MSGBC 2022 convenes under the theme “The Future of Natural Gas: Growth Using Strategic Investment and Policymaking,” and with good reason. Across the Basin, an estimated 50 trillion cubic feet (tcf) of natural gas reserves are held, and the basin’s nations are capitalizing on this natural wealth, each with licensing rounds active or planned. Senegal will soon release a new round following its recent 12; The Gambia has five offshore blocks and two onshore blocks set for release this year; five deepwater blocks are open in Guinea-Bissau’s latest special tender round; and Guinea-Conakry is finalizing bidding terms for a 22-block offshore round. Already active in the region are international oil majors including Australia’s FAR; Britain’s bp, Shell and Harbour Energy; France’s TotalEnergies; Norway’s PetroNor; Iraq’s Star Oil; China’s Addax; Malaysia’s Petronas; America’s ExxonMobil and Kosmos Energy; Algeria’s Sonatrach; and Ireland’s Tullow Oil along with Capricorn Energy – the latter two in the process of merging.
Against a backdrop of large-scale developments across the entire MSGBC energy spectrum, MSGBC Oil, Gas & Power 2022 represents the official platform to connect with investors, network with stakeholders and sign deals that will further expand the regional sector. On the hydrocarbon front, with nine billion barrels of oil equivalent present across MSGBC nations, projects such as the 500 million-barrel deepwater Sangomar project make a strong case for oil exploration and investment. Similarly, with natural gas set to transform the regional energy and economic space, the conference will present updates, provide insights and showcase opportunities associated with projects such as the 15 tcf Greater Tortue Ahmeyim (GTA) development; the 20 tcf Yakaar-Teranga project; and the 13 tcf BirAllah project.
MSGBC liquefied natural gas (LNG) represents a central theme during the conference, with many ‘firsts’ associated with regional developments. 15 tcf of natural gas has been unlocked in the GTA field, Africa’s deepest offshore project, while in Mauritania, an agreement signed by the government last year will bring in LNG specialist firm, New Fortress Energy for the nation’s first major gas-to-power development. Fed by one tcf of natural gas reserves, tapped in the Banda field offshore Nouakchott, this project is made possible only by New Fortress Energy’s groundbreaking modular LNG technology, facilitating a scale-up of facilities, reducing upfront costs while maximizing efficiency.
In addition to oil and gas, upcoming renewable developments are positioning the region at the forefront of Africa’s energy transition. Projects such as Chariot’s $3.5 billion, 10GW green hydrogen Project Nour in Mauritania, Senegal’s 158.7MW Taiba N’Diaye wind farm and Guinea-Conakry’s 450MW Souapiti Hydropower Station showcase the potential of the region. As investor interest grows, MSGBC Oil, Gas & Power 2022 welcomes financiers not only from across Africa but also Europe, Asia, America, Australia and the Middle East. Last year, $2.5 billion worth of deal were signed at ECP’s events, with the MSGBC conference, in particular, set to usher in a wave of new deals on the back of large-scale developments taking off across the region.
The event’s line-up features market-driven sessions including a Security Forum, spotlighting the impact of geopolitics on foreign direct investment (FDI) and showcasing ways in which this implication could be re-engineered for a competitive advantage; a Technological Innovation and the Future of the Energy Industry forum will highlight the region’s potential flagging LNG as vital; an national oil company (NOC) Forum, gathering regional NOCs to share experiences on current challenges and opportunities; a Finance and Energy Session, exploring financing onshore upstream development in west Africa; as well as other sessions including project updates, roundtables and live interviews.
In the words of ECP’s Conference Director, Sandra Jeque, “MSGBC Oil, Gas & Power is a platform like no other, presented in partnership with the region’s energy ministries, NOCs and international oil companies, with the potential to transform the future of west African energy through FDI at unprecedented scale, facilitating spring-boarded sustainable socioeconomic development for the region. With $2.5 billion worth of deals signed at ECP’s events last year alone, MSGBC 2022 grants west Africa the potential fiscal means to really fast-track its world-class megadevelopments, bringing about a robust post-pandemic recovery for each nation.”
For further information, visit https://msgbcoilgasandpower.com/.