Recent reports from the Intergovernmental Panel on Climate Change and the International Energy Agency have emphasized the need for both swift actions to avoid the worst impacts of climate change and the need for carbon-free technologies like carbon capture to put us on a pathway to a net-zero emissi Contact online >>
Recent reports from the Intergovernmental Panel on Climate Change and the International Energy Agency have emphasized the need for both swift actions to avoid the worst impacts of climate change and the need for carbon-free technologies like carbon capture to put us on a pathway to a net-zero emissions future.
Angola has good preconditions and hydrocarbon reserves from well-characterized sedimentary basins that present ideal opportunities for carbon dioxide storage. They are composed of depleted mature oil and gas fields with saline trapping rocks that have proved their efficiency, which pose a good indication of storage capacity. Another option involves injecting carbon dioxide through Enhanced Oil Recovery operations used to improve the footprint of oil produced and bolster carbon capture deployment.
Angola, like many African countries, needs access to abundant, always available, and cost-effective power to support economic growth. Firm power and strong, centrally dispatched grids, coupled with well-functioning utilities, will remain essential to Angola and its neighbours as they pursue their economic growth agendas. As part of a path towards sustainable transition, Angola needs to reduce emissions from its existing fossil fuel facilities.
On a global scale, Angola is a relatively low emitter of cumulative greenhouse gases today, but the time is ripe to build foundations for the development of a range of low carbon options. This will help position these technologies for wider adoption as they become economically feasible for African markets, while ensuring that the extraction reliant economy of Angola is ready to operate in a net-zero future.
Although referring to very distinct market realities, this would substantially modify the existing economic paradigm to incentivize carbon capture and storage. Hence, new regulations and tax credits are needed as it would lure Angolan companies and investors to place more efforts on firms working on lower-cost capture technologies.
Developing countries should look for real numbers and data to assess the overall potential for carbon dioxide capture where it is technical and economically feasible.
It is necessary to identify where carbon capture storage locations are, the scale and the required design for regional carbon dioxide transport infrastructure to deliver carbon dioxide from identified sources to identified storage locations.
International experience has demonstrated that using shared regional carbon dioxide infrastructure enables wide capture and minimizes the scale of investment required to build transport networks and reduces land use while maximizing local/international decarbonization targets. It is critical to find low-cost eligible facilities which can be feasibly used under consistent policy context with environmentally conservative assumptions for protecting natural resources and indigenous or public lands.
Finally, more research on carbon capture and storage is needed in developing economies, such as Angola, for effective contribution to the energy transition with new technologies striving to reduce carbon dioxide emissions and fulfilment of the Paris Agreement. This would reduce poverty and create huge potential job opportunities for youth while strengthening the technical capacity of the country’s human capital.
The European Commission recently launched the Industrial Carbon Management Strategy, reflecting Europe''s growing focus on carbon capture, removal, use, and storage. This follows a call from European NGOs for an EU carbon capture and storage strategy in 2022, and the report "A Vision for Carbon Capture, Utilisation, and Storage in…
Brussels – Today, the Council of the European Union has adopted its general approach on the Net Zero Industry Act (NZIA), further cementing the importance of carbon capture and storage in achieving Europe''s climate targets. “A CO2 storage obligation on the oil and gas sector can significantly support the decarbonisation…
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Angola''s Minister of Mineral Resources, Oil and Gas, H.E. Diamantino de Azevedo, plans to strengthen the country''s oil and gas refining capacity to meet domestic energy demand while reducing energy imports and maximizing the monetization of energy resources for regional and global markets.
Speaking at a meeting in Huambo province in the central region, the minister stated that building new refineries and modernizing existing ones will enable Angola to sustain its energy supply while reducing costs incurred from energy imports. To date, a lack of infrastructure has resulted in Angola spending over $1.7 billion on oil imports per annum to meet domestic energy needs despite the country boasting 8.2 billion barrels of proven oil reserves and an estimated 13.5 trillion cubic feet of natural gas reserves.
Angola currently has just one operational refinery, the Luanda Refinery, operated by energy company, Fina Petroleos de Angola, and national oil company, Sonangol, processing up to 65,000 barrels of crude oil per day (bpd). A $235 million project, however, is underway to expand the Luanda refinery to 72,000 bpd – a development which the Ministry of Mineral Resources, Oil and Gas says will help Angola save $200 million in energy export costs.
MIREMPET is also developing two new facilities which include a $920 million plant in Cabinda to increase Angola''s refining capacity by 60,000 bpd as well as a 100,000-bpd refinery in Soyo city – in which the ministry awarded US-based Quanten Consortium Angola the tender to construct.
In addition, a 200,000-bpd refinery is being developed in Lobito province with Sonangol having selected Japanese conglomerate, JGC Holdings, to provide required services. With the Russia-Ukraine tensions causing a spike in oil prices, boosting Angola''s refining capacity will also reduce Angola''s vulnerability to volatile global energy prices.
Moreover, with new projects such as Eni''s Ndungu early production project and TotalEnergies'' CLOV Floating Production, Storage and Offloading unit, expanding Angola''s production and refining capacity will enable Angola to maximize the monetization of its energy resources. As a result, Angola will expand the trading of ready-to-use fuels with Europe as the bloc seeks alternative energy suppliers to reduce reliance on Russian resources.
Representing the country''s official energy event, AOG 2022, in partnership with the Ministry of Petroleum and Mineral Resources of Angola, will take place in Luanda on 29-30 of November and December 1st, 2022.
The MSGBC Oil, Gas & Power conference remains the only event entirely dedicated to exploring energy opportunities in Mauritania, Senegal, The Gambia, Guinea-Bissau and Guinea-Conakry.
Delegates are able to access high-level insights from African policymakers and government officials, one-to-one investor matchmaking services and exclusive oil and gas market forecasts.
Amid first LNG exports and revitalized oil production, the Republic of Congo will host the inaugural forum on March 25-26, 2025, hosted by the Ministry of Hydrocarbons.
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