Guest Contributor | Oct 27, 2023 | 0
Rystad Energy, S&P Global set to participate in upcoming 5th edition of Namibia International Energy Conference 2023
Global research and business intelligence company Rystad Energy and international market intelligence firm S&P Global have confirmed their participation in the upcoming fifth edition of the Namibia International Energy Conference (NIEC) 2023 that will take place later this month between oil executives, government authorities, and global investors serving to generate investment and kickstart new developments across the country’s energy sector.
Rystad will join as a strategic knowledge partner to advance energy-related dialogue and engagements, and S&P Global will lead panel discussions and high-level workshop sessions to provide information into the evolving energy landscape to make a strong case for investing in Namibia.
According to a statement issued last week by the African Energy Chamber (AEC), the conference, which is taking place from 25-27 April in Windhoek, comes hot on the heels of a series of developments in Namibia’s energy market.
This follows recent reports that oil and gas discoveries including TotalEnergies’ Venus 1-X, Shell’s Graff-1 in 2022, and Jonker-1X this year, turned Namibia into a global exploration and production hub for international majors and independents.
Following a strong start to the year in 2022 with the announcement of two major oil and gas discoveries made weeks apart by global energy majors Shell, TotalEnergies, and Qatar Energy – the Venus and Graff-1 discoveries contributed the highest value of global finds in 2022 – the country witnessed the signing of several industry-advancing agreements that kicked off the development of large-scale green hydrogen projects.
“Since these discoveries, the market has seen a heightened interest from a suite of regional and global players, with NIEC 2023 serving as the ideal forum to expand knowledge and insights regarding the Namibian E&P landscape. With its participation, Rystad Energy will advance knowledge sharing, laying the foundation for new deals to be signed and partnerships formed,” read the statement by AEC.
On the other hand, this comes as the government seeks to boost energy access, socioeconomic development, and economic growth by leveraging local resources, especially the hydrocarbons industry, which has a vital role in guaranteeing energy security for the southern African country.
While the availability of adequate investments continues to challenge the global oil and gas industry, platforms such as NIEC and the participation of Rystad Energy will be vital in shaping discussions around best practices for Namibia to adopt to attract foreign direct investments, according to the AEC. “With various factors such as increases in energy demand and geopolitical trends disrupting global energy security, Namibia’s oil and gas industry has a huge role in balancing global supply.”
“The AEC, as the voice of the African energy sector and a strategic partner for NIEC 2023, looks forward to Rystad Energy’s participation at this year’s NIEC 2023 conference. Rystad’s research and market intelligence has been crucial for maximizing Africa’s stance on the role local energy resources can play in addressing energy access, affordability, poverty, and security matters. The presence of Rystad at NIEC will be vital for highlighting exploration trends and opportunities within Namibia’s energy industry for global energy services companies and investors,” NJ Ayuk, the Executive Chairman of the AEC commented.
Meanwhile, Energy Capital & Power (ECP) which represents the leading investment platform for the energy sector, will also participate at this year’s event, promoting its upcoming Namibian-focused market report, Energy Invest Namibia.
“On the renewables front, Rystad Energy’s participation at NIEC is instrumental for enhancing the exchanging of ideas around investment and partnership opportunities within the country’s solar, wind, and green hydrogen industry. With the Namibian government accelerating diversification, the country’s untapped renewables and green hydrogen potential have turned the market into an investment destination for European and global clean energy investors. Large-scale green hydrogen projects positioning Namibia among Africa’s green energy capitals include Fortescue and Enersense’s Daures Green Hydrogen Village, RWE and HYPHEN Hydrogen Energy’s green ammonia initiative, and German-backed Power-to-X green hydrogen pilots across the southern African country.
Produced in partnership with Namibia’s Ministry of Mines and Energy, the publication serves as a framework and guideline on how to invest in the country’s energy sector. Join Rystad Energy, the AEC, ECP, and many more high-level organizations at this year’s NIEC conference,” according to the AEC.