Unlocking Africa’s Energy Potential with Technology and Partnerships

The energy sector in Africa holds significant potential, and energy giant Shell maintains that partnerships, technological innovation, and sustainable financing are essential for unlocking this potential. At the 7th Nigerian International Energy Summit in Abuja, Osagie Okunbor, Managing Director of The Shell Petroleum Development Company of Nigeria Ltd (SPDC) and Country Chair of Shell Companies in Nigeria, emphasized the importance of taking a comprehensive approach to advancing energy security, transition, and economic prosperity in Africa.

Okunbor underscored the need for African countries to focus on developing conventional energy sources, which are abundant and will continue to be relied upon in the foreseeable future. He emphasized the importance of international partnerships and collaborations for accessing best practices, advanced technologies, and innovations to optimize operations and reduce emissions. One such example is the Oil and Gas Methane Partnership (OGMP), which Shell has utilized to monitor and mitigate methane emissions from their operations.

Furthermore, Okunbor highlighted the significance of sustainable financing mechanisms, such as impact investing and public-private partnerships, to provide the capital needed for developing clean energy projects, improving infrastructure, and supporting local capabilities.

The Managing Director stressed that energy security, transition, and finance are crucial for economic growth and development, particularly for emerging economies like those in Africa. He emphasized Shell’s long-standing presence in various African countries, including Nigeria, Egypt, Namibia, Ghana, South Africa, and Tunisia. In Nigeria, for instance, Shell is closely collaborating with the government, partners, and other stakeholders to harness gas as a transition fuel, promote Nigerian content development, and deploy renewables as an off-grid energy source for millions of households.

In conclusion, Okunbor expressed optimism about the progress in collaboration and the potential for more opportunities in the future. With a focus on partnerships, technological innovation, and sustainable financing, Shell is dedicated to unlocking Africa’s energy potential and driving energy security, transition, and economic prosperity in the region.