Minister of Hydrocarbons of the Republic of Congo (ROC) Bruno Jean-Richard Itoua shed light on the country’s oil and gas development plans on Wednesday, as the Invest in African Energy forum in Paris came to a close.

The Minister confirmed that the government is prioritizing the formation of a gas master plan and comprehensive gas code and will establish a national gas company by Q3 2024. ROC has successfully fast-tracked the development of several large-scale LNG projects in recent months, including Eni’s Congo LNG and Wing Wah’s multi-phase Banga Kayo projects.

“Gas will be transformed mainly for the local market. Gas, LPG, LNG – this is the main target. If there is any excess, then we will export it. In terms of exporting, it will not be for Europe, but for the sub-region, where the needs are also very high,” stated Minister Itoua.

The Congolese Minister underscored the role of public-private sector cooperation in advancing integrated gas projects and driving upstream investment, with a view to increasing production and achieving market stability – targeting as much as a 60% oil production increase in one to two years. The country has also seen recent merger and acquisition activity, with Trident Energy acquiring Congolese assets from Chevron and TotalEnergies last month.

“Maybe 95% of investment in the oil sector in the Congo comes from the IOCs,” said the Minister. “Our responsibility [as the government] is to create the best business environment, best legal network and best facilities to attract investors and partners interested in building solutions with us.”

Speaking on the intersection between energy security and transition, Minister Itoua positioned universal access to electricity and clean cooking as key priorities for ROC and the continent.

“Our starting point is to solve energy poverty – not only for ourselves, but for the world. Is energy security in opposition to the energy transition? No – we can do both at the same time.”

Distributed by APO Group on behalf of Energy Capital&Power.

Turkish Cooperation and Coordination Agency (TİKA) established the “Radiophony and Sound Management Studio” within the Higher Institute of Music in Tunisia.

Türkiye’s Ambassador to Tunisia, Ahmet Misbah Demircan; the Deputy Minister of the Higher Education and Scientific Research of Tunisia, Ahmet Sheikh al-Arabi; TİKA’s Coordinator in Tunisia, Ali Fuat Cebeci; the Rector of the University of Sousse, Lotfi Belkacem; the Director of the Higher Music Institute of Sousse, Faher Hakima and local administrators attended the opening ceremony of the studio, which will be utilized within the Higher Music Institute in Sousse, a coastal city located in the south of the capital Tunis.

Speaking at the opening of the studio, Ambassador Demircan said, “This project is of great importance not only for students of the music institute, but also for Tunisian youth. We are extremely proud to implement these projects enhancing relations at all levels between Türkiye and Tunisia. We will continue to take part and support projects which will strengthen bilateral relations in the forthcoming period.”

The Director of the Higher Music Institute of Sousse, Hakima stated that the studio will be utilized by students, and this project will contribute to the university’s history as a success story.

Underlining that the project initially had educational purposes, Hakima said,

“We have been trying to establish a radio within the university since 2017. At the studio, established with high-tech equipment and materials especially for students with visual impairments, there is everything a professional radio station needs. We thank to TİKA for the studio they established within our university.”

“The 3rd professional studio established by TİKA in Tunisia”

TİKA’s Coordinator in Tunisia, Cebeci noted that the Radiophony and Sound Management Studio established within the Higher Music Institute of Sousse will greatly contribute to students’ education.

Cebeci also added,

“The studio in Sousse, where we are present today for the inauguration, is the third professional studio established by TİKA in Tunisia. We previously established studios within the Tunisia News Agency (TAP) and the Tunisian National Children and Youth Informatics Center. However, one of the elements that makes this project meaningful is that individuals with visual impairments would also benefit from this studio through special equipment provided.”

Cebeci also stated that as an institution, they give special priority to activities aimed at supporting disadvantaged groups in society.

Emphasizing that it will also be possible to broadcast online from the studio, Cebeci expressed that the studio, which increased the physical capacity of the institute, will develop students’ skills and increase job opportunities in employment market.

According to data from TİKA’s Tunisia Office, TİKA, which started its activities in Tunisia in 2012, has implemented nearly 250 projects and activities especially in the education field up to now.

Distributed by APO Group on behalf of Turkish Cooperation and Coordination Agency (TIKA).

On the sidelines of the recently concluded 2024 Islamic Development Bank (IsDB) Group Annual Meetings and Golden Jubilee Celebrations, African Export-Import Bank (Afreximbank or “the Bank”) (www.Afreximbank.com) concluded arrangements for a facility of USD 250 million with the International Islamic Trade Finance Corporation (ITFC) and USD 100 million with the Islamic Corporation for Development of the Private Sector (ICD) in support of trade and projects in Africa.

The lines of financing expected from ICD would strengthen the Bank’s capacity and reinforce its intervention in the private sector, particularly for enterprises with substantial development impact in ICD and Afreximbank’s Member States.

The facility from ITFC on the other hand, will provide Compliant Syndicated trade financing line thereby complementing the Bank’s trade finance offerings to its clients. 

As partners of the Arab Africa Trade Bridges (AATB) Programme, Afreximbank, ITFC and ICD are committed to promoting south-to-south trade among African and Arab countries for a common goal of advancing socio-economic prosperity and building sustainable trade and development across the regions.

The collective support from ITFC and ICD will also allow the Bank to deliver on its continental mandate of fostering industrialization, developing exports and full implementation of the African Continent Free Trade Area (AfCFTA).

Speaking during the signing ceremony, Prof. Oramah, President and Chairman of the Board of Directors of Afreximbank said: “I take this opportunity to thank Eng. Hani Salem Sonbol and the entire team at ITFC and ICD for the continued partnership with Afreximbank. The arrangements we have entered into today with the two institutions will go a long way in supporting Afreximbank in addressing the funding and structural challenges that stand in the way of Africa’s integration agenda.”

Distributed by APO Group on behalf of Afreximbank.

Media contact:
Vincent Musumba
Media Relations Manager
Email : press@afreximbank.com
Tel : +20 2 24564100 /1/2/3
Mobile : +201030121123

About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance, facilitate and promote intra and extra-African trade. For over 30 years, the Bank has been deploying innovative instruments to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the AfCFTA, Afreximbank has in partnership with the African Union Commission and AFCFTA Secretariat launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the Free Trade Agreement. The AFCFTA Secretariat and the Bank have created a USD 10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA.

At the end of December 2023, Afreximbank’s total assets and guarantees stood at US$ 37.3 billion, and its shareholder funds amounted to US$ 6.1 billion. The Bank disbursed more than US$ 104 billion between 2016 and 2023 through various interventions for the advancement of the continent. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”).

For more information, visit: www.Afreximbank.com

About ITFC:
The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among Organization of Islamic Cooperation (OIC) member countries, which would ultimately contribute to the overarching goal of improving the socio-economic conditions of the people across the world.

About ICD:
The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution that supports the economic development of its member countries. Based in Jeddah, ICD is a part of the Islamic Development Bank (IsDB) Group and was established in November 1999. With an authorized capital of $4 billion, ICD’s shareholders include the IsDB, 56 Islamic countries, and five public financial institutions.

Following the completion of major offshore gas projects, Mozambique will become the fourth largest LNG producer worldwide, with more than 30 million tons brought to market. The country’s inaugural FLNG facility started production in 2022, with the country recording a 6% growth in its GDP the following year. Similarly, Angola – through the Angola LNG project – witnessed a 14% year-on-year growth in LNG exports in 2023.

A CLG-sponsored panel discussion during the second annual Invest in African Energy Forum – organized by Energy Capital&Power -in Paris unpacked the role LNG has played in these markets, with speakers exploring strategies for gas monetization in emerging markets.   

As one of Africa’s newest LNG exporters, Mozambique has rapidly emerged as a highly attractive offshore gas market. The Eni-led Coral Sul FLNG project delivered its first cargo in 2022, setting the stage for the country to become a major player in the global gas market.

“Mozambique has huge potential when it comes to natural resources, and when it comes to gas, this potential is even higher. We operate Coral in Mozambique and it is a clear example of the role of gas. Coral was the first FLNG in ultra-deepwater worldwide. The impact of this project for the country is huge. In 2023, the GPD of the country increased by 6% – half of this growth was related to the sale of gas from Coral,” stated Marica Calebrese, Managing Director, Eni Rovuma Basin.

In addition to the Coral South project, Eni hopes to make FID for the Rovuma LNG project this year. The project monetizes gas from three fields in the Mamba complex in the first phase, with the development of two onshore liquefaction trains enabling the export of LNG.

Meanwhile, Angola plans to utilize gas to supply 25% of its energy needs by 2025, with developments in associated gas production and LNG serving as a catalyst for achieving this goal. Players across the market are implementing strategies to reduce flaring and bolster LNG production. Specifically, Afentra is developing a zero-flaring approach at its recently acquired Block 3/05 in Angola.

According to Ian Cloke, COO of Afentra, “There is a pipeline 5km north of the asset, which goes from the deepwater fields straight to Angola LNG. One of the plans going forward is to gather the gas, compress it and then pump it 5km to the LNG import line. Then you have a way to take an asset that has been flaring a lot and take it to zero flaring.”

For Angolan service providers, the expansion of Angola’s natural gas market means new opportunities for companies regarding contracts, participation and growth. Platforms such as the Association of Service Providers of the Angolan Oil&Gas Industry (AECIPA) facilitate participation by connecting companies to emerging projects across the value chain.

“To support gas monetization, we advocate for policies that would drive the main operators – be it service companies or project operators – to engage using gas and monetize it under the guidance of the Ministry. We also promote collaboration – both cross-country and internal. [Financing] is also a role the association plays, by promoting and bringing financing mechanisms into the country to support development,” stated Bráulio de Brito, Chairman of the Board of AECIPA.

Natural gas stands to support electrification and industrialization in Africa, if the right investment is directed towards domestic infrastructure. Ghana – with 1.7 trillion cubic feet of gas reserves – has a gas processing plant that produces 240,000 tons of LPG and 46,000 tons of condensate in about 15,000 tons of isopentane.

“The gas processing plant in Ghana produces isopentane, and companies are trying to turn that gas into electricity. The challenge faced is investment. Today, companies have the technology to make that happen but it falls down to investment,” stated David Pappoe Jr, CEO of Energas West Africa Limited.

Distributed by APO Group on behalf of Energy Capital&Power.