African Energy Chamber Urges Global Investment in Oil and Gas

As the G20 convenes in Johannesburg, the African Energy Chamber (AEC) has called for renewed global investment in African oil and gas. This call aims to drive industrialization, improve energy access, and enhance regional prosperity. The AEC highlights Africa's vast energy resources, projecting significant increases in oil and gas production by 2030.

Despite Africa's potential, restrictive global financing frameworks threaten investment. The AEC emphasizes the need for a reorientation of energy policies to support exploration and development. This includes leveraging Africa's 620 trillion cubic feet of gas reserves, critical for both global and domestic markets.

The Chamber applauds the U.S. $4.5 billion financing commitment to Mozambique's LNG project, urging more such investments. It stresses that a comprehensive energy mix is essential, combining LPG, gas-to-power, and large-scale natural gas development to fuel industrial growth and lift millions from energy poverty.