This week, dignitaries and delegates including national oil company (NOC) heads and international oil company executives, ministers and presidents, global analysts and venture capitalists converge on the Senegalese capital of Dakar in readiness for the MSGBC Oil, Gas & Power Conference and Exhibition 2022, one week remaining until open doors. Having seen $2.5 billion worth of investment secured at last year’s events, organizer Energy Capital & Power now highlights the key speakers and sponsors, deals and declarations to watch at this year’s seminal West African energy and development congress.
First and foremost, MSGBC 2022 will play host to an exclusive gathering of ten leading oil and gas ministers from Senegal, Mauritania, The Gambia, Guinea-Bissau, Equatorial Guinea, Namibia, Ghana, Sierra Leone the Democratic Republic of the Congo and Congo-Brazzaville, assembled under the auspices of Senegalese President and African Union Chairperson, H.E. President Macky Sall, to co-author a united African stance on energy, climate and development.
The resultant multilaterally endorsed common African position on a just and equitable energy transition, dubbed the Dakar Declaration, will be carried forward to the G20 and G7 summits before forming the centerpiece of the continent’s unified narrative at December’s Egypt-hosted COP27.
The MSGBC basin is home to almost one third of Africa’s discovered natural gas reserves and every one of its nations has an active offshore licensing round ranging from five to 28 blocks on offer, exponentially boosting exploration. Yet this burgeoning hydrocarbon industry is counterbalanced by equally ambitious pursuit of world-class zero carbon power sources – over 800 GWh per annum in hydropower from the Senegal River Basin Development Organization; $40 billion investment into the world’s largest green hydrogen project in Mauritania; and every MSGBC nation boasting a renewables share above one third in their grids, pushing for 2025 or 2030 universal electrification targets. Either pathway holds the potential to bring over 10% annual GDP growth, to electrify communities for the 30% of people lacking basic power access and to halve electricity prices for host nation Senegal. Thus, there could be no better stage for these future-shaping dialogues to be held.
Equally, as Senegal targets 50% by 2030 local content goals and its neighbors follow, MSGBC 2022 will see the signing of a breakthrough MoU between French EPC major Technip Energies and NOC Petrosen, promising elevated capacity development programs for staff on some of the country’s largest offshore megaprojects and technical consulting on the delivery of H.E. President Macky Sall’s 2020 Gas Code and electrification plans. Further memorandums will be signed between INPG and Prometic Offshore as well as between Petrosen and its Guinean counterpart SONAP.
Lead platinum event sponsor bp are already making waves, having confirmed that a final investment decision (FID) for phase two development of its $4.6 billion 15 trillion cubic feet (tcf) Greater Tortue Ahmeyim works will be made shortly after MSGBC’s wrap-up, potentially doubling expected output from 2023’s 2.5 million tons per annum of liquefied natural gas to five million tons in 2024. This FID will be followed by a further decision to commit to the even larger 20 tcf Yakaar-Teranga field’s development by the year’s close.
The latest updates for both regional project frontrunners will be disclosed at MSGBC 2022 in keynotes, panel sessions and a prominent floor stand exhibition running throughout the two packed days of programming. Other notable speakers include H.E. Macky Sall himself; Per Magnus Nysveen, Co-Founder and Head of Analysis at Rystad Energy; Rita Madeira, Africa Program Officer at the International Energy Agency; NJ Ayuk, Executive Chairman of the African Energy Chamber; and Milton Catelin, Secretary General of the International Gas Union.
For further information, visit https://msgbcoilgasandpower.com/.