According to a new study by energy transition research firm Thunder Said Energy, global energy spending will hit an all-time high of $13 trillion in 2022, accounting for 13% of global GDP.
Soaring energy commodity prices, which are caused by energy supply chain restrictions, increased energy demand, and geopolitical concerns, such as Russia’s invasion of Ukraine, have resulted in a quick increase in spending.
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Building on three successful editions, the fourth edition, taking place on 3-4 December in Senegal, will open further deal-signing opportunities for regional and foreign investors.
While some analysts propose that existing discoveries hold enough oil and gas to meet global demand for the foreseeable future, others argue that the remaining supply will not sustain us beyond the next quarter century.
Africa’s gas resources stand to play a central role in achieving regional and global energy security, while meeting climate targets.
