Mauritania’s Strategic Participation in African Energy Week 2024

Mauritania is set to participate in the African Energy Week 2024, where Minister Mohamed Ould Khaled will discuss the economic benefits of the Greater Tortue Ahmeyim LNG project. The first phase is nearing completion and will produce 2.3 million tonnes of LNG annually. The nation is actively seeking new energy partnerships and focusing on renewable energy, notably green hydrogen projects, positioning itself as a key investment destination in Africa.

Mauritania has officially joined the African Energy Week (AEW): Invest in African Energy conference, scheduled for November 4th to 8th in Cape Town. Minister of Petroleum and Energy, Mohamed Ould Khaled, will represent the nation and is expected to provide insights into the significant impact of the Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) project on the Mauritanian economy. The first phase of the GTA project is on course for production commencement by the end of 2024, promising to generate approximately 2.3 million tons of LNG annually with a second phase projected to boost this capacity beyond 5 million tons per annum. Currently, the first phase is 90% completed, with the Floating Production Storage and Offloading (FPSO) vessel anticipated to arrive by June 2024. This LNG initiative is merely a component of a broader strategy to enhance Mauritania’s energy sector, which has attracted international attention due to its geographical advantage near lucrative European markets and abundant offshore resources. The government is actively forging partnerships with international stakeholders to expedite the development of its rich oil, gas, and renewable energy assets. A recent agreement with TGS, now part of PGS, aims to secure subsurface data for oil and gas exploration in Mauritania’s onshore and offshore basins, while Tullow Oil is engaged in ongoing exploration endeavors under a multi-year contract. Additionally, Mauritania is in search of a new partner for the BirAllah gas field, which is believed to hold substantial reserves of 60 trillion cubic feet of natural gas. This opportunity is critical for the sustainable expansion of the nation’s gas sector. In April 2024, the government also entered into an exploration-production contract with Taqa Arabia Co. Gas Consortium to develop the Banda gas field, which is anticipated to commence production in 2027, further solidifying Mauritania’s status as a prominent gas-producing nation. The AEW conference serves as an optimal platform for Minister Khaled to engage with potential global investors and finalize strategic cooperation agreements aimed at advancing the hydrocarbons sector. In conjunction with its natural gas initiatives, Mauritania is actively pursuing renewable energy projects. The nation has set an ambitious target to produce 12.5 million tons of green hydrogen by 2035 and has recently passed a Green Hydrogen Bill to facilitate the development of necessary infrastructure. Major projects in this sector include the 30 GW Aman project led by CWP and the 10 GW Nour project spearheaded by Chariot. The Minister’s participation in the AEW conference is expected to bolster investments in the burgeoning green hydrogen sector while also providing essential project updates.

Mauritania has emerged as a focal point in the African energy landscape, particularly concerning its vast offshore gas resources and strategic position, which facilitates access to high-demand markets. The Greater Tortue Ahmeyim (GTA) LNG project serves as the cornerstone of this development, with substantial implications for the national economy and energy security. The project not only highlights Mauritania’s potential as a natural gas hub but also its increasing efforts to diversify energy sources through renewable initiatives, particularly in hydrogen production. The government’s proactive approach in engaging with international partners underscores its commitment to maximizing the development of both fossil and renewable energy sectors, making it an appealing destination for investment.

In conclusion, Mauritania’s presence at the African Energy Week 2024 signifies a critical step towards advancing its energy sector. With key projects like the Greater Tortue Ahmeyim LNG initiative and the ongoing exploration of new energy partnerships, the country is poised to transform its energy landscape significantly. Moreover, the push towards green hydrogen development indicates a comprehensive strategy to enhance energy security and stimulate economic growth. Minister Khaled’s participation in the conference is pivotal in attracting foreign investment and establishing Mauritania as a leader in both natural gas and renewable energy sectors.

Original Source: africanminingmarket.com