An energy transition that’s taking place on the African could save our planet.
NJ Ayuk, the Executive Chairman of the African Energy Chamber and best-selling author, rings an alarm bell on how pressing and the imminent climate change. He comes up with actionable steps on how to stop this alarming process. His plan is not about the complete eradication of oil and gas since it’s is unachievable. It is about cooperation and taking responsibility.
“Africa is in an ideal place to lead the charge in creating a sustainable oil and gas industry, while also creating a leading renewable energy sector. The renewable energy potential is essentially unlimited, and the leapfrog technologies developed on the continent are lighting the way forward for renewables around the world,” says NJ Ayuk.
In his new book, “Billions at Play: The Future of African Energy and Doing Deals,” the Executive Chairman of the African Energy Chambercalls for a cultural shift where oil and gas companies transition to energy businesses that will invest in renewables in Africa. It’s a shift that every player in the billion-dollar energy industry needs to take a closer look at.
It’s not just in Africa that natural gas resources can make clean energy more accessible to people in rural communities or impoverished areas. And it’s not only on NJ Ayuk’s continent of birth that the decision-makers can negotiate petroleum E&P deals that benefit the everyday citizen as much as the government leaders. It’s time to put in place new models for managing petroleum revenue that spread the wealth equitably.
“To be successful, we must be honest and move rapidly to establish stable regulatory frameworks, innovative business environments capable of attracting investment, and strong political commitment to an energy transition,” says Ayuk.
At the end of the day, in a world where we’re no longer separate but connected by the common goal: stop global warming, our survival as a species depends on cooperation and mutual supports. N.J. Ayuk suggests an intra-African energy trading model where African countries should be able to depend on one another for the supply of energy.
As Guillaume Doane. Chief Executive Director, Africa Oil and Power explains in “Billions at Play,” “Africa has a large, vibrant and young population whose demand for cheap and reliable energy is growing faster than any other part of the world. African countries should be able to depend on one another for the supply of that energy. Fulfilling this promise requires courageous leaders who have the will to do what is necessary to ensure that no country on the continent is left behind in the quest for prosperity and energy security.”
A better management of the current natural resources can also help our efforts to stop global warming. For example, LNG is becoming a priority for Africa’s emerging natural gas sector. This odorless, colorless, non-toxic, non-corrosive natural gas (predominantly methane with some portion of ethane) has been cooled to liquid form for ease of storage or transport—often by barge—to locations where pipelines are not practical or economical to build. Once LNG arrives at its destination, it is re-gasified and distributed, typically via pipeline. According to NJ Ayuk, there is evidence throughout the continent that natural gas—more specifically, LNG—might be the answer, both to boost the African energy sector and to help individual countries.
“Billions at Play: The Future of African Energy and Doing Deals” is now available on Amazon.