July 16, 2024
Driving Namibia’s Energy Renaissance: President Hage Geingob to Deliver Opening Keynote Address at AEW 2023
African Energy Chamber Drives Intra-African Energy Investment in Lagos
– By Godswill Odiong

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The African Energy Chamber (AEC) (www.EnergyChamber.org) is honored to announce that Namibian President Hage Gottfried Geingob will deliver an opening keynote address at African Energy Week (AEW) 2023, set to take place October 16–20 in Cape Town. In alignment with AEW’s overarching theme, ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization and Free Markets,’ President Geingob will articulate Namibia’s vision of an energy renaissance. This vision encompasses the dynamic growth of the nation’s oil and gas sector alongside its promising advances in green hydrogen development, and how these resources will create an energy secure and resilient future for southern Africa.

President Geingob’s leadership has been instrumental in driving Namibia’s energy ambitions, making it a focal point for investment and innovation. Namibia, with its burgeoning energy sector, has seen recent oil discoveries that are poised to transform the nation into a significant player in the global energy landscape. The nation’s strategic location along the southwestern coast of Africa has led to significant offshore discoveries, attracting substantial international investments from industry giants. Between 2022 and 2023, the country’s oil and gas fields witnessed five discoveries – Venus-1X in PEL 56, made by TotalEnergies EP Namibia and its associates, and Graff-1, Jonker-1X, La Rona-1, and Lesedi-1X in PEL 39, jointly made by Shell Namibia Upstream BV and its collaborators. These discoveries have positioned the country as both an attractive investment opportunity and increasingly important oil and gas market for Africa.

In addition to these finds, the country is making progress with its natural gas agenda under the leadership of President Geingob, prioritizing gas-based power generation and investment. The Kudu project is the main development in this area. This significant endeavor intends to use offshore natural gas reserves for generating electricity, enhancing Namibia’s energy sources and lessening its dependence on imported power. Investors have openings in gas infrastructure, power generation, and related projects within this sector, and with the country’s recent exploratory success, this industry has exploded, promising even higher returns and opportunities for financiers and project developers.

These developments have elevated Namibia’s economic potential and solidified its role in the global energy supply chain. Under President Geingob’s leadership, the country is actively developing stringent regulatory frameworks to support responsible and sustainable offshore resource utilization, emphasizing environmental preservation alongside hydrocarbon resource optimization. The country has created a conducive enabling environment for energy investment, attracting major international players like ReconAfrica, Chevron, ExxonMobil, Woodside, Galp, and other industry leaders. This collaborative investment approach not only fosters economic growth but also accelerates the nation’s progress towards energy security and sustainable development. Market-focused policy, partnerships with regional and global players, and a commitment to local content and beneficiation showcase both President Geingob and Namibia’s unwavering commitment to leveraging energy resources for economic growth and a sustainable future for the region.

Beyond oil and gas, Namibia is fast becoming a global hub for renewable energy projects, with Hyphen Hydrogen Energy entering into a Feasibility and Implementation Agreement with the Namibian government to advance its $10 billion green hydrogen project. Set to commence operations by 2030, this flagship initiative is projected to generate an annual output of two million tons of green ammonia. It will involve the deployment of approximately 3 GW of electrolyzers fueled by 7 GW of renewable energy sources. Additionally, the government – spearheaded by the President – has kickstarted several green hydrogen pilot projects, showcasing Namibia’s ambition to lead in this promising industry. Green hydrogen is a central pillar of Namibia’s strategy to address climate change while ensuring energy security and a sustainable transition.

“As we look to the future of energy in Africa, Namibia stands as a shining example of what can be achieved through visionary leadership and a commitment to sustainable development. Under President Geingob’s guidance, Namibia’s energy sector has become a beacon of opportunity, attracting major investments and driving innovation. The country’s focus on regulatory clarity, environmental responsibility, and green energy initiatives sets a precedent for the entire continent. Namibia’s journey in the energy sector is a testament to the transformative power of strategic leadership and collaboration on the path to a brighter, more energy-secure Africa where we can Make Energy Poverty History,” states NJ Ayuk, Executive Chairman of the AEC.

During AEW 2023, President Geingob’s opening address will provide crucial insight into his administration’s priorities and action plan for the advancing energy security in Africa. President Geingob is leading a strong Namibia delegation to the event, comprising high-level stakeholders from the Ministry of Mines and Energy and National Oil Company NAMCOR. An Invest in Namibia Energies country spotlight will build on President Geingob’s opening remarks, elaborating on the investment opportunities present in the Namibian energy market.

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