Natural gas will be the only hydrocarbon resource to increase its share in the global energy mix, from the current 22% to 26% in 2040, Dr Yury Sentyurin said at the African Petroleum Producers Organisation congress and expo in Equatorial Guinea
Natural gas will be the only hydrocarbon resource to increase its share in the global energy mix, from the current 22% to 26% in 2040, according to Gas Exporting Countries Forum (GECF) secretary general Dr Yury Sentyurin.
“Natural gas is a destination fuel that will prove to be key to achieving a lower carbon energy system,” Sentyurin said in his opening address at the African Petroleum Producers Organisation (APPO) CAPE VII Congress and Exhibition in Malabo, Equatorial Guinea yesterday.
Africa’s progress in natural gas development will be a triumph against energy poverty, where approximately 80% of people still rely on biomass and waste to meet their energy needs, he said. Given the numerous health and air quality concerns associated with biomass burning, improving energy accessibility on the continent is not only a necessity for fighting energy poverty, but for fulfilling climate change objectives, and UN Sustainable Development Goal 7: access to affordable, reliable, sustainable and modern energy for all, Sentyurin noted.
Africa has tremendous prospects for natural gas production, he said.
And that according to the 2018 GECF Global Gas Outlook, Africa’s marketed gas production can contribute as much as 9.2% to the global total by 2040, corresponding to an expansion of 255 bcm to more than 505 bcm by 2040 (Africa’s gas production in 2018 was 253 bcm), and a compound average annual growth rate of 3.4% over the forecast period, meaning Africa is expected to more than double its production.
Sentyurin praised Equatorial Guinea’s ‘2019 Year of Energy Initiative’. Of the GECF’s some 19 members, six are located in the African continent: Algeria, Angola (newest member), Egypt, Equatorial Guinea, Libya, and Nigeria.
The secretary general pointed out that the GECF countries have added “substantial shares” to total gas production in Africa. Collectively, they contributed 236 bcm to marketed gas production in 2018, and accounted for about 93% of the total gas produced on the African continent.
He also pointed to the fact that several key industry players from other member countries, such as Gazprom and Equinor, are active in Africa and ready to provide business assistance to local producers.
Initiatives such as the massive LNG2Africa Initiative are crucial to bringing energy, natural gas in particular, to the power systems of the continent, he said.
Sentyurin also said these projects have been figured into the GECF’s Global Gas Outlook projections.
Organised by Africa Oil & Power, the APPO CAPE VII is a high-level gathering of APPO ministers, private sector oil and gas leaders and other prominent industry leaders.
The event, which concludes today, falls under the umbrella of Equatorial Guinea’s ‘Year of Energy 2019.’
