Friday 14 Mar
During the second day of CERAWeek 2025 in Houston, Texas, USA, the 'Energy and Economy in Africa' forum featured a keynote address by Minister of Petroleum and Mineral Resources, Engineer Karim Badawy. Chaired by US Energy Secretary Chris Wright, the forum convened a distinguished group of attendees, including African energy ministers from Equatorial Guinea, Nigeria, Namibia, Ivory Coast, Angola, Morocco, and Libya, alongside high-ranking officials from the World Bank, the European Union, and leading energy corporations such as Eni, Anglo American, Equinor, Carlyle, Trafigura, and Vitol.
The forum addressed key areas including African government strategies to facilitate investment, the development of supporting industries to boost natural resource output, solutions to the energy poverty crisis, and the role of regional integration in driving competitiveness and reshaping global supply chains. The forum reviewed policies and partnerships that support entrepreneurship in Africa and enhance the continent's ability to support technology transfer and absorb venture capital directed towards energy projects.
It highlighted the vast investment opportunities in the
energy sector, from hydrocarbons and minerals to traditional and renewable
energy generation, as well as transportation and distribution. Emerging
technologies such as Carbon Capture, Utilization, and Storage (CCUS), hydrogen,
nuclear energy, and the use of artificial intelligence in various stages and
processes of the energy industry were also discussed.
Attendees discussed African governments' local reforms,
including institutional structures, regulatory frameworks, and financial
policies. They also reviewed key challenges such as global market volatility
and sensitive capital flows, and explored strategies for African companies and
governments to overcome these obstacles and attract energy sector investments.
US Energy Secretary Chris Wright outlined the US
administration's support for African countries to fully utilize their energy
resources and ensure a just energy transition without jeopardizing energy
security. He also highlighted the US commitment to providing technical
assistance, transferring energy expertise and technology, and strengthening
energy cooperation with African nations, particularly Egypt.
Minister Karim Badawy detailed Egypt's comprehensive energy sector reform strategy, designed to attract investments, expedite drilling and exploration, and increase production. He discussed key initiatives such as revising concession agreements, settling outstanding dues, implementing incentive packages, and fostering close collaboration with partners to resolve challenges and create a favorable investment environment. He also emphasized the Egypt Upstream Gateway (EUG) as a platform for investment opportunities and Egypt's strategic role in enhancing regional energy integration.
Badawy also discussed Egypt's petroleum sector's energy transition efforts, including clean energy projects, emissions reduction, and green hydrogen. He outlined the sector's carbon reduction strategy and partnerships with the US, EU, and World Bank on decarbonization and CCUS.
He underscored the critical role of African integration and collaboration in securing energy security and a balanced energy mix, while establishing sustainable energy transition pathways that benefit from their resources. He further highlighted the importance of fostering partnerships with the private sector and international financial institutions to secure essential investments.
