Uche Cecil Izuora
The African Energy Chamber (AEC) has called for a fundamental reorientation of global energy policy – one that places African fossil fuels at the center of energy security, industrial growth and poverty alleviation.
The Chamber is sustaining the campaign momentum as the G20 summit convenes in Johannesburg.
It regretted that for too long, policies rooted in ideology have sidelined the continent’s vast energy potential and that the time has come to “drill, baby, drill” responsibly, strategically and to meet the energy needs of hundreds of millions of Africans who still live in darkness.
The AEC’s 2026 Outlook projects oil and gas production to reach 11.4 million barrels per day (bpd) by 2026, growing toward 13.6 million bpd by 2030 as exploration gains momentum in frontier basins.
Africa is expected to account for roughly $41 billion in global upstream capital expenditure by 2026, driven by major projects in Nigeria, Mozambique and Angola.
Licensing rounds underway or planned into 2026 – across mature markets such as Angola, Nigeria, the Republic of Congo, Equatorial Guinea, Libya and Egypt, as well as emerging frontiers including Namibia, Sierra Leone, Tanzania and South Africa – continue to attract explorers seeking new opportunities.
With proven gas reserves exceeding 620 trillion cubic feet, Africa is a critical supplier for both global gas markets and domestic energy development. Mozambique hosts multiple major LNG projects in its offshore Rovuma Basin, Senegal is advancing Phase 2 of the Greater Tortue Ahmeyim project alongside Yaakar-Teranga, and Equatorial Guinea continues to develop its regional Gas Mega Hub, connecting stranded fields to onshore gas-processing infrastructure.
Libya’s re-emergence as a stable and attractive upstream environment has attracted the return of major international players.
Meanwhile, Uganda and Tanzania are progressing with the East African Crude Oil Pipeline, reflecting a regional commitment to integrated infrastructure and long-term production.
In South Africa, coal remains central to energy security, even as the country pursues gas exploration and investment to complement industrial growth.
Speaking at the G20 Africa Energy Investment Forum in Johannesburg on Friday, South Africa’s Minister of Mineral and Petroleum Resources Gwede Mantashe emphasized the country’s approach: “Drill, baby, drill. We have no legal restriction on oil and gas exploration and exploitation in South Africa. If we make a breakthrough on oil and gas, our GDP will grow exponentially. Our people will never breathe fresh air in darkness.” His remarks underscore that unlocking South Africa’s fossil-fuel potential is critical not just for energy access, but for industrial development, job creation and national economic growth.
Yet despite this massive potential, restrictive global financing frameworks threaten to choke off investment where it is needed most.
The World Bank’s fossil-fuel lending ban and risk-averse policies by many Western banks risk sidelining projects just as the continent requires them to support industrial clusters, domestic electrification and gas infrastructure. Restoring capital flows is a once‑in-a-generation opportunity: it will allow Africa to harness its natural resources to lift millions out of energy poverty, drive industrialization and secure its energy future, all while strengthening global energy security.
Exploration must accelerate, as it remains the cornerstone of Africa’s energy future. New upstream investment is essential for powering industrial growth, and natural gas must serve as the backbone of this transformation.
The G20 should champion financing for exploration rather than penalize it, because neglecting gas condemns millions to continued energy poverty. Around 600 million Africans currently lack electricity, while 900 million have no access to clean cooking solutions.
Gas is not merely a transitional fuel – it is a lifeline for industrialization, domestic energy access and economic development. Strategic investment in gas can unlock power for cities, factories and households alike, bridging the continent to a cleaner, more productive future.
The Chamber applauds the United States for its landmark $4.5 billion financing commitment to Mozambique’s LNG project, demonstrating that G20 nations can invest in African fossil fuels responsibly and profitably.
This investment proves that upstream and gas projects can deliver long-term economic growth, energy access and industrialization across Africa. Yet far more financing at this scale is urgently needed to unlock the continent’s full energy potential.
The Chamber urged the International Energy Agency (IEA) to reset its projections.
Current forecasts undervalue Africa’s hydrocarbon resources and ignore the role gas can play in driving energy access, job creation and industrial capacity. The persistent stigmatization of fossil fuels must end. Transition rhetoric alone is insufficient: meaningful action requires aligned funding, supportive policy and genuine respect for Africa’s energy priorities.
The Chamber also applauds U.S. Secretary General Chris Wright’s support for LPG and clean-cooking solutions as a practical, scalable method to improve energy access.
The G20 has rightly recognized LPG as a key priority area for Africa, highlighting its potential to provide immediate, reliable energy for millions of households. But clean cooking is only one piece of the puzzle. Much more needs to be done to unlock Africa’s full energy potential. The continent deserves a comprehensive energy mix: LPG, gas-to-power, modular GTL, and large-scale natural gas development, all working together to drive industrialization, power cities and support sustainable economic growth.
The Chamber said, “African governments are ready. Countries from Angola to Egypt, Nigeria to Senegal, and Libya to Mozambique are implementing reforms to attract capital through licensing rounds, stable fiscal terms and pragmatic regulation. We stand prepared to deliver enabling environments: local content development, cross-border infrastructure, and strategic partnerships to support long-term growth. But we need capital; we need technology; and we need a global financial system that supports development, not punishes it.
“We reject calls to phase out fossil fuels under the guise of climate virtue, which only threatens Africa’s prosperity and keeps millions locked in energy poverty. Instead, we demand a just energy future powered by African resources, built by African workers and delivering tangible benefits to communities. We call on the G20 to make fossil-fuel development a central pillar of its Africa policy, unlocking financing, dismantling ideological barriers, promoting exploration and investing in the gas infrastructure that will energize homes, industries and economies across the continent.”