As a dedicated meeting platform for the CEMAC sub-region, and with a primary objective to host interactive discussions between regional stakeholders, the conference will be critical for the growth and improvement of the regional energy sector.
The CEMAC region – comprising six states including Gabon, Cameroon, the Central African Republic, Chad, the Republic of the Congo, and Equatorial Guinea – represents one of the richest regions in Africa regarding natural resources. Home of some of Africa’s biggest project developments, the region is making an accelerated effort to develop its resources in a sustainable and mutually beneficial manner and the Forum will serve to enhance this trend.
The CEMAC region is leading African energy progress, particularly in the field of Liquefied Natural Gas (LNG). The region’s LNG potential is immense, with natural gas reserves estimated at 10 trillion cubic feet (tcf) in the Congo; 1.5 tcf in Equatorial Guinea; and 4.7 tcf in Cameroon. Much of the potential in regional states remains largely untapped, particularly in countries such as Cameroon. Already, we have seen countries pursuing accelerated LNG developments with Equatorial Guinea’s Gas Mega Hub project – designed to harness unexploited offshore domestic gas resources and those in the region -; Africa’s first Floating LNG project in Cameroon; and the Congo’s Gas Master Plan which aims to maximize resources through LNG developments. Deals like Yoyo Yolanda need to go ahead with Chevron, Etinde projects in Cameroon need to be fast-tracked with New Age and Lukoil consortium. A lot of Energy Companies have chosen CEMAC to invest in ExxonMobil, EGLNG, Marathon Oil, Chevron, Total, Eni, BW Offshore, Atlas Petroleum, Kosmos Energy, Noble Energy, Glencore, Perenco, Gunvor, and Trident Energy, among others.
Additionally, the CEMAC region remains committed to driving oil developments, recognizing the value of the resource in driving socio-economic growth and alleviating energy poverty. Across the region, three states are members of the Organization of Petroleum Exporting Countries, with the Congo serving as the seat of the African Petroleum Producers Organization. As the region pursues the expansion of the oil sector, capital flows will need to be increased and regional cooperation enhanced. Thus, the role of the CEMAC Business Energy Forum is brought to light.
