Qatar and Jeniks Energy Group are collaborating to realise a significant gas aggregation investment in the region, a strategic move the firms said will tap into the vast, yet largely untapped gas reserves across Africa.
The partnership, known as the Qatar-Jeniks Africa Gas Project, has extended its reach to 11 African countries, including Ghana, Kenya, Tanzania, Angola, Sierra Leone, Morocco, Egypt, and Benin Republic.
According to the firms, the initial phase also encompasses Mozambique, Rwanda, and Zambia. Notably, Nigeria is a pivotal part of the deal, with advanced negotiations underway to solidify the country’s comprehensive plan for gas aggregation.
According to analysts, over the past four years, Jeniks Energy Group, led by chairperson Princess Osifo, has made substantial progress alongside Qatari partners in coordinating the gas investment across the 11 selected African countries, including Ghana, Kenya, Egypt, and Angola.
An expert in the oil and gas industry, Steve Ati said Princess Osifo, along with a team of experts and consultants in the gas and energy sector, has been diligently working to actualize this multibillion-dollar gas investment deal. He said Qatar has committed an initial investment of $9 billion to kickstart the projects, garnering interest from various African governments.
Also, Princess Osifo has confirmed Qatar’s interest in various gas projects in the Niger Delta, aligning with initiatives from the Nigeria National Petroleum Company Limited and its joint venture partners. These projects, according to her, may involve the acquisition of LNG vessels for gas cargo transport.
Top energy officials view the involvement of Jeniks Energy Group as a major endorsement of the corporate leadership’s potential and capacity in the African gas and energy market, as envisioned by Qatari investors seeking private sector-driven initiatives.
Another energy expert, Abdulraheem Salisu said that as a global investor in the LNG market, Qatar’s government adheres to highly regulated global best practices and standards.
He said, ‘‘The African-based investment decision is projected for completion in the first quarter of 2022, with a major milestone expected before the end of the current month, marked by ongoing meetings between Jeniks and investors.
‘‘The project comes at a crucial time when global energy investment in renewable and clean energy technology is in high demand. Jeniks’ decision to refocus its attention and strategic investments in gas aligns with this global trend.
This breakthrough, a private initiative between Qatari investors and Jeniks, adds to the $5 billion Middle Eastern investment agreed upon for Nigeria in April of the previous year. The investment aims to re-energise the energy sector in Nigeria and other African countries, aligning with Nigeria’s domestic gas utilisation agenda.’’
