PricewaterhouseCoopers (PwC) highlights Africa’s positive strides in the clean energy transition, citing various countries harnessing the continent’s vast renewable energy potential. The firm underscores the need to balance these efforts with developing fossil fuel resources to expedite the transition and maximize benefits.
Andries Rossouw, PwC Africa energy leader, emphasizes the pivotal role of lower carbon technologies in Africa’s energy future, stating that the continent’s commitment to sustainability requires strategies aligning oil, gas, and renewables to reduce emissions. Pedro Omontuemhen, PwC Africa oil & gas leader, advocates for a collaborative approach between governments and the private sector to optimize investments in new technologies, ensuring both decarbonization and addressing energy poverty.
The report underscores Nigeria’s prominence as West Africa’s foremost fossil fuel exporter. Omontuemhen envisions expanding liquefied natural gas (LNG) exports, with projects like Senegal and Mauritania’s GTA LNG contributing to export growth. The goal is to increase LNG exports from 4% to 6%, driving industrialization and enhancing energy security in the region.
David Tarimo, PwC Energy leader in eastern Africa, asserts that gas will remain a crucial player in energy and industrial systems across many countries. Despite the emerging focus on the hydrogen economy, Tarimo suggests that gas will retain its role in power generation for baseload and flexible needs, complementing new power technologies.
The report recognizes Africa’s challenge of high energy poverty levels and the delicate balance required between energy security, climate change, and sustainable development objectives. It emphasizes the multi-pronged approach to decarbonization, positioning renewables and natural gas power at its core.
The PwC report emphasizes the need for Africa to continue navigating its energy landscape by embracing lower carbon technologies, optimizing investments, and striking a balance between renewables and fossil fuels. The spotlight on Nigeria’s leading role in West Africa’s fossil fuel exports underscores the region’s potential for growth, with LNG projects expected to drive further export expansion and contribute to industrial development.
