the importance that the United States places on fostering relationships with the continent.
Prosper Africa initiative by the US
When the US government launched its Prosper Africa initiative in December 2018, it did so with a vision to open markets for American businesses, grow Africa’s middle class, and promote youth employment opportunities. Securing the continent’s energy future – either with its own resources or imported ones – and facilitating electrification for those Africans not yet connected to the grid has been crucial to the initiative since its inception.
The question of what will power Africa’s energy transition will be top of the agenda at AOW Virtual, as the online conference hosts the “The Energy Debate: Natural Gas Vs Renewables” on October 7th (16:30 GMT+1). Among the eight participant – who hail from organizations including EDF, BP and Nigeria LNG – will be US Assistant Secretary for Fossil Energy, Steven Winberg and the US Development Finance Corporation’s (DFC) Chief Development Officer, Andrew M. Herscowitz.
Both participants have a wealth of experience to offer.
Preceding his current role, Herscowitz was Coordinator of the US Government’s Power Africa program, where he grew the initiative to become the world’s largest partnership for development, with 170 partners and $56 billion in commitments. Winberg meanwhile has built extensive experience in numerous energy technologies during his 39 years in the industry, including advanced fossil energy combustion, coal-to-liquids, fluidized bed combustion, emulsified fuels, fuel cells, alternative fuel vehicles, and carbon utilization.
What position are they likely to adopt in the debate?
According to Assistant Secretary Winberg, it is a mistake to view fossil energy and natural gas as opposing forces. He recently commented, “Africa is home to immense unconventional gas reserves, and they also have abundant renewable resources. It’s not about using one or the other; it’s about using both to expand energy opportunity and security across the continent. We welcome the opportunity to collaborate with our African partners to develop and use resources across the energy spectrum”.
Herscowitz too is likely to emphasize the importance of driving a sustainable energy mix, telling AOW Virtual organizers that “ultimately, what we must do is help Africans take advantage of their own resources using as many technologies as possible.” In the same conversation, he mentioned the importance of ensuring flexibility for the use of resources, citing floating storage and regasification units as projects for which the DFC may be interested in providing support.
100s of C-level executives from across the value chain are expected to attend, as well as government representatives from countries including Somalia, Namibia, South Africa and the USA. Plus, AOW Virtual is CPD certified, so attending sessions will count towards your continuing professional development.
Currently, Africa Oil Week (www.Africa-OilWeek.com) is the meeting place of choice for the continent’s upstream oil and gas sector. Now entering its 27th year, the event brings together governments, national and international oil companies, independents, investors, the G&G community, and service providers.