High-level panel to deliberate on current developments in Global oil and gas industry at CAPEVIII 2022 in Luanda, Angola
Despite the increasing drive for energy transition to renewable energy in the energy industry, oil and gas would, for some time, remain relevant in the global energy mix. African producers that relies heavily on the revenues and foreign exchange from the industry to finance their national budgets will continue to explore the strategies to keep exploiting these natural resources while undertaking the necessary diversification of their economies to meet the challenges and demands of energy transition.
The African Petroleum Producers Organisation (APPO), with the technical support of AMETRADE, an event management company based in London, United Kingdom, is holding the 8th edition of its flagship triennial conference, the Africa Petroleum Congress and Exhibition (CAPEVIII), in the prestigious Epic Sana hotel, Luanda, Angola, from 16-19 May 2022. The conference is a gathering of national, regional, and international energy, oil and gas industry experts to deliberate on the challenges and opportunities of energy transition and the future of oil and gas industry in Africa.
2. High-Level Panel Discussion
A key feature of CAPEVIII is the High-level Panel that will discuss current developments in global oil and gas industry, highlighting the opportunities and challenges they present to the African oil and gas producers. The panel will be moderated by HE Diamantino Pedro Azevedo, the Minister of Mineral Resources, Petroleum and Gas, Angola, and the current President of APPO. The panelists are made up of Ministers of energy, oil and gas from member countries of the African Petroleum Producers Organisation and they include: H.E. Gabriel Obiang Lima, Minister of Mines and Hydrocarbons, Republic of Equatorial Guinea H.E. Didier Budimbu Ntubuanga, Minister of Hydrocarbons, Democratic Republic of Congo; H.E. Bruno Jean Richard Itoua, Minister of Hydrocarbons, Congo, President of OPEC; and Mr. Paulino Jerónimo, Chief Executive Officer, Agencia Nacional de Petróleo, Gás e Biocombustiveis, ANPG, Angola.
3. Objective of the High-level Panel Discussion.
The objective of this session is to discuss current developments in the global oil and gas industry against the opportunities and challenges they present to African oil and gas producers. The panel will deliberate on changing oil and gas market dynamics in terms of demand and supply, increasing volatilities in the oil and gas market, especially in the wake of crisis in Europe, financing, and investment as well as technological innovations in the industry and how it will affect production and exploration activities in the continent.
In particular, the opportunities that is being created for African oil and gas producers by the Russian and Ukraine faceoff which is making Europe to consider the diversification of its gas supply sources. The European Union is planning to turn to Africa to help wean itself off Russian natural gas and thereby, creating market opportunities for the largely untapped potential for liquified natural gas deposits in Nigeria, Senegal, Equatorial Guinea, Ghana, Cote d’Ivoire, and Angola as well as other emerging oil and gas producers in the region. A number of gas pipeline projects linking Africa to Europe have been studied in recent years, and feasibility studies are ongoing to build the world’s longest offshore pipeline, carrying natural gas from Nigeria to Morocco and Europe to take advantage of the new opportunities that is being thrown up by European market. The panel will be come up with strategies that will position African producers to effectively compete with other countries and regions in supplying oil and gas to the European market.
4. Sponsors and Supporters of CAPEVIII
After 18 years of its organisation, CAPE is now reputed as the largest and the most influential oil and gas event in Africa that seeks to provide investors the opportunity to have deeper information and knowledge of the oil and gas industry in Africa. It has become a must-attend conference and the only full stream policy, business, and networking platform for member countries of APPO. The growing importance of CAPEVIII is the reason that it has been attracting the sponsorship of major players in the energy, oil and gas industry both regionally and globally. This year’s edition has SONANGOL, the national oil company of Angola as the lead sponsor, Total Energies as platinum sponsor, ExxonMobil, Chevron and Afreximbank as gold sponsors. The silver sponsors include Transfigura, Equinor and SONIDEP while bronze sponsors are BFA, SINOPEC, SOMON AND SNH. Moreover, the conference has the support of industry associations such as PETAN, AECIPA and OGTAN. Furthermore, representatives of international organisations are also supporting the conference by sending their goodwill messages to the conference delegates during opening ceremony. Such personalities include H.E Mohammad Sanusi Barkindo, Secretary General, Organization of the Petroleum Exporting Countries (OPEC); H.E. Joseph McMonigle, Secretary General, International Energy Forum; and H.E. Mohamed HAMEL, Secretary General of Gas Exporting Countries Forum.
5. Concluding Remarks
In view of the strategic importance of oil and gas production and exports to Angola, and as the second largest producing country in Africa, the President of the Republic of Angola, His Excellency João Manuel Gonçalves Lourenço, will open the conference which will send positive signals to the regional and the global energy, oil and gas industry on the importance the government of Angola attaches to the industry. The President will use the opportunity to elucidate on the concern of Angola and indeed, African oil and gas producing countries, about the current drive to limit investments in the sector as a result of the effects of climate change. He will also outline the measures to position the industry for sustainable growth so as to overcome the challenges of geopolitical issues facing the industry and the opportunities it present for Angola and other African producers to diversify their market to emerging countries in Europe and Asia.The host country, Angola, holds the current presidency of APPO and it is hosting CAPE for the first time. The country will use the event to showcase its oil and gas infrastructures, rich culture, and the warm hospitality of the people.