In a powerful address during the Invest in African Energy Forum in Paris, Energean CEO Mathios Rigas urged African governments to prioritize the development of untapped gas resources, echoing the company’s success in the Mediterranean.
Rigas emphasized the need for accelerated decision-making and a comprehensive approach to energy development in Africa. He stated, “We want to bring the same model that worked in the Mediterranean to Africa. To solve energy poverty, affordability, and accessibility for the whole continent – we need everything.”
Energean, with a track record of over $3 billion in investments in the Mediterranean, is now looking to replicate its integrated development approach across Africa. However, Rigas highlighted the crucial role of bold leadership from governments in driving successful energy projects.
The panel discussion, sponsored by Energean, also featured insights from Tim Gould, Chief Energy Economist at the International Energy Agency (IEA), who emphasized the importance of a balanced and pragmatic approach to Africa’s energy development.
Gould stressed the need for an integrated energy system that considers affordability, sustainability, and sovereignty. He stated, “For the IEA, energy security is our core mandate. We don’t see security and sustainability at opposite ends of the spectrum.”
Namibia’s Petroleum Commissioner, Maggy Shino, shared a national perspective on leveraging the country’s oil sector for economic transformation. She highlighted the importance of strategic use of resource revenues to build long-term industrial capacity and skills.
Cheick-Omar Diallo, representing TotalEnergies, defended the East African Crude Oil Pipeline project as a sovereign decision by Uganda and Tanzania. He emphasized the company’s commitment to environmental standards, community benefits, and minimizing displacement.
The panel discussion underscored the urgency, realism, and ambition required for sustainable energy development in Africa. While global players called for speed and pragmatism, African leaders stressed the importance of aligning energy projects with national priorities for long-term value creation.
Distributed by APO Group on behalf of Energy Capital & Power.
