ACS Launches Second Quarter 2022 Outlook, State of Energy in Africa
After the first quarter outlook, the second quarter report provides an overview of the challenges, opportunities and general state of the energy sector in Africa.
The African Energy Chamber (AEC) has released its outlook for the second quarter of 2022, the State of Energy in Africa, providing a detailed overview of current and emerging trends, challenges and opportunities, and how the African energy sector rebounds after the onset of COVID-19. 19 pandemic. Following the first quarter edition, the second quarter outlook provides oil and gas market outlook and insight into exploration, M&A activity in Africa and the upcoming oil and gas economies in Africa.
The ACS report represents the most important document providing critical information on the state of play of the energy sector in Africa. For oil market participants, the report provides an overview of oil prices and demand, detailing how the cost of Brent crude is currently estimated at $111 due to resilient demand and the risk of a full Russian embargo. on oil; how supply is expected to exceed demand in the second quarter of 2022 and how the negative economic impact resulting from Russia’s war in Ukraine, the ongoing energy crisis and soaring inflation are expected to drive down the revision of the oil demand of 800,000 barrels per day for the year 2022; while identifying the best African producers in 2022 and future production trends.
In addition, with regard to gas markets, the report posits that uncertainty over Russian supplies and sanctions on energy exports are expected to drive up European liquefied natural gas (LNG) spot prices by more than 30 USD/MMBtu, as Europe is expected to import large volumes of LNG; the exit of operators from Russia should lead to a revised development schedule for several projects in Russia, resulting in a drop in cumulative production of 1,435 billion cubic meters over the years 2022 to 2030; sanctions and lower production are also expected to lead to a global LNG demand-supply gap of around 120 million tonnes per year by 2030; and that Algeria, Egypt and Nigeria will maintain their positions as leading gas producers, contributing more than 80% of production. Further details are provided on LNG exports, trade relationships in 2022 and beyond, and new and upcoming discoveries.
Expanding on the first quarter report, the second quarter outlook provides a more detailed look at the African energy industry, examining exploration trends and challenges, expectations in 2022 and beyond as well as mergers and acquisitions – all valuable and integral information for players across the energy spectrum. value chain. As the continent’s energy sector undergoes significant changes due to fluctuations in global markets, post-COVID-19 capital expenditure trends and the ongoing Russian-Ukrainian conflict, the report is not only helpful but essential for private and public sector operations, regional and international investors as well as African policy and decision makers.
“The ACS is proud to announce the publication of its second report this year, the State of Energy in Africa for the second quarter of 2022. For investors, the report is essential to obtain the information necessary to sign agreements and form partnerships, enabling expansion across the African continent.While for African players, the report highlights new opportunities, identifies current challenges and lays the foundation for the growth of energy markets in Africa. By downloading the report, stakeholders will be able to advance their footprint across Africa while bringing African energy to the world,” says NJ Ayuk, Executive Chairman of the AEC.
Representing the voice of the African energy sector, the AEC is committed to stimulating investment and development in the various energy segments of the continent. In 2022, with changes in global markets and new discoveries, projects and developments in Africa, the role that the continent’s resources play in global energy security has been highlighted. With the report, stakeholders will not only gain an understanding of the sector itself, but also gain the information needed to make informed decisions about African energy. Download the report now and get the information you need to eradicate energy poverty in Africa and around the world.
Visit https://energychamber.org/report/aec-q2-2022-oil-and-gas-outlook/ to download the report today!