Africa determined to exploit oil, gas

African leaders are determined to develop the continent’s oil and gas reserves despite a global move away from fossil fuels as climate change concerns grow.

African leaders are determined to develop the continent’s oil and gas reserves despite a global move away from fossil fuels as climate change concerns grow.

Gabriel Obiang Lima, Equatorial Guinea’s minister of mines and hydrocarbons, told the Africa Oil & Power conference that climate change was a worry, “but to tell Africans, do not develop your resources, I think that is very unfair”.

The conference started in Cape Town on Wednesday.

CEO of Africa Oil & Power, Guillaume Doane, said despite a growing global narrative about climate change, Africa’s economic narrative cannot be ignored. While developed nations “might be worried about the end of the world, Africa is worried about the end of the month”, he said.

The comments come amid a number of significant oil and gas discoveries, but as global pressure grows to move away from fossil fuels.

Lima said it is consumers, not producers, who have to change their behaviour to fight climate change. “Very nice people are giving big speeches in New York, in Europe,” he said, referring to recent climate change meetings.

“But what do they do after the speech? They go back to their house. They turn the light on, they turn on the television, they leave the heater on, they drive their car. But when they are finished they blame the producers,” he said, noting it is the consumers who drive the production of fossil fuels.

“We are providing for a demand because they are consuming more and more every year,” Lima said.

He suggested that African nations should commit to a transition period in which they will decarbonise their economies, but that it should be longer than the transition period afforded to developed nations so the continent can develop. “Oil and gas can change a country,” he said.

Paul Eardley-Taylor, head of Southern African oil and gas at Standard Bank, said projects from a major natural gas discovery in Mozambique’s Rovuma basin will create enormous economic opportunities for the impoverished nation.

Meanwhile, Kevin Vorhaben, the Africa unit business manager for Noble Energy, said exploration for fossil fuels on the continent will continue, “but it is going to require responsible development”.

Geraud Moussarie, Senegal country manager for BP, said Africa is seemingly more affected by climate change than other regions, as seen in terms of coastal erosion, flooding and drought. “Africa should not have to choose between growing and the green agenda. We need to do both,” he said.