According to Brown, putting money into African gas assets would assist western countries improve their energy security and lessen their reliance on countries that might politicize their energy supply. Additionally, it would hasten African development objectives through increased trade and investment and direct the continent's energy transition by promoting ESG compliance and lower-carbon energy sources.
The gas industry in Africa offers industrialized countries a tremendous opportunity to diversify their energy sources in the face of European turmoil while still upholding their environmental obligations. Speaking at the Africa Oil Week (AOW), which is taking place here from October 3–7, Roger Brown, the CEO and executive director of the Nigerian energy firm Seplat Energy Plc, expressed this opinion.
According to him, investing in Africa's energy sector will benefit developed countries by enhancing their energy security while minimizing environmental impact and meeting all ESG standards.
According to Brown, putting money into African gas assets would assist western countries improve their energy security and lessen their reliance on countries that might politicize their energy supply.
Additionally, it would hasten African development objectives through increased trade and investment and direct the continent's energy transition by promoting ESG compliance and lower-carbon energy sources.
According to Brown, gas is much less carbon-intensive than coal, producing only 202 kg of CO2 per MWh as opposed to coal's 354 kg/MWh. He cited a statement from the Mo Ibrahim Foundation that said that even if all of sub-Saharan Africa (except from South Africa) tripled its use of gas for electricity, it wouldn't increase world carbon emissions by more than 0.6%. Leading gas supplier for power in Nigeria is Seplat Energy.
The ongoing conflict in Ukraine and recent damage to the Nordstream gas pipeline between Russia and Europe frame Brown's remarks.
Ursula von der Leyen, president of the European Commission, stated earlier this year that "we must become independent from Russian oil, coal, and gas." We must take action right away to lessen the effects of growing energy prices, diversify our gas supply for the upcoming winter, and quicken the switch to clean energy.
According to Brown, from the standpoint of Nigeria, stronger energy collaborations with the West would foster economic growth, spur job growth, and supply industrialized nations with more dependable and affordable energy.
Everyone would benefit from it, he declared. Additionally, switching back to coal, as some European countries are doing, is significantly more harmful than using gas. In response to energy instability, Austria and Germany both recently announced plans to revive coal-fired power plants.
By diversifying their suppliers and sources, industrialized countries may lessen the effects of the turmoil in Europe while also reducing the existential threat posed by climate change by embracing African gas.
Brown was addressing at the conclusion of Africa Oil Week's (AOW) excellent opening day, which brought over 50 African oil ministers, over 2000 attendees, and corporate delegations.
