China Commits $1.4billion into Energy Projects in Africa
The African Energy Chamber concluded a one-week working visit in Beijing, where it met with senior officials of the Chinese government, heads of state-owned energy companies, and executives and entrepreneurs from the private sector.
During meetings with top Chinese energy companies and financial institutions, the African Energy Chamber discussed the signing of win-win agreements and contracts that will make energy work for Africa while providing Chinese investors with attractive and rewarding opportunities in Africa.
As LNG demand is growing by the day in China, Africa stands to play a role. In 2018, China consumed 276.6 billion cubic meters (bcm) of natural gas, an increase of 16.6% over 2017. In meetings, the Chamber discussed with Chinese companies the need to invest in gas exploration and the need to also work on African initiatives like LNG2Africa which are a win-win for both Africa and China.
Throughout its meetings, the African Energy Chamber secured over $1.4bn in intentions to invest in Africa’s bankable projects in mining, oil & gas, power, and renewable.
In addition to upstream oil & gas and mining projects, key infrastructure financing opportunities in the refinery and storage facilities were also discussed.
In light of strong Chinese interest for Africa, and following demands from its Chinese partners, the Chamber will be hosting the first China-Africa Energy Investment Forum in 2020 in Beijing.
Source: Africa Energy Chamber