Angola's ANPG Promotes Natural Gas and Biofuels as it Tackles the Energy Transition

  
Energy Capital & Power

Energy Capital & Power


High-level executives at Angola’s National Oil, Gas and Biofuels Agency (ANPG), participating at the African Energy Week in Cape Town on Wednesday, offered stakeholders a rare glimpse into the myriad of opportunities available for investment in the Angolan energy landscape, particularly within the context of the energy transition, an overarching theme that both worries and excites energy players worldwide.

“I believe gas is the ideal fuel for a transition to a cleaner energy industry,” stated Americo Fernandes, Expert Seismic Engineer at the agency, during his presentation.

While the agency has no regulatory responsibilities over the development of renewable energy sources, its actions as the overseer of natural gas and biofuels development has a fundamental impact on Angola’s climate goals.

The executive expressed the agency’s desire to not only make better use of the country’s natural gas, a large part of which continues to be flared to this day, but to also promote economic diversification, employment and local content development by promoting associated industries using natural gas as feedstock.

“Our intention is to develop an associated industry through fertilisers and methanol plants as well as promote gas-based power generation opportunities, which also carries a great local content side,” Fernandes added.

Angola’s legal framework has historically framed the ownership of natural gas resources found in oil production concessions as belonging to the State, so this resource has so far remained underused.

However, a policy-change coming into effect just in 2021 now attributes ownership of natural gas resources to the license holders. This move should quickly contribute to the growth of natural gas production in the country and further expand opportunities for associated industries.

Currently, Angola exports 95% of its gas in the form of LNG, but the agency hopes its promotion strategy will allow it to “retain 25% of this resource in-country via associated value-added industries by 2030,” Fernandes added.

Finally, growing the biofuels sector was also on the agenda as the agency sees it as yet another step in the support of a transition to cleaner sources of energy and to reduce the country’s dependency on oil-based fuels.

“We are also betting on the development of Biofuels. Angola’s soy can be a great source of feedstock for biofuels, which could come to support the use of hydrocarbon-based fuels or for use in power generation solutions,” Vita Mateso, Installation Expert Engineer at ANPG added.

Both the development of biofuels and the growth of a natural gas-associated industry would largely contribute to respond to Angola’s local content ambitions as these sectors are considerably more labour-intensive and capital-light than purely oil and gas upstream activities.

Distributed by APO Group on behalf of Energy Capital&Power.

Send us your press releases to pressrelease.zawya@refinitiv.com


© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases