OGRepublic August Edition

AFRICAN ENERGY STORIES
Zimbabwe: President Mnangagwa, African Energy
Chamber Held Talks Over Oil, Gas Opportunities
According to the International Trade
Administration, Zimbabwe’s lithium deposits are
the largest in Africa. With the rapid increase in
global demand given the mineral’s importance to
the energy-battery industry, the country has the
potential to become a major exporter, while
contributing to the global energy transition. To
position itself as a clean energy player, Zimbabwe
requires significant investment in mining, with
additional opportunities available in mining
supplies, transportation infrastructure and
materials. In a bid to attract further investment,
the government has proposed regulatory
changes to the Mines and Minerals Act, making it
more progressive and investor-friendly.
President Mnangagwu, and NJ Ayuk, Executive Director of African Energy Chamber
President Mnangagwa has committed to
developing a robust energy sector in Zimbabwe to
meet the rising power demand brought about by
an increasingly vibrant, productive and resilient
economy and people. With significant potential
across multiple segments of its energy economy,
Zimbabwe hopes to attract both regional and
international investment, utilizing its energy
sector as a catalyst for wider socio-economic
growth.
Th e P re s i d e nt o f Z i m b a b we,
Emmerson Dambudzo Mnangagwa,
held a high level meeting with the
African Energy Chamber's (AEC) leader, NJ
Ayuk, over the first ever Africa's energy
focused event, African Energy Week (AEW)
2021.
In a statement made know to Oil and Gas
Republic, the discussions also focused on the
opportunities in oil, natural gas and other
potential mineral resources for energy
transition.
Zimbabwe is making headway to pioneering
a diversified energy mix and strengthening
the country's energy industry for growth
opportunities.
African Energy Chamber's Executive
Director, NJ Ayuk said: "President ED
Mnangagwa is committed to developing a
roburst energy sector to meet the growing
needs of a potentially vibrant, productive,
and resilience economy and people.
"Zimbabwe has done an amazing job with
COVID-19 vaccination and must be
complimented and encouraged.
"We discussed opportunities in oil and
natural gas, critical minerals for energy
transition, solar and also energy security and
infrastructure.
"Investment is needed into these critical sectors,
and we will make Zimbabwe a priority during
African Energy Week in Cape Town.”
Furthermore, Zimbabwe holds significant
exploration opportunities for stakeholders.
Despite the lack of proven oil and natural gas
reserves – and the continued dependence on
crude imports to supply the nation – Zimbabwe is
redirecting its focus on exploration, specifically of
natural gas.
Having experienced critical electricity shortages
for decades, Zimbabwe is seeking alternative
power generation solutions, in which natural gas
may be a viable alternative. The Southern African
nation is pursuing partnerships and investment
deals with international stakeholders, focusing on
accelerating exploration and driving energy
sector diversification and growth.
The report shows that Zimbabwe’s coal reserves
have the potential to address energy supply
challenges and meet demand across the region.
Currently, the country’s largest thermal power
station, Hwange Thermal Power Plant, has a
capacity of 750MW, supplying critical electricity
to the population. However, with ageing power
plants requiring upgrades and the country opting
to reduce its reliance on coal, alternative power
generation solutions are being considered and
significant investment opportunities have
emerged.
Ayuk’s visit initiated a dialogue on one of the
country’s most promising sectors: renewable
energy. Zimbabwe is home to impressive
hydropower potential – estimated at 18,500 GWh
per year, of which 17,500 GWh is technically
feasible – and aims to drive further investment
and associated development to establish
domestic energy security and independence.
To date, only 19% of the country’s hydropower
potential has been exploited, with most of
Zimbabwe’s electricity supply produced at the
750MW Kariba Dam Hydroelectric Power Station.
AEW 2021 aims to further this agenda, placing
Zimbabwe as a top priority and showcasing all
that the country has to offer.
African Energy Week is the African Energy
Chamber's first ever interactive exhibition and
networking event that seeks to unite African
energy stakeholders, drive industry growth and
development in the entire value chain of Africa's
energy sector.
The event will hold on 9th - 12 November 2021 at
The V&A Waterfront in Capetown, South Africa.
15
OIL AND GAS REPUBLIC I SPECIAL EDITION