As the world considers becoming less dependent on Russian gas in the wake of its costly invasion of Ukraine, is Africa’s share of this precious commodity estimated at 221.6 trillion cubic feet suddenly part of ‘the energy solution Europe so desperately needs?.
By Oumar Dembélé
Relations between Russia and Europe are increasingly distant, although the latter is dependent on this hydrocarbon giant for the supply of gas, which is heavily consumed in the Old continent.
In a piece to APA on Monday, Cameroonian NJ Ayuk,who is the executive chairman of the African Energy Chamber, notes that Russia currently supplies around a third of Europe’s crude oil imports and nearly half of its natural gas, or some 150 to 190 billion cubic meters of gas per year.
But with the crisis following the Russian invasion of Ukraine, Western countries, the European Union (EU) in particular, continue to tighten economic sanctions against Vladimir Putin’s Russia.
Faced with this situation, the business lawyer indicates that Africa has a role to play, if only to gain market share in this highly sought-after product.
“African countries can help bridge the gap. They can provide the + Freiheitsgas + which will tear Europe out of its dependence on Russian gas pipelines”, said Mr. Ayuk before specifying that it “will be difficult to achieve this”.
“African countries will need several months to increase their gas production, especially since until very recently Western leaders and environmental organizations have pushed for gas investments African countries are quickly stopped in the name of climate protection, which has caused foreign companies to take shelter,” he explained, noting that this conflict has broadened the meaning of “energy transition” in Europe.
“Environmental Concerns”
To find the African producer with considerable resources to take Russia’s place, NJ Ayuk proposes “swift action by European and African stakeholders” to reduce the time needed to flow and export the gas natural.
Stressing that Africa has a large amount of reserves, he invites the various actors to invest “quickly and significantly” to fill the “considerable lack of gas infrastructure”.
In addition, the Executive Chairman of the African Energy Chamber notes that “environmental concerns” could weigh down this alternative that some African countries could constitute in the showdown between Europe and Russia. “If this trend of interfering with the financing and production of oil and gas in Africa continues, existing gas projects in Mozambique, Tanzania, Nigeria, Equatorial Guinea, Mauritania, Congo and Senegal risk be compromised. New gas projects are unlikely to be launched or expanded. Capital goes where it is welcome”, he underlined, noting on the other hand that “we are not yet close to the laudable goal of zero-emission energy”.
“Today we are seeing the highest fuel prices in decades. As for natural gas, it reached a historic high in Europe on March 7 and continues to break records. So, no, Europe is not there yet, and neither is Africa. The production, transport and use of natural gas, the cleanest of all fossil fuels, is not even a necessary evil. It is a reasonable way to meet widespread energy needs while limiting carbon dioxide emissions,” argued the Executive Chairman of the African Energy Chamber.
ODL/cgd/as/APA