Producing lower emissions than that of its coal and oil counterparts, natural gas offers the solution to driving long-term and sustainable socio-economic growth in Africa on the back of improved industrialization and electrification, and Angola’s resources are at the forefront of the continent’s development agenda.
With over 11 trillion cubic feet of proven natural gas reserves, Angola has already begun to capitalize on the potential this resource holds, with several large-scale developments underway that are set to transform the domestic and regional energy landscape. The most notable of these is the Angola Liquefied Natural Gas (ALNG) development located in Soyo. For its part, ALNG represents the largest single investment in the Angolan oil and gas industry and is a result of a partnership between state-owned Sonangol and global energy majors Chevron, bp, Eni and TotalEnergies. ALNG commercializes associated natural gas and supports offshore oilfield development, with the capacity to process approximately 1.1 billion cubic feet of natural gas per day.
For Angola, the project has been transformational, ushering in a new era of energy security and revenue generation on the back of liquefied natural gas.
Meanwhile, with the objective of bringing new resources online and establishing a competitive processing and export hub in Angola, the country – through the national concessionaire, the National Agency for Oil, Gas and Biofuels – is committed to scaling up exploration. Prioritizing the upstream market, Angola has celebrated several developments in 2022 such as a final investment decision announced for the Quiluma and Maboqueiro fields – the country’s first non-associated natural gas projects. Set to be delivered to the ALNG plant, resources from these fields will help scale up production in the country.
However, despite these developments, much of Angola’s natural gas resources remain largely untapped, offering significant opportunities to companies from across the entire value chain. Notwithstanding opportunities across the upstream industry, Angola’s mid- and downstream industries are ripe for investment. In the power generation space, for example, new resources that are being brought on the market signal new prospects for gas-to-power, while for industry, open up opportunities for petrochemicals and manufacturing. With these sectors largely undeveloped, AOG 2022 is committed to unlocking new capital for project takeoff across the entire value chain, leveraging Angola’s potential as a natural gas powerhouse to trigger newfound growth across the entire market.
In this regard, AOG 2022 represents the ideal platform for domestic companies looking at claiming their spot in the rapidly expanding gas market; for regional players looking at establishing intra-regional gas networks and supply chains; for global energy majors looking at expanding their footprint across southern Africa’s gas sector; as well as for the state of Angola which is looking at significantly improving electrification, industrialization and economic growth.
To capitalize on the opportunities Angola’s natural gas sector holds, join industry leaders, global financiers, and both private and public sector players at AOG 2022 in Luanda and help forge a natural gas economy in Angola.