During the period 2022-2023, West African countries aim to consolidate a post-COVID-19 economic recovery through higher energy prices and increased foreign direct investment flows . But in order to meet robust growth forecasts and the demands of a young and rapidly growing middle class, various countries in the region are investing in major infrastructure upgrades to strengthen connectivity and further improve the overall competitiveness of the country. economy of each country. Important projects are underway in West Africa in established oil and gas production markets such as Ghana and Nigeria, as well as emerging producers in the MSGBC basin.

Dangote Oil Refinery – Lagos, Nigeria

Nigeria has long been a heavyweight in sub-Saharan Africa’s oil and gas sector, but the country’s vast economic potential has not been fully exploited due to insufficient infrastructure upgrades in recent years. That is changing thanks to the Dangote oil refinery.

The historic $ 14 billion refinery project is on its way to becoming one of the largest oil refineries in the world. Located in the Lekki Free Zone, near Nigeria’s commercial center in Lagos, this is a 650,000 barrels per day (bpd) integrated refinery project – considered to date to be the largest oil refinery in the world. Africa and the largest single train facility in the world. The pipeline infrastructure includes 1,100 km that will be able to handle three billion standard cubic feet of gas per day.

In addition, the refinery has its own 400 MW power plant, capable of meeting the demand for electricity for a project of this magnitude. In addition to meeting 100% of Nigeria’s needs for all refined products, the refinery will have a surplus that will be exported to international markets.

Mambilla Power Plant – Kakara Village, Nigeria

Built by a Chinese consortium led by the Gzhouba Group, Nigeria’s largest power plant – the Mambilla Power Plant – is expected to be completed in 2030. Is expected to generate around 3,050 MW of electricity, the $ 6 billion project, located on the Dongo River will include four dams and two underground power plants with 12 turbogenerators. When completed, the project will help power 700 km of transmission lines across Nigeria, doubling the country’s total power generation capacity.

The lack of a reliable electricity grid has and continues to hamper the rapid development of Nigeria’s industrial sector. Once the Mambilla power station is connected to the national grid, it will increase capacity by 80%.

Marine Drive Project – Accra, Ghana

Over the past decade, Ghana has become an increasingly important player in West Africa’s oil and gas sector thanks to a number of large-scale offshore oil and gas discoveries such as the field Jubilee. But other sectors such as tourism and infrastructure are also supporting the growth of the Ghanaian economy. Notably, the Marine Drive Project, a $ 1.2 billion World Bank-funded infrastructure project, includes a 240-acre complex with facilities such as hotels, shopping malls, casinos, water parks and conference and exhibition centers.

The idea behind the project is to establish an iconic skyline for Accra and transform the capital city center into a world-class tourist enclave. The Marine Drive tourism project represents the largest tourism investment project initiated by the Government of Ghana since independence.

Lekki Deepsea Port – Lagos, Nigeria

Lekki seaport, which will be the deepest seaport in sub-Saharan Africa, includes a $ 1.2 billion infrastructure project currently underway on the Ibeju-Lekki axis in Lagos State, Nigeria. Representing one of the largest such projects undertaken to date in West Africa, the project includes a multi-purpose deep-water port.

Located at the very heart of the Lagos Free Trade Zone, the multipurpose port aims to increase Nigeria’s trade operations across West Africa and boost the country’s global trade potential. On its way to becoming one of the most modern ports in the region, the port is designed to handle four million tonnes of dry cargo per year; expected to generate estimated sales of $ 361 billion; and create up to 170,000 new jobs. It is expected to be completed sometime in 2022.

Great Tortue Ahmeyim – Offshore waters of Senegal and Mauritania

Another important large-scale project in West Africa is the Grand Tortue Ahmeyim (GTA) project, one of the largest liquefied natural gas (LNG) projects currently underway in the region. Thanks to large-scale offshore gas reserves located between the two countries, Mauritania and Senegal are positioned as two of the newest producers of natural gas in West Africa. The massive GTA LNG project is the deepest offshore LNG project in sub-Saharan Africa and is expected to release around 15 trillion cubic feet of gas. Jointly developed by BP, Kosmos Energy, the Société des Pétroles du Sénégal (Petrosen) and the Mauritanian Hydrocarbons Company (SMHPM), BP is the operator of the project.

Critical information regarding this project was provided by regional leaders and global majors during the first edition of the MSGBC Oil, Gas & Power conference in Dakar, Senegal, in 2021. The second edition of MSGBC, Oil, Gas & Power due to roll out during 2022, additional information, critical updates and new opportunities will be provided.

With the commissioning of the first oil and gas in the MSGBC region during the period 2022-2023, major players in energy, power generation, infrastructure, finance and oil services are coming together. will meet again in Dakar to explore the multiple investment opportunities in the MSGBC. and the wider West African region. With a number of other large-scale projects currently underway in the region, including Senegal’s ‘Port of the Future’, MSGBC Oil, Gas & Power 2022 will play a key role in securing additional investment, l ‘engagement with global stakeholders and the region’s transformation into a new era of improved energy and economic growth.

About The Author

Related Posts