The region is rich in natural resources, and using them will help battle both energy shortages and hunger, Mohamed Hamel has told RT
Africa needs to take full advantage of the vast natural gas resources it has in order to eradicate energy poverty, according to Mohamed Hamel, secretary general of the Qatar-based Gas Exporting Countries Forum (GECF). Speaking to RT on the sidelines of Russian Energy Week on Friday, Hamel stressed that energy access challenges and energy poverty are among the most “traumatic issues” currently facing the region.
Citing GECF data, Hamel stated that nearly 900 million people in Africa, or roughly 60%, do not have access to clean fuels for cooking, while 600 million lack access to reliable electricity.
“This is jeopardizing their socio-economic development… We believe this is an extremely important issue… Energy is required for economic development, for social progress, as well as the protection of the environment,” Hamel stressed. He said that African states needed to have the right to use their resources for their domestic needs, and suggested that investment in the industry would be the key to achieving it.
“Investment in natural gas is one of the essential means for African countries to go up the energy ladder… African countries [should] use their natural resources for their socio-economic development and to lift their people out of poverty… To not invest in their natural gas resources is just misguided,” Hamel stated.
The expert noted that this is especially important because natural gas has no reliable alternatives globally, and will “be needed for decades to come.”
Africa is home to roughly 30% of the world’s mineral reserves, 12% of its oil, and 8% of its natural gas. The World Bank recently estimated that Africa also accounted for 40% of the world’s natural gas discoveries between 2010 and 2020. Yet most African countries still remain dependent on non-regional players in the market, with most mineral deposits, logistics facilities, energy, and port infrastructure controlled by Western and Asian companies. In many countries, producers are subject to regulations that encourage the export of energy resources even if the demands of the domestic market are not met.
However, the region has recently been taking steps towards resource sovereignty. For instance, the African Petroleum Producers Organization (APPO) earlier this year announced plans to launch a new Africa Energy Bank, which will be tasked with solving problems such as underfunding in the energy development sphere.
