Berliner Boersenzeitung - Western thirst for African gas raises alarm at COP27

EUR -
AED 4.102936
AFN 77.459209
ALL 99.457975
AMD 432.778937
ANG 2.014982
AOA 1037.198836
ARS 1075.462107
AUD 1.637702
AWG 2.010723
AZN 1.896412
BAM 1.957567
BBD 2.257397
BDT 133.610576
BGN 1.967095
BHD 0.420956
BIF 3240.766592
BMD 1.117068
BND 1.443677
BOB 7.725834
BRL 6.060991
BSD 1.118089
BTN 93.516982
BWP 14.711012
BYN 3.658936
BYR 21894.534621
BZD 2.253583
CAD 1.51451
CDF 3207.102402
CHF 0.945106
CLF 0.037685
CLP 1039.834343
CNY 7.868957
CNH 7.865561
COP 4652.867874
CRC 579.176012
CUC 1.117068
CUP 29.602304
CVE 110.361631
CZK 25.09773
DJF 199.096109
DKK 7.459401
DOP 67.11516
DZD 147.697258
EGP 54.203943
ERN 16.756021
ETB 128.672268
FJD 2.455148
FKP 0.850713
GBP 0.838751
GEL 3.049838
GGP 0.850713
GHS 17.609655
GIP 0.850713
GMD 76.520298
GNF 9660.63171
GTQ 8.642567
GYD 233.866865
HKD 8.701854
HNL 27.734781
HRK 7.594958
HTG 147.340329
HUF 394.325395
IDR 16862.310423
ILS 4.193842
IMP 0.850713
INR 93.28429
IQD 1464.608618
IRR 47020.184922
ISK 152.323096
JEP 0.850713
JMD 175.656948
JOD 0.791665
JPY 158.837019
KES 144.22468
KGS 94.14088
KHR 4537.973401
KMF 493.018125
KPW 1005.36065
KRW 1485.761989
KWD 0.340516
KYD 0.931732
KZT 535.488455
LAK 24688.058616
LBP 100120.360598
LKR 340.334086
LRD 223.60779
LSL 19.480105
LTL 3.298412
LVL 0.675704
LYD 5.325711
MAD 10.842591
MDL 19.510432
MGA 5037.455838
MKD 61.670102
MMK 3628.193592
MNT 3795.79733
MOP 8.97552
MRU 44.25794
MUR 51.251405
MVR 17.158436
MWK 1938.706188
MXN 21.561716
MYR 4.671621
MZN 71.324681
NAD 19.480105
NGN 1831.914005
NIO 41.146764
NOK 11.711141
NPR 149.618968
NZD 1.787354
OMR 0.430023
PAB 1.118089
PEN 4.197394
PGK 4.438966
PHP 61.937515
PKR 310.954552
PLN 4.274947
PYG 8727.720029
QAR 4.076069
RON 4.974525
RSD 117.085522
RUB 103.440971
RWF 1505.731882
SAR 4.191907
SBD 9.279414
SCR 14.899487
SDG 671.918347
SEK 11.341279
SGD 1.439918
SHP 0.850713
SLE 25.521993
SLL 23424.35363
SOS 638.970916
SRD 33.347817
STD 23121.054172
SVC 9.782741
SYP 2806.667024
SZL 19.465218
THB 36.952903
TJS 11.884819
TMT 3.909738
TND 3.386365
TOP 2.61629
TRY 38.074039
TTD 7.59979
TWD 35.674679
TZS 3042.560594
UAH 46.331582
UGX 4151.672326
USD 1.117068
UYU 45.930216
UZS 14243.726675
VEF 4046637.851088
VES 41.058342
VND 27412.851
VUV 132.620568
WST 3.124956
XAF 656.537735
XAG 0.035844
XAU 0.00043
XCD 3.018932
XDR 0.828633
XOF 656.537735
XPF 119.331742
YER 279.630082
ZAR 19.542269
ZMK 10054.950521
ZMW 29.096607
ZWL 359.69547
  • RBGPF

    60.5000

    60.5

    +100%

  • RELX

    0.7600

    48.13

    +1.58%

  • CMSC

    0.0650

    25.12

    +0.26%

  • GSK

    -0.8100

    41.62

    -1.95%

  • SCS

    -0.8000

    13.31

    -6.01%

  • RIO

    2.2700

    65.18

    +3.48%

  • AZN

    0.3200

    78.9

    +0.41%

  • BTI

    -0.3100

    37.57

    -0.83%

  • RYCEF

    -0.0200

    6.93

    -0.29%

  • NGG

    -1.2200

    68.83

    -1.77%

  • CMSD

    0.0300

    25.01

    +0.12%

  • VOD

    -0.1700

    10.06

    -1.69%

  • BCC

    7.6300

    144.69

    +5.27%

  • BCE

    -0.4200

    35.19

    -1.19%

  • BP

    0.3300

    32.76

    +1.01%

  • JRI

    -0.0400

    13.4

    -0.3%

Western thirst for African gas raises alarm at COP27
Western thirst for African gas raises alarm at COP27 / Photo: FETHI BELAID - AFP

Western thirst for African gas raises alarm at COP27

Wealthy Western nations facing an energy crunch are eyeing natural gas in Africa at the expense of supporting green transition in poorer countries, climate activists at COP27 charge.

Text size:

European countries have been scrambling for alternative sources of gas after the continent's former top supplier, Russia, slashed exports in apparent retaliation for Western sanctions over Moscow's invasion of Ukraine in February.

Gas-rich Norway has since overtaken Russia as a leading supplier, but Europe sees great potential in African fossil fuel reserves, including promising oil and gas discoveries in Senegal and Democratic Republic of Congo.

Europe wants "to turn Africa into its gas station," Mohamed Adow, director of the Power Shift Africa think tank, said at the UN climate summit in Egypt.

"We don't have to follow the footsteps of the rich world that actually caused climate change in the first place."

Exporting natural gas may bring short-term profits but exacerbate the climate crisis and leave African nations worse off in the long run, activists, researchers and advocacy groups said.

Research group Climate Action Tracker called the global dash for gas a "serious threat" to the Paris Agreement goals -- of keeping global warming well below two degrees Celsius, and preferably at 1.5 degrees compared to pre-industrial levels.

- 'Stranded assets' -

Some African leaders argued the potential benefits for people on the world's poorest continent outweighed the harm from the production and export of fossil fuels.

"We are in favour of a just and fair green transition, instead of decisions that harm our development process," Senegalese President Macky Sall told some 100 world leaders last week at COP27.

Germany -- the European country most dependent on Russian supplies before the war -- has been keen to tap Senegal's gas deposits.

Omar Farouk Ibrahim, secretary general of the African Petroleum Producers' Organization, argued the slight increase in the continent's marginal contribution to greenhouse gas emissions "would make a fundamental difference in whether people live or die".

"We have 600 million people in Africa who don't have access to electricity at all. We have over 900 million people in Africa who do not have access to modern form of energy for cooking or domestic heating," he said.

"No progress can be made in any society without energy."

But advocacy groups were not convinced Africa's poor would reap any benefits.

"History shows us that... extraction in African countries has not resulted in development," said Thuli Makama, African programme director at Oil Change International.

Makama, a lawyer from Eswatini, said the Ukraine war would only trigger "short-term" demand from Western nations, leaving African countries with "stranded assets" -- infrastructure that becomes obsolete as the world turns to renewables.

Governments and companies would have invested in infrastructure only to be "left with stranded assets, clean-up expenses and all the devastation that comes with the industry for local people", Makama warned.

- 'Incredible' potential -

A report released Monday by the Carbon Tracker Initiative think tank said Western investment in fossil fuels will eventually evaporate, encouraging African countries instead to seize on the potential offered by solar power.

"The way to help us actually address our energy poverty challenge is for us to tap the incredible renewable energy potential that exists on the continent of Africa," Adow said.

African nations could refuse any further extraction of fossil fuels and make the continent a "green leader", he added.

But investment in renewable energy across the continent last year fell to its lowest level in 11 years, the research group BloombergNEF said on Wednesday.

Out of the $434 billion invested worldwide in renewables in 2021, a meagre 0.6 percent went to projects in Africa, the report said.

The Carbon Tracker Initiative report said the solar industry across Africa provided 14 gigawatts of power in 2021.

It noted however that with production costs falling, solar power in Africa "has the potential to grow... to over 400 gigawatts by 2050" -- half of the continent's energy needs.

(H.Schneide--BBZ)