YE Hage Geingob, President of the Republic of Namibia,
Honourable Ministers,
Esteemed guests and participants,
Ladies and gentlemen,
I would like to convey my heartfelt gratitude to the Africa Energy Chamber for extending the invitation to speak at Africa Energy Week.
I am delighted to return to Cape Town, a city of both historical depth and progressive ambition, with the majestic Table Mountain standing as a reminder of the enduring beauty of our continent. In 1998, I was privileged to visit this city on the occasion of the 6th Ministerial Meeting of the International Energy Forum. Those were transformative times for South Africa, as the nation stepped into the light from the shadows of apartheid, guided by the visionary leadership of the legendary late Nelson Mandela, Madiba.
Three years later, in 2001, the Gas Exporting Countries Forum, the GECF, was established, an organisation that continues to expand and prosper. Today, it proudly encompasses twenty member countries across four continents, with Africa taking the lead with its eight member countries.
Since I assumed office, two African countries have joined the organisation. Last year, in February, the Republic of Mozambique became a member of the Forum. I wish to reiterate my warmest congratulations to Mozambique for joining the GECF family and for the successful commissioning of the Coral Sul LNG plant in November 2022. I hope this venture brings both peace and prosperity to Mozambique. According to our projections, Mozambique is poised to become the fifth-largest LNG exporter globally by 2050.
Furthermore, just last week in Malabo, Equatorial Guinea, the 25th Ministerial Meeting of the GECF gave a warm welcome to the Islamic Republic of Mauritania as a new member. I extend my deepest congratulations to Mauritania, and convey my best wishes for continued peace and prosperity, as it prepares to emerge as an LNG exporter at the beginning of next year.
In September 2002, I attended the World Summit on Sustainable Development, held at the magnificent Sandton Conference Centre in Johannesburg. The WSSD adopted a Political Declaration and an ambitious Plan of Implementation. The Declaration emphasized that “the deep fault line that divides human society between the rich and the poor and the ever increasing gap between the developed and developing worlds pose a major threat to global prosperity, security, and stability".
This remains just as relevant today, as echoed by the UN SDG Summit held last month in New York. The latest United Nations Sustainable Development Goals Report sounds a clear alarm, highlighting significant implementation gaps from the 2030 Sustainable Development Agenda.
Now at the halfway mark, the vast majority of the 140 targets set in 2015 are off track. The promises of the Sustainable Development Goals, especially in Africa, remain largely unmet. The challenges posed by economic disparities, climate change, and the essential commitment to ensuring no one is left behind are monumental, demanding world’s unwavering focus and attention. In the current environment with high inflation, soaring interest rates, and pervasive debt, the challenges become even more daunting.
Another pivotal event soon to be hosted in Dubai is COP28. This Climate Conference is expected to spotlight significant gaps in the implementation of the Paris Agreement, emphasizing yet again the unmet pledges.
For Africa, climate finance remains paramount. The commitment made by developed countries in Copenhagen in 2009—to provide $100 billion annually starting from 2020—remains unfulfilled. This is also the case for the adaptation fund, technology transfer, and capacity building.
Let us work collaboratively to ensure that COP28 becomes the Climate Conference where promises transform into tangible actions.
Excellences, Ladies and gentlemen,
Energy is crucial to the three intertwined and mutually supportive pillars of sustainable development: economic growth, social progress, and environmental protection.
Energy drives progress across all sectors of society. From powering industries that bolster economies, to providing the means for essential services such as healthcare, education, and clean water, reliable energy sources are paramount.
The last four years have further emphasized this significance. The convergence of the coronavirus pandemic, economic and financial stresses, and geopolitical shifts has propelled the energy trilemma to the forefront of policymakers' agendas: how to simultaneously ensure energy security, energy equity, and environmental sustainability. This intricate balancing act is demanding for all nations, but it holds particular complexity for Africa.
Looking to the future, the dichotomy deepens as global demand for more energy coincides with the need for reduced greenhouse gas emissions. According to the latest GECF Global Gas Outlook, global primary energy consumption is expected to rise by 22% in the period to 2050, underpinned by a projected global population increase of 1.7 billion, primarily in developing countries, and an expected doubling of the global economy, surpassing 200 trillion US dollars.
Meeting this varied energy demand while safeguarding the environment underscores that there is no universal solution or one-size-fits-all model. Achieving sustainable development goals requires a nuanced integration of diverse energy sources and technologies, tailored to the unique circumstances, capabilities, and priorities of each country.
Yet, in this intricate tapestry of energy pathways, one prominent thread stands out: natural gas.
Available, clean, flexible, versatile, natural gas emerges as a catalyst for an equitable energy transition — one that champions inclusivity and ensures no one is left behind.
Natural gas presents a sustainable alternative to traditional fuels such as wood and dung, effectively mitigating the adverse impacts of indoor pollution and helping to combat deforestation.
Transitioning from the use of traditional biomass to cleaner cooking solutions like LPG can significantly contribute to reducing the staggering death toll associated with indoor pollution, which the World Health Organization estimates to be around 2.3 million per year.
Moreover, natural gas not only improves air quality in densely populated urban areas but also bolsters the resilience and reliability of power grids that depend on intermittent and variable energy sources like solar and wind.
Equally important is natural gas instrumental role in global food security as it is a key component in fertiliser production.
GECF projections paint a compelling picture of natural gas' ascent, with a remarkable 36% increase of demand over the period to 2050.
Excellences, Ladies and gentlemen,
For Africa, blessed with a young demographic and abundant natural resources, yet plagued by energy poverty, socio-economic development is an overriding priority.
With 40% of the continent’s population without access to reliable electricity, the energy needs are staggering. They are projected to more than double by 2050, supported by a population rise from 1.4 billion today to 2.5 billion in 2050 and an almost tripling of GDP.
Of particular note is the remarkable growth of natural gas in the African energy mix, which has increased from 10% in 2000 to a significant 17% in 2021 and is projected to steadily rise to 23% in 2050. This demonstrates continuous growth, unlike other energy sources, especially to meet the continent's electricity generation needs, which are set to more than triple by 2050.
Africa's natural gas reserves are huge, exceeding 17 trillion cubic meters. Natural gas resources are even higher, estimated to be around 45 trillion cubic meters. Africa remains underexplored.
However, converting gas reserves into reliable supply requires substantial investments in exploration, development, infrastructure, and human capacity building.
The notion that natural gas investment is incongruent with climate change mitigation is misguided. African nations, bearing no historical responsibility for climate change and contributing only a mere 3% to global greenhouse gas emissions, should not be penalised for using their natural resources to lift their people out of poverty. We call upon international financial institutions, and notably the African Development Bank, to extend their support to natural gas development projects in Africa.
Excellences, Ladies and Gentlemen,
When I visited the national museum in Malabo last week, I learned an African proverb that says: “if your dream is to move a mountain, then you must start by lifting stones today”.
I wish you an enjoyable Africa Energy Week, with productive stones’ lifting in the pursue of our shared dream of a developed and prosperous Africa, the cradle of humanity.
Thank you