x

Africa: Democratic Republic of Congo Expresses Strong Political Will for Gas Monetization Projects

By Musa Isa Ahmed

The administration of President Félix Antoine Tshisekedi has made energy security and investment its top priority, seeking to get massive hydropower projects off the ground

Through African oil & gas producers Republic of Congo and Angola, the Democratic Republic of Congo (DRC) has so far remained relatively absent of Africa’s league of hydrocarbons producers. In 2019, only French independent Perenco produced from the DRC, at an average rate of 25,000 boepd from 11 onshore fields.

In this context, the administration of President Félix Antoine Tshisekedi has made energy security and investment its top priority, seeking to get massive hydropower projects off the ground but also to diversify the country’s energy basket and create jobs in the process.

yet another decision supporting the development of the DRC’s hydrocarbons industry, President Félix Antoine Tshisekedi requested its Minister of Hydrocarbons, Hydraulic Resources and Power and its Minister of Finance to fast-track legal processes and permits pertaining to the valorization of the natural gas produced onshore by Perenco. The decision was taken at the latest Council of Ministers last week in Kinshasa.

The move is expected to result in the monetization of natural gas through power generation, especially to address the DRC’s energy deficit and provide stable supply of power to its booming mining industry.

“We are extremely optimistic about the future of oil & gas in the DRC given current political support for the industry. While market-driven policies are needed to ensure investments in gas monetization, an enabling environment is key to unleashing the massive potential of the DRC and the energy industry is open to supporting the DRC,” stated NJ Ayuk, Executive Chairman at the African Energy Chamber.

“The DRC also offers 100GW of hydropower potential, and its upcoming hydroelectric stations are expected to require billions of dollars. It is a chance for investor and local players to participate and support the ambitious growth plans of President Felix Tshisekedi fighting energy poverty and boosting energy for industrial development that will create jobs and transform the economy with a post covid-19 recovery strategy,” concluded Ayuk.

The African Energy Chamber is encouraged by the governments decision as we believe locally available natural gas offers the perfect opportunity to build power capacity in the short-term and ensure a stable and cheaper power to DRC’s industries and mining companies.

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

eid Mubarak: North Central Apc Greets Tinubu, Mutfwang, Muslims

By Israel Adamu, Jos Chairman of the North-Central APC Forum,...

NFF Donates N20M to Support Goalkeeper Stanley Nwabali for Parents’ Burial

The Nigeria Football Federation (NFF) has extended a gesture...

Abiodun Rewards Falcons, Lionesses with N30m, Eyes More Sports Hosting in Ogun

Ogun State Governor Dapo Abiodun has reaffirmed his administration’s...

Tinubu, Shettima, Northern Governors Mourn the Passing of Prof. Jibril Aminu at 85

President Bola Ahmed Tinubu, Vice President Kashim Shettima, and...

Tinubu Hails Dangote Refinery as “Phenomenon of Our Time,” Commissions Lekki Port Access Road

President Bola Ahmed Tinubu has praised the Dangote Petroleum...

MBF opposes interception of 164,000 live shotgun cartridges in Anambra, says possession not illegal

By Achadu Gabriel, Kaduna Nigeria’s indigenous Middle Belt Forum (MBF),...

N4.6bn: Kaduna ALGON threatens Wakili with court action over false accusations

By Achadu Gabriel, Kaduna The Kaduna State chapter of the...

CDS at North Central Peace Summit urges border fencing to curb insecurity

By Israel Adamu, Jos Chief of Defence Staff (CDS) General...
spot_img

Related Articles

Popular Categories

spot_imgspot_img