The outlook is critical in assessing Africa’s natural gas future, diving deep into the opportunities. challenges and innovative solutions to the accelerating growth.
The African Energy Chamber (AEC) officially launched its highly anticipated 2022 outlook for the African energy sector.
Dubbed, ‘The State of African Energy 2022’, the report includes some key insights and reliable information concerning the forces that shape Africa’s energy industry and the key areas that stakeholders should pay attention to soon.
Launched during a webinar on 25th October 2021, the AEC’s view is considered critical for energy stakeholders as they try to navigate Africa’s energy sector in the face of Covid-19 pandemic and energy transition-influenced market shift.
One of the primary topics identified during the webinar was the need for a balanced, Africa – centric energy transition. Emphasis was laid on how the continent needs to prioritize making energy poverty history while reducing carbon emissions at the same time.
The state of African energy 2022 report outlines the expected states of the oil, gas, and power industries in 2022.
The outlook will be critical in assessing Africa’s natural gas future, diving deep into the opportunities. challenges and innovative solutions to the accelerating growth that has been witnessed in the recent past.
Holding significant resources does not necessarily result in accelerated socio-economic growth. Rather, supportive regulation, market-driven policies, and investment-friendly fiscal terms will be critical if the continent is to realize its energy sector and economic objectives.
With the world competing for global capital now more than ever, the AEC’s outlook emphasizes the role that regional cooperation, harmonized regulations, and attractive business landscapes will play in 2022 and beyond.
The oil and gas sector is expected to see an increase in sanctioning and investment activities in 2022 as a result of improved cash flows from oil and gas companies due to the demand and supply recovery from the low levels in 2020.
Kenya is one of the few countries to develop geothermal energy and by 2040 it will account for almost 50 percent of the country’s power generation.
Currently, three-stone fires are still used for most cooking in Kenya, fueled mostly by charcoal in urban areas and by wood in rural areas. The government has initiatives that lead to 26 percent of the population having access to clean cooking by 2030.
The initiatives will see that everybody gains access to clean cooking by 2030. Most of the 25 million people otherwise without access in rural areas gain access primarily through improved and advanced cookstoves; LPG is the least-cost fuel for most of the urban population in the country.
Kenya is on the cusp of reaching universal access to electricity. Concerted government policy could help reach this aim through the grid and stand-alone connections in roughly equal measure.
It’s worth noting that Kenya has also made progress in deploying renewables in large part because it has successfully attracted the necessary private investment for renewables projects. Further development of these resources will help it meet demand growth.