With Africa seeking to accelerate its economic growth whilst ensuring energy access for all, the optimal production and exploitation of the continent's estimated 125.5 billion barrels of crude oil and 620 trillion cubic feet of gas reserves is key, and Africa's national oil companies (NOCs) have a critical role to play. In this regard, the African Energy Chamber (AEC) is proud to announce that South African state-owned energy company, the Central Energy Fund (CEF) -- which itself has a mandate to make energy poverty history across the continent by 2030 -- will be attending and participating at the African Energy Week (AEW) (www.AECWeek.com) conference and exhibition -- taking place from October 18 -- 21 in Cape Town - as the host NOC and a platinum sponsor. As the host NOC and a platinum sponsor for AEW 2022, CEF and its subsidiaries will welcome delegates, ministers and fellow NOCs at the continent's largest energy gathering.
Representing Africa's second largest and most industrialized economy, the participation of CEF as the host NOC and platinum sponsor at AEW 2022 -- Africa's premier event for the oil and gas sector -- will be crucial for shaping thoughtful discussions around how Africa can enhance investments and developments across the entire energy value chain to be able to provide access to energy to the over 600 million people currently living without whilst fueling long-term and sustainable economic growth.
With CEF Group working towards secure, reliable and affordable energy solutions for South Africa by 2030, the state-owned enterprise -- through its various arms including PetroSA; the Strategic Fuel Fund; oil and gas exploration and production company, iGas Energy; and the Petroleum Agency of South Africa - has and continues to be instrumental in driving energy sector growth across the southern African region through partnerships with regional and global energy companies and investors.
With inadequate investment across the entire oil and gas value chain causing the continent to suffer chronic energy shortages and high fuel prices, CEF has emerged as a driver of oil and natural gas developments in South Africa as well as across the entire African continent. Notably, as both Mozambique and South Africa expand their domestic gas economies, CEF is one of the key players, promoting regional integrated energy sector growth by developing, owning and operating the 865km gas transmission pipeline connecting the two countries. In collaboration with integrated energy and chemical company Sasol, CEF Group has also pledged to reducing energy imports and ensure long-term energy security in South Africa through the increased production and use of the country's gas resources.
"The Chamber is proud to have the CEF Group as the host NOC for this year's edition of AEW 2022. The NOC's presence at Africa's biggest energy event is a strong testament of the works being done by the AEC in partnership with African NOCs and energy market players to deliver a just energy transition for Africa through the exploitation of the continent's oil and gas resources. We believe Africa will prosper if it drills more oil and gas wells and exploit these resources for its energy needs. This is what the CEF and other NOCs will be discussing at AEW 2022," states NJ Ayuk, the Executive Chairman of the AEC.
With the CEF in search for appropriate energy solutions to address the ongoing electricity shortages in South Africa through the diversification of the energy mix, AEW 2022 presents the best platform for the host NOC to promote opportunities for partnerships with regional, continental and global energy companies and investors. As the host NOC and platinum sponsor for AEW 2022, top executives from the CEF will have access to exclusive panel discussions and networking forums where updates regarding the NOC's current projects and future strategies both in South Africa and across the region will be shared.
Distributed by APO Group on behalf of African Energy Week (AEW).
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About African Energy Week (AEW) 2022:
AEW 2022 is the AEC's annual conference, exhibition and networking event. AEW 2022 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments. Key organizations such as the African Petroleum Producers Organization, as well as African heavyweights including Equatorial Guinea and Nigeria, have partnered with AEW, strengthening the role the event will play in Africa's energy future.
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