The African Energy Chamber (AEC) (www.EnergyChamber.org), the voice of the African energy sector, is proud to announce the signing of a Partnership Agreement with multinational energy market intelligence firm, Rystad Energy.
As part of the agreement, Rystad Energy is now officially African Energy Week 2022's Intelligence Partner and will lead vital energy market related discussions at AEW 2022, AEC's leading energy sector investment platform for the oil and gas industry – taking place on 18 – 21 October 2022 in Cape Town.
Rystad Energy will be moderating and participating in panel discussions and technical workshops to share the latest energy market trends, updates and forecasts during the 2022, 2023 and 2024 editions of Africa's premier event for the oil and gas sector, AEW.
In addition, Rystad Energy will launch two Africa-focused webinars in the build-up to AEW in support of the event to share key market findings, AEW discussion topics and their impact on Africa's energy environment.
With the AEC determined to improve dialogue on industry changes, challenges and opportunities between market players, investors and regulatory authorities, the participation of Rystad Energy at AEW events will be crucial in enabling the development of market-driven solutions that will empower Africa to maximize the exploration, production, exploitation and monetization of domestic oil and gas energy resources to address energy poverty while fueling industry growth.
The AEC and Rystad Energy will also cooperate on research and the compilation of "The State of African Energy 2023" report, a detailed analysis of how regulations, merger and acquisitions, and of exploration, production and infrastructure developments are shaping Africa's hydrocarbons landscape.
Rystad Energy's top-grade market insights will be vital in helping African energy market stakeholders, investors and governments align operations, business models, investment strategies and policies with current and future energy market changes to optimize sector operations.
With factors such as a lack of adequate investments and infrastructure, political instability, global climate policies and investor-scary fiscal terms and regimes hindering the growth of Africa's hydrocarbons market, the partnership between the AEC and Rystad Energy will provide the industry with best practices and policy recommendations that will take the continent's oil and gas sector to the next level.
"Africa is extremely rich in natural resources, and its full potential remains unknown. Our data at Rystad Energy shows that exploration expenditure in oil and gas in Africa is approximately half of that for the Americas, and on par with Europe. This is despite the fact that Africa has a prospective coastline of 30.000 km. We should multiply profitable investments in African energy to realize its full potential as the world's richest natural resource region, and to enable economic growth for its quickly expanding population," says Per Magnus Nysveen, Co-Founder and Head of Analysis at Rystad Energy.
Moreover, with Rystad Energy making the "Energy transition a member of its solution family," insights from the research firm and participation at AEW events will be critical in helping Africa to develop its own energy transition roadmap that is fit for the continent and prioritizes the exploitation of domestic energy resources to make energy poverty history by 2030.
"With over 600 million people across the continent still living in energy poverty and up to 900 million living without access to clean cooking, sterling market recommendations and insights Rystad Energy provides, are critical in helping Africa to expand the oil and gas market and in ensuring the use of these resources to enhance energy access. The AEC is proud to be a partner of one of the world's leading global information providers, Rystad Energy," states Tomás C. Gerbasio, Strategy and Business Development Director - African Energy Week 2022.
Since its launch in 2004, Rystad Energy has become the global energy industry's knowledge hub through the provision of data, tools, analytics and consultancy services to players within the oil and gas markets, supply chains, renewables, commodity markets and the energy transition.
The research company offers guidance to energy companies, suppliers, financial professionals, NGOs and governments to help them navigate through market barriers and as such the partnership with AEC will be instrumental in helping Africa's energy market stakeholders to make informed decisions regarding how best to enhance oil and gas exploration, production and infrastructure development to address chronic energy shortages and high prices that are crippling African economies.
With "Exploring and Investing in Africa's Energy Future while Driving an Enabling Environment," the main theme at AEW 2022, the partnership between the AEC and Rystad Energy will be critical in providing information which both continental and regional investors can leverage to accelerate energy sector investments and boost private sector participation within Africa's energy sector.
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About AEW 2022:
AEW 2022 is the AEC's annual conference, exhibition, and networking event. AEW 2022 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments. Key organizations such as the African Petroleum Producers Organization, as well as African energy heavyweights including Nigeria and Equatorial Guinea have partnered with AEW, strengthening the role the event will play in Africa's energy future.