- West African Pipeline Project that delivers gas to Benin, Togo and Ghana can further play a massive role in regional gas development.
- Sahara Group seek investments and collaboration towards positioning gas as a critical resource for transitioning to net zero.
Sahara Group has urged African governments and regulators to adopt market-based regimes to stimulate the sustainable development of gas across the continent. A statement by the Head of Corporate Communications, Sahara Group Limited, Mr Bethel Obioma, said the company noted that appropriate commodity pricing would enhance investment and increase production and consumption growth. It also called for the inclusion of investors in gas policy development frameworks as part of strengthening the capacity and competitiveness of the sector in Africa.
Speaking during a panel session on the subject ‘The Game Changer: Enhancing African Gas Development Strategies and Investment Opportunities’ at the just-concluded African Energy Week, 2023, in South Africa, the statement quoted the Managing Director, Sahara Group Limited, Emmanuel Magani, as saying, “It is also essential to have the private sector drive a lot of the gas projects. We have the West African Pipeline Project, WAGP, that delivers gas to Benin, Togo and Ghana. This project has the potential to further play a massive role in regional gas development, given market-based regimes and adequate investments.
“It is essential to have the right type of market regime to ensure adequate returns to all key stakeholders. We need to have market-based price regimes to drive and support the level of infrastructure required to transform gas development and utilisation in Africa. Gas can also play an increased role in Africa’s commitments to reduce carbon emissions. For instance, according to McKinsey & Co, Nigeria has installed capacity of about 40 – 60 gigawatts, GW, of petrol and diesel generators. Switching that capacity to the electricity grid will lead to an almost 33 metric tonnes of carbon dioxide emissions reduction annually- equivalent to about 12% of Nigeria’s current greenhouse gas emissions. Similarly, substituting firewood, charcoal, and kerosene with LPG would have a similar effect.”
Magani noted that as a leading player in Africa’s oil and gas sector, including operations in Asia, Europe and the Middle East, Sahara Group continues to seek investments and collaboration towards positioning gas as a critical resource for transitioning to net zero.