Oil & Gas
BURKINA FASA’S Minister of Energy and Mines Yacouba Zabré Gouba will speak at the African Energy Week, AEW: Invest in African Energy 2024 conference – Africa’s premier event for the energy sector, scheduled for November 4-8 in Cape Town. Rich in a variety of natural and mineral resources, Burkina Faso is inviting foreign investors to join the promising market, with attractive regulation poised to unlock high returns for financiers.
Burkina Faso aims to advance the utilization of LPG for clean cooking across the country, increasing the reliance on LPG beyond current rates of 35% in urban areas. Signaling a promising investment avenue for global players, this highlights opportunities across both the upstream and downstream natural gas landscape. During the AEW: Invest in African Energy conference this November, Minister Gouba is expected to promote areas for foreign direct investment while engaging with companies from across the entire energy value chain.
AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy.
Burkina Faso has embarked on a collaborative journey with global LPG investors and market stakeholders to propel infrastructure development and maximize its gas industry potential. Partnerships with energy firm Sodigaz and international investors such as the African Infrastructure Investment Managers and the International Finance Corporation are a strong testament to the country’s commitment to opening up lucrative opportunities for global LPG investors. During AEW: Invest in African Energy, further insight into project opportunities will be shared as the country invites investment into the untapped oil and gas market.
Burkina Faso’s energy opportunities transcend LPG, with the country offering newfound opportunities in nuclear and renewable energy. Coupled with rising demand for energy and a governmental target to elevate the current 21% energy access rate to 95% by 2030, profitable opportunities are available for global investment firms within Burkina Faso’s energy industry.
Recognizing the immense potential of nuclear and renewable energy and the pivotal role of collaboration with global entities, Burkina Faso is intensifying partnerships with international investors and industry stakeholders. The Ministry of Energy and Mines signed an agreement with Russian state nuclear company Rosatom in October 2023 for the development of a nuclear power plant to meet growing energy needs.
On the renewable energy front, Burkina Faso is advancing solar energy initiatives, with multiple projects planned and underway. These include the Patte d’Oie Solar PV project; the Scatec Zagtouli Solar PV plant; and Soltech Zano Solar PV projects. In the power sector, the country has increased installed capacity from 324.6 MW in 2017 to 410 MW.
“Burkina Faso’s focus on diversification will unlock new opportunities for energy access and industrialization. By focusing on LPG market expansion while spearheading renewable and nuclear energy initiatives, the country is demonstrating the role and value of an integrated energy mix in Africa,” stated NJ Ayuk, the Executive Chairman of the African Energy Chamber.
Minister Gouba’s energy agenda also prioritizes attracting foreign investments across Burkina Faso’s critical minerals value chain – encompassing copper, phosphate, and vanadium production – to enhance the country’s contribution to the global energy transition. AEW: Invest in African Energy 2024 offers a strategic opportunity for Minister Gouba to forge transformative industry alliances with global capital and technology providers while showcasing projects and untapped opportunities.
During the event this November, Minister Gouba will participate in high-level panel discussions and exclusive networking sessions to promote ongoing energy infrastructure projects and opportunities.
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-March 14, 2024 @ 14:20 GMT|
Distributed by APO Group on behalf of African Energy Chamber.
Tags: NJ Ayuk Yacouba Zabré Gouba
