The Department of Trade and Industry (DTI) will, for the first time, showcase 15 to 20 local companies in the South African National Pavilion at the Africa Oil Week, which will be held in Cape Town from November 4 to 8.
With the event focused on Africa’s upstream oil and gas sector, the DTI will use Africa Oil Week as a platform to outline the department’s commitments to the energy sector and re-emphasise the need for sustainable and equitable growth for local businesses.
The businesses will also be exposed to more than 1 500 senior executives from the oil and gas value chain across the globe, including 15 Energy Ministers, key decision-makers from national and international oil companies, oilfield service providers and the investment community.
The inclusion of the South African Pavilion is aligned with the country’s strategic goal of implementing an outward investment-led trade approach aimed at increasing the country’s exporting capacity for diversified goods and services to international markets, while promoting industrial development, job creation, foreign direct investment and economic growth to position South Africa as a globally competitive investment destination.
In a statement on Monday, Trade and Industry Minister Dr Rob Davies said sub-Saharan Africa was rapidly transforming into a natural gas jurisdiction given major recent natural gas discoveries in the region and the significant potential discovered in South Africa.
“Following the profound experience of reindustrialisation of the US on the back of major gas finds, and the Qatari liquefied natural gas development trajectory, the potential for the realisation of significant long-term onshore value in South Africa and the region is substantial.
“Whether or not South Africa discovers its own commercially viable natural gas resources, it will play a major role in driving onshore demand and the development of the regional resources,” the DTI stated.
Davies added that, in light of the opportunities presented in the regional and domestic natural gas sector, the DTI continues to refine its long-term natural gas industrialisation policy for the country, which would maximise the multiplier effects (both upstream and downstream) of the natural gas resources domestically and in the South East African region.
Appropriate natural gas industrial policy will allow South Africa and the region to optimise the use of natural gas, maximise its multiplier effect potential and drive regional integration.
According to Davies, the exhibition comes as part of a wider focus on South Africa this year, with a full day programme dedicated to it within in the National Showcase Theatre on November 5.
The South Africa Showcase will feature panels with industry experts. Throughout the day, the showcase will feature strategic discussions around the future of the nation’s energy sector, exploring topics such as local content and procurement, fiscal policy and governance, as well as highlighting new prospects and key projects currently under way in South Africa.