South Africa’s Foreign Ministry Joins African Energy Week 2024, Promoting Pan-African Energy Diplomacy
The African Energy Week (AEW): Invest in African Energy conference has secured the endorsement of South Africa’s Department of International Relations and Cooperation (DIRCO) for its 2024 edition, affirming the role of global energy diplomacy in shaping Africa’s energy future. DIRCO returns to AEW 2024 as a partner, following participation in last year’s event.
South Africa’s energy sector stands at the crossroads of traditional reliance on coal and the exploration of oil and gas, alongside a growing shift toward renewable energy. The country has made significant strides in developing its offshore gas reserves, including the Brulpadda and Luiperd discoveries, estimated to hold a combined 3.4 trillion cubic feet of gas. International partnerships with companies like France’s TotalEnergies, QatarEnergy – which recently expanded its presence in South Africa’s Orange Basin – and Canada’s Africa Oil Corp. are vital to these efforts.
At the same time, South Africa’s commitment to transitioning to cleaner energy – driven by its participation in global climate agreements – has attracted international investments including the $8.5-billion Just Energy Transition Partnership with France, Germany, the U.K., the U.S. and the European Union (EU) . This dual focus on traditional fossil fuels and decarbonization underscores the importance of international cooperation in South Africa’s evolving energy landscape.
AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.
On the continent at-large, Africa’s hydrocarbon resources have made it a strategic player in global energy markets, attracting sizable foreign investments from global superpowers including China, the U.S. and the EU. China’s strategy on the continent has focused largely on energy infrastructure projects – with Chinese President Xi Jinping recently committing $51 billion in fresh investments in Africa over the next three years – while American operators continue to drive offshore exploration in Nigeria, Angola, Equatorial Guinea, Namibia and more.
Meanwhile, the African Union has been collaborating with the EU to accelerate investments in renewable energy. The EU’s Global Gateway initiative has pledged to invest €150 billion in African development, with a significant portion allocated toward clean energy projects.
Moreover, Africa’s energy sector is being impacted by global geopolitical shifts, including the Russia-Ukraine conflict, which has disrupted global energy supplies and forced Europe to seek alternative sources. This has led to renewed interest in African oil and gas, particularly from countries like Senegal, Nigeria, Libya and Algeria that have substantial gas resources, close proximity to Europe and planned regional pipelines underway. European nations are looking to Africa as a strategic partner to reduce dependency on Russian energy, further integrating the continent into global energy dynamics and highlighting the role of energy diplomacy in advancing Africa’s oil and gas sector.
“We are honored to secure DIRCO’s support and endorsement of AEW 2024, which will contribute fresh perspectives and insights on how to create an enabling environment, drive investment and foster sustainable energy development across the continent. Cooperation – both within Africa and externally – is fundamental to achieving continent-wide energy access, industrialization and climate goals,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.
