|The 2023 edition of African Energy Week will host an Invest in Niger Energies country spotlight, promoting opportunities, facilitating investment and kickstarting a new wave of project developments in the country
|JOHANNESBURG, South Africa, July 7, 2023/ — The Government of Niger is making great strides towards opening the domestic market for foreign investment, working closely with a suite of energy players and investors to drive long-term and sustainable developments.
As the market grows, the regulatory environment has been made that much more attractive, and the Government is inviting investors to join the burgeoning sector.During this year’s edition of the African Energy Week (AEW) conference and exhibition – scheduled for October 16-20 in Cape Town – a dedicated Invest in Niger Energies country spotlight session will provide potential investors with crucial insight into the developing market. Comprising a roundtable discussion, technical presentations, networking event and deal rooms, the summit serves as a networking and engagement hub for the country’s energy sector and is set to unlock a wave of opportunities and outcomes.At the center of the country spotlight is collaboration.
While Niger currently produces an average 20,000 barrels of crude oil per day, efforts to ramp up exploration and the development of regional pipelines are set to increase these levels substantially. The country holds approximately 3.7 billion barrels of proven oil reserves and over 24 billion cubic meters of recoverable gas reserves, thus creating an exciting investment prospect. High oil exploration success, attractive fiscal terms and relatively low operational costs associated with the market promise high returns for players.
As such, the AEW 2023 country spotlight will provide crucial updates into upstream prospects, avenues for investments and both regional and global trends. Notwithstanding an upstream push, Niger is making progress towards connecting domestic basins to regional consumers through the construction of cross-border pipeline networks. With much of Niger’s crude exported to regional markets including Nigeria, Mali and Burkina Faso, the country is eager to increase exports and facilitate intra-African trade.
Projects underway include the 2,000 km Niger-Benin Pipeline, connecting Diffa in Niger to Bight of Benin. The project is currently 75% complete and on-track to transport crude this year. Additionally, the multi-billion Trans-Saharan Gas Pipeline is making progress with a taskforce and roadmap established for its development by the respective ministries of Niger, Algeria and Nigeria.
The 4,128 km pipeline will run from Warri in Nigeria to Hassi R’Mel gas field in Algeria via Nigeria, creating a direct connection between Nigeria and Algeria’s gas fields while bringing significant benefits for Niger.Meanwhile, opportunities for investment transcend hydrocarbons with Niger making progress to expand its renewable energy sector. Investors have already expressed their interest in investing in the promising market, with Niger offering abundant solar and wind resources.
Savannah Energy Niger Solar inked a deal with the Government this year for the development of two solar power plants with a combined capacity of 200 MW, following a 2022 deal between the company and country for the construction of a 250 MW wind project.
These projects barely scratch the surface of Niger’s clean energy potential, and the AEW 2023 country spotlight will connect new players to Nigerien opportunities.“The opportunities for investment in Niger cannot be overstated. As a relatively untapped market, the country is inviting regional and global players to participate and help grow the entire energy value chain from oil and gas exploration to processing and refining to distribution and retail.
The AEW 2023 country spotlight is a unique opportunity for potential investors and project developers to meet with Nigerien leaders, discuss opportunities for collaboration and sign deals,” stated NJ Ayuk, Executive Chairman of the AEC, adding that, “AEW 2023 takes place under a mandate to make energy poverty history by 2030. Investing in Niger’s energy sector will not only enable the continent to achieve this goal but promises high returns on investment for participating players.
”The Invest in Niger Energies represents just one of many country spotlights set to take place during this year’s edition of AEW. Representing the premier event for the African energy sector, AEW 2023 is committed to making energy poverty history by 2030 by providing a platform where stakeholders can meet, network and sign deals. Taking place in Cape Town from October 16-20, AEW 2023 serves as the biggest gathering of energy stakeholders on the continent.
For more information, visit. www.AECWeek.com
Distributed by APO Group on behalf of African Energy Chamber.SOURCE
African Energy Chamber
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