Industry organisation the Petroleum Agency SA (PASA) has welcomed the release of the International Energy Agency's (IEA’s) ‘Africa Energy Outlook 2022’ report, which outlines possible pathways for Africa’s energy system that are consistent with both the pressing need for a transition to a cleaner energy future, as well as achieving the development goals of the continent.
The ‘Africa Energy Outlook 2022’ report states that while renewables should be the driving force for Africa’s electricity sector this decade, the continent’s industrialisation requires an expanding use of natural gas.
The report finds that, if Africa were to develop and use all the natural gas discoveries it has made to date, this would bring Africa’s share of global emissions to 3.5%, up from the current 3%, yet Africa is home to about 20% of the global population.
PASA has acknowledged the report, especially in terms of how it locates the role of gas in the continent’s industrialisation efforts.
For South Africa, this is critical, the organisation emphasises.
Engineering News on June 20 reported that, according to the ‘Africa Energy Outlook 2022’ report, the continent would have to more than double its energy investment this decade to meet its energy and climate change goals by 2030.
Africa would also have to reconsider how its energy projects are financed.