Oil and Gas


As a country without any mineral wealth, Jamaica has always had to box clever when it came to its oil and gas requirements. The fact that it has been able to do so has in large part been due to the tireless work conducted by Petrojam Limited, Jamaica’s only oil refinery. The pandemic, the war in Ukraine and the consequent spike in fuel prices was just the latest time that Petrojam has had to go the extra mile to ensure Jamaica’s energy security.


Given the enormous mineral resources in the MENA region with countries such as Saudi Arabia and the UAE, it may surprise some to learn that the first major hydrocarbon producer in the region was Egypt. The country’s oil production goes as far back as the second half of the 19th century, at a time when it was both energy self-sufficient and an exporter of hydrocarbons. Even today, oil and gas production is the single largest economic activity in the country.


Liquified natural gas (LNG) has been universally recognized as a stepping stone in the energy transition. Thanks to its 25 percent lower carbon emissions than traditional fuels, LNG finds are now usually treated with more fanfare than the discovery of oil wells. It is wholly understandable in this context then, the enthusiasm that surrounds the Greater Tortue Ahmeyim (GTA) LNG project off the coast of Senegal and Mauritania.


The 21st century has been a time of growing prosperity for Ghana and its citizens. Although the country’s GDP remained largely stagnant for the 50 years to the beginning of the century - growing just 13% between 1955 and 2000 - its growth since then has been phenomenal. In 2021, the country’s GDP was measured at over $72 billion - nearly 15 times higher than in 2000, when the same figure stood at a little less than $5 billion.


Botswana has justifiably won praise over the past two decades as home to one of the world’s longest-running economic booms. Although the Covid-19 pandemic curtailed that growth for a short period, the government’s 2021 accounts are set to show a strong rebound, with GDP growth of approximately 7% being forecast.

 

Botswana Oil, the state energy company, has played a pivotal role in this growth story.


 

The importance of natural gas to Germany’s energy transition cannot be overstated. In 2010, the country passed Energiewende, its long-term energy strategy to install as much wind and solar energy as possible, as quickly as possible. To deliver on this ambitious goal, Germany needs natural gas - now recognized as the backup fuel for intermittent wind and solar power.

Congress and Exhibition “LNG Latin America & the Caribbean”

Submitted by dev_ln on Tue, 01/05/2021 - 07:45

The investment congress and exhibition “LNG Latin America & the Caribbean” is the only business platform for developing effective strategies, sharing experiences, presenting new investment projects and innovations, consolidating efforts of governments and companies to implement investment projects on construction, expansion and modernisation of LNG regasification and LNG production plants from all over Latin America.


 


The European Union has long seen energy security as being a core central tenet of the grander European project. For this to become a reality, countries within the bloc need to engage in cross-border cooperation and inter-connections to ensure that energy can flow across borders without restriction. For these reasons, EUGAL - the European gas pipeline - is fundamental to the future prosperity of the EU.


In 2019, the national economy of Guyana grew by 4.7%, the largest increase since 2014. But while most countries would be delighted with a hike in GDP of this magnitude, for Guyana it really is only the beginning; oil production in the country is set to generate GDP growth of double figures for the foreseeable future.


Guyana, the small country on the north coast of South America, is a country like no other on the continent. Unlike every other country on the continent, its people speak English. Cricket, rather than football, is the sport of choice. Home to less than one million people, its population is one of the smallest on the continent, coming in just ahead of Suriname and French Guinea.

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