The Namibian Investment Promotion Development Board will be showcasing investment opportunities across the country’s oil, gas and green hydrogen industries as a diamond sponsor during the African Energy Week 2022 conference.
JOHANNESBURG, Sept. 19 — The African Energy Week (AEW) 2022 conference and exhibition – Africa’s premier event for the oil and gas sector which will be taking place from October 18-21 this year in Cape Town – will serve to drive long-term energy investment in Africa to usher in a new era of socioeconomic growth. In line with this objective, and as a facilitator of improved local and foreign direct investment in Namibia, the Namibian Investment Promotion Development Board (NIPDB) will be participating as a diamond sponsor at this year’s edition of the AEW conference.
Representing one of Africa’s fastest-growing energy markets, the NIPDB’s presence and participation as a diamond sponsor at Africa’s biggest event for the energy sector will be crucial for shaping the dialogue around current investment trends as well as the challenges and opportunities present across both Namibia’s and the continent’s energy sector.
The discovery of sizable oil and gas reserves by TotalEnergies at the Venus 1-X well; and Shell and Qatar Energy at the Graff-1 well in early 2022 – as part of a massive exploration campaign launched by the Namibian government to maximize the exploitation of local energy resources to meet local and regional energy needs – has opened up significant opportunities across the entire energy value chain in Namibia. In addition to realizing the potential of the country’s oil and gas prospects, the discoveries, along with the country’s favourable investment climate, have positioned Namibia as a lucrative investment destination in 2022 and beyond.
Moreover, with major players expanding upstream investments across Namibia’s untapped hydrocarbon-rich basins – in search of similar discoveries made at Venus and Graff-1 – massive investment opportunities remain across exploration and production landscapes. By shaping critical conversations in keynote addresses and networking forums, NIPDB will highlight these opportunities to regional, continental and international energy stakeholders and investors whilst promoting the role the country’s oil and gas will play in making energy poverty history across the continent by 2030. For Namibia, the discoveries promise a new era of economic growth on the back of oil and gas while for Africa, new supply streams at a time when the continent desperately requires new sources of energy.
While Namibia’s oil and gas industry undergoes impressive growth, the country’s green hydrogen sector has also emerged as one of the world’s most attractive and fastest-growing markets. Backed by abundant solar and wind potential, Namibia’s burgeoning green hydrogen industry has the potential to supply rapidly growing demand at a global scale whilst driving sustainable economic development and GDP growth at the regional level. Backed by an attractive regulatory environment and the country’s strategic location to become a green hydrogen exporter for international markets such as Europe, Namibia’s green hydrogen market – kickstarted with the development of a $9.4 billion project with Hyphen Hydrogen Energy in the Tsau/Khaeb National Park and recent plans to develop four hydrogen valleys in the Erongo, Karas, Otjozondjupa and Kunene regions – is headed for further expansion.
As such, the NIPDB is set to drive the green-hydrogen narrative at AEW 2022, leading high-profile discussions around the role a combination of private and public sector investments, and continental and regional investment partners will play in stimulating market development, growth and expansion. With the company set to host an Invest in Namibia side event at AEW 2022, key insight into current and emerging investment opportunities, the role Namibian energy plays in Africa’s energy future and strategies for securing foreign investment in 2022 and beyond will be deliberated.
“Namibia represents one of Africa’s biggest emerging energy markets, with sizeable investment and large-scale developments kicking off across the entire energy sector and value chain. On the oil and gas front, the country is witnessing newfound growth on the back of two historic discoveries made this year while on the green hydrogen front, Namibia-German investment partnerships lay the foundation for accelerated industry growth. Largely driven by the NIPDB, Namibia has established itself as one of the top energy investment destinations worldwide, and the NIPDB will share further insight at AEW 2022,” states NJ Ayuk, the Executive Chairman of the African Energy Chamber (AEC).
Under the theme, ‘Exploring and Investing in Africa’s Energy Future while Driving an Enabling Environment,’ AEW 2022 will host NIPDB in high-level meetings and panel discussions where the organization will make a strong case for the massive investment required to fast-track Namibia’s hydrocarbon boom. Through these sessions and the Invest in Namibia side event, the country’s investment landscape will be presented to regional and international players.
Distributed by APO Group on behalf of African Energy Week (AEW).
