Senegal’s Minister of Petroleum and Energies to Deliver Keynote at AEW

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Representing one of Africa’s new frontiers, H.E. Aissatou Sophie Gladima will join African Energy Week to showcase Senegal’s immense energy potential.

The African Energy Chamber (AEC) is delighted to announce that H.E. Aissatou Sophie Gladima, Minister of Petroleum and Energies of Senegal, will be addressing attendees at this year’s edition of African Energy Week (AEW) in Cape Town, scheduled to take place from October 16-20. During the highly-anticipated event, H.E. Gladima will showcase Senegal’s vast energy potential, driving investments and strengthening partnerships while consolidating the country’s position as a major energy player.

Situated on Africa’s western coastline, Senegal boasts substantial oil and gas reserves, and under the leadership of H.E. Gladima, the Ministry of Petroleum and Energies is actively working towards harnessing these reserves to unlock a new era of energy security and economic growth. This strategic approach aims to ensure a stable and sustainable energy future for the country while also positioning Senegal as a key player in the regional energy landscape. In the short term, two major oil and gas projects are expected to come online while a wave of upstream opportunities and new projects are expected to trigger newfound capital flows in the market.

Specifically, 2023 will see both the Sangomar Field Development and the Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) projects coming online, with production estimated at 100,000 barrels per day and 2.5 million tons per annum (mtpa) of LNG, respectively. Led by Woodside Energy in collaboration with Senegal’s national oil company Petrosen, the Sangomar project is valued at $4.6 billion, and is projected to yield approximately 231 million barrels of oil during its initial phase. The total estimated recoverable oil resources over the lifespan of the project are estimated to be around 500 million barrels. Meanwhile, the GTA offshore LNG project, located on the maritime border of Mauritania and Senegal, represents Africa’s deepest offshore development with an estimated production of 2.5 mtpa in the first phase and 5 mtpa in the second, constructed at a total cost of $4.6 billion. The project remains on track to come online at the end of this year, shortly after AEW 2023.

Additionally, the Yakaar-Teranga development – situated offshore Senegal and offering up to 15 trillion cubic feet of reserves – is set to offer extensive opportunities regarding power generation, with project partners bp and Kosmos Energy expecting a final investment decision this year. The project is currently in its feasibility stage.

While these projects signal the upstream development potential of Senegal’s offshore basins, they are also a testament to the role regional collaboration plays across the MSGBC region. Under the leadership of H.E. Gladima, the Ministry remains focused on leveraging cross-border partnerships to drive successful project developments, a topic which will be widely explored during AEW 2023. During the event, H.E. Gladima will highlight this commitment at AEW, promoting cross-border energy initiatives and encouraging engagement with neighboring nations. With joint projects, infrastructure sharing, and policy harmonization, Senegal aims to strengthen its regional energy hub status, fostering sustainable development and economic growth in West Africa.

The country has also made impressive strides in renewable energy, surpassing its 30% target for renewable energy inclusion in its energy mix by 2025, with a total consumption of 36.6% from renewables in 2022. With an installed solar capacity of 240 MW and significant photovoltaic potential, along with estimated hydropower potential of 1,200 MW and 350 MW per km² of wind power potential, Senegal has lucrative opportunities for diversifying its energy mix while expanding energy access and industrialization.

As such, Senegal’s Ministry is focused on establishing the relevant energy infrastructure and supportive legal frameworks to lower electricity production costs in line with its energy mix policy. This policy, essential for achieving the goals outlined in the Emerging Senegal Plan and ensuring universal access to electricity, emphasizes domestic gas and renewable energy sources, including storage development. Under this plan, Senegal has prioritized its energy goals and adopted a ‘gas-to-power’ strategy which hinges on the development of its abundant local gas resources to generate affordable and high-quality energy. This strategy aims to position Senegal as a regional energy hub, attracting valuable foreign investment and bridging the remaining energy gap.

“We are honored to have H.E. Aissatou Sophie Gladima, Minister of Petroleum and Energies of Senegal, attend AEW 2023. Her presence signifies the commitment and leadership of Senegal in driving the African energy sector forward. We look forward to her valuable insights and contributions, as she shares Senegal’s achievements, goals, and opportunities during this momentous event. Together, we can unlock the full potential of Africa’s energy resources and pave the way for sustainable development and prosperity on the continent,” states NJ Ayuk, the Executive Chairman of the AEC.

African Energy Week (AEW) is the African Energy Chamber’s (AEC) interactive exhibition and networking event, established in 2021, that seeks to unite African energy stakeholders, drive industry growth and development, and promote Africa as the destination for African-focused events. For further information on the African Energy Week 2023 conference, click the link below:

https://www.aecweek.com/aew-23/