14
| Congo Democratic Republic is to unveil the country’s comprehensive Gas Master Plan (GMP) during the highly anticipated African Energy Week (AEW) 2021 taking place in Cape Town on the 9th12th of November. According the Ministry of Hydrocarbons, the plan, which includes a framework to encourage the development and investment in the Congo’s natural gas sector for the country’s overall benefit, will create enormous investment prospects for both regional and international stakeholders. The GMP, which was developed by the Ministry of Hydrocarbons and Wood Mackenzie Ltd under the direction of the Société Nationale des Pétroles du Congo (SNPC), is a medium to long-term natural gas utilization strategy that will facilitate the exploitation and development of the country’s natural gas resources, support economic diversification and growth, and co-ordinate with the country’s national oil company. With the role of natural gas and gas monetization comprising key themes at AEW 2021, the launch is expected to present high-level investors with a lucrative investment opportunity. According to the Organization of the Petroleum Exporting Countries (OPEC), Congo has approximately 284 billion cubic feet of proven gas reserves. With both domestic and regional demand gradually increasing, particularly regarding gas-to-power generation, the GMP presents a comprehensive strategy for monetizing reserves and spurring sectoral growth. The GMP also promotes resource optimization, economic growth and diversification, social benefits, government revenue, and investor attraction. The most perfect forum for presenting such a revolutionary proposal is AEW 2021, which brings together key stakeholders with optimal investment markets. “The Republic of the Congo’s GMP provides a long-term strategy for the monetization and development of the country’s natural gas reserves. While in Congo, I held several meetings with the Minister, his team, SNPC and other actors on the state of the sector and was encourage by commitment to be different. By launching the GMP at AEW 2021, an Africa-focused event that prioritizes the role of natural gas in Africa’s energy future, the Congo will be able to drive investment and establish the country as a competitive market,” said NJ Ayuk, Executive Chairman, the African Energy Chamber. The launch of the Republic of Congo’s GMP at AEW 2021’s aligns with the event’s agenda to open the dialogue on Africa’s gas miracle and its potential for both resource-rich markets and the wider region. By presenting stakeholders with valuable insight into current and emerging natural gas markets, and by explicating transformative gas plans such as that of the Congo’s, AEW 2021 aims to promote investment into Africa’s natural gas sector. |
