OPEC, ARDA optimistic of Africa’s role in global energy landscape

The Organisation of Petroleum Exporting Countries (OPEC), African Refiners and Distributors Association (ARDA) and other stakeholders have expressed optimism that African countries would play leading role in the development of the energy sector in the future.

Speakers at the event which was held ahead of the UN Climate Change Conference (COP26) next month, said there is no “one size fits all” solution and reducing emissions must have multiple paths.

Barkindo warned that future energy and climate roadmaps must reflect the core principles of the United Nations Framework Convention on Climate Change, hinged on equity, historical responsibility and the principle of common but differentiated responsibilities and respective capabilities, a situation he described as critical to Africa.

For the Downstream, he stated that Africa’s local refining capacity is expected to increase, with a corresponding reduction in imports, and the continent’s long-term demand growth will lead to about 5 million barrels per day of throughput in 2045.

While stressing that Africa’s eventual energy transition roadmap must treat the transition plan for cleaner fuels, power and renewable energy differently, he added that refineries must be upgraded to produce cleaner fuels, while initiatives to replace biomass with LPG as a cleaner cooking fuel must be prioritized.

According to him, there was need for unity of purpose on development of an inclusive, common-sense agenda for energy transition on the continent, as well as necessary policies and creation of an enabling environment to encourage investments in energy transition and incentivize production of cheaper, cleaner fuels across Africa.

(Vanguard News Nigeria)

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