Taking sharp aim at the Europe Union, Senegal's President Macky Sall, who chairs the African Union, declared that cutting funds for new gas exploration would be "a fatal blow" for emerging African countries.Ībout two months later on Feb. Senegal, one of Africa's new aspiring natural gas players with 1.13 trillion cubic meters of reserves, is in the process of developing its offshore gas resources to satisfy its own domestic energy needs and to export LNG internationally. According to Bloomberg New Energy Finance, funding for gas-to-power projects in emerging markets had already dropped by 10% in 2020 compared to the previous year. Africa views natural gas as vital for desperately needed electrification for development and already bristled at the European Green Deal, the EU's €1 trillion ($1.08 trillion) initiative to de-carbonize Europe and promote energy transition abroad, given its objective of reducing natural gas investment worldwide. Sub-Saharan Africa's power consumption per capita (excluding South Africa) is a mere 180 kWh, compared to Europe's 6,500 kWh.
12, 2021 and closed the “Paris rulebook,” resolving the outstanding elements of the 2015 Paris Agreement, and it did so in a manner that discouraged natural gas infrastructure investments worldwide.Īfrica in particular took issue with the European-led discouragement of natural gas investment. The two-week COP26 Glasgow conference concluded on Nov.
the most significant Climate Change Conference since the 2015 COP21 in Paris that produced the “Paris Agreement,” in which the parties agreed to implement measures to reduce global warming to 1.5 degrees. Climate Change Conference (COP26) held in Glasgow, U.K.
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The differing views between Europe and many emerging market nations over how to combat climate change sharpened into a bitter divide at the 2021 U.N. With Europe's support for Egypt's program to become a global leader in the production of green hydrogen and its derivatives like green ammonia, Cairo will continue to exert a central influence on the direction and pace of energy transition in the Middle East and North Africa (MENA) region and beyond.īridging the Political Divide Between Natural Gas and Renewables Brussels’ engagement of Cairo reflects Egypt's leadership in establishing a new paradigm for the role of natural gas development in the effort to combat climate change. The agreement was jointly announced in Cairo by Egypt’s Foreign Minister Sameh Shoukry and European Commission Vice-President Frans Timmermans, the EU's leading official for the European Green Deal, the European Climate Law, and international negotiations on climate change. In the run-up to COP27, Egypt scored an important diplomatic achievement in promoting the simultaneous development of natural gas and renewable energy resources when it signed an agreement with the European Union (EU) on Apto reinforce their cooperation regarding both liquified natural gas (LNG) and renewable energy-produced green hydrogen supplies between Europe and Africa. In this manner, Egypt will play an important leadership role in brokering a reconciliation between Africa and Europe, which until very recently has discouraged investment in natural gas development. Climate Change Conference (COP27) this November in Sharm el-Sheikh to give greater voice to those nations, particularly key nations in Africa, that seek a larger role for natural gas in the energy transition process. Finding a synergy between natural gas development and green energy transition, Egypt will likely use its position as host of the 2022 U.N. Disproving the dogma that natural gas and renewables are in a zero-sum competition, Egypt is advancing as a leader in renewable energy development while also increasing its offshore natural gas production capacity. Egypt's energy policy is helping to change the terms of the global debate on climate change by demonstrating that there is a basic compatibility between developing domestic natural gas resources and developing renewable energy sources.
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