Africa, Venezuela Plan Formal Global South Energy Pact

The African Energy Chamber (AEC), is pursuing a structured programme of cooperation with Venezuela during a high-level working visit aimed at aligning both regions on hydrocarbon development, trade expansion and capacity building.

The visit opened with meetings with the Bolivarian Republic of Venezuela’s vice minister for Africa, Yuri Pimentel, where discussions focused on formalising stronger South–South collaboration across upstream investment, gas monetisation and downstream industrial development.

As major hydrocarbon regions navigating similar developmental pressures, both sides emphasized a shared priority: using oil and gas resources to confront energy poverty and accelerate industrialisation.

Rather than treating hydrocarbons as transitional resources, discussions framed them as essential economic drivers. Both parties emphasised that oil, along with the development of natural gas and petrochemicals, represents the next phase of value creation – critical for supporting electrification, powering domestic industries and enabling broader economic development.

The Chamber encouraged greater participation of African energy companies in Venezuela’s upstream and downstream sectors, while supporting Venezuelan engagement across African markets. The objective is not transactional engagement, but longer-term institutional alignment that strengthens intra-Global South investment flows.

Another key outcome of the visit was the advancement of structured human capital partnerships. During meetings with Universidad Venezolana de los Hidrocarburos, discussions moved beyond general cooperation and toward concrete training pathways for African professionals.

The parties committed to organizing training programs for Africans and executives in oil and gas, supported by ongoing discussions with stakeholders in Namibia, Equatorial Guinea, Nigeria, Zimbabwe and Senegal. Programs under discussion include technical training in both onshore and offshore hydrocarbon operations, alongside executive-level capacity building aimed at strengthening operational and regulatory expertise across African energy markets.

Venezuela’s decades of experience in complex onshore heavy-oil production and offshore development present relevant case studies for African producers expanding their own resource bases.

The Chamber committed to facilitating frameworks that support long-term training exchanges and institutional collaboration. By prioritising technical depth and executive-level capacity building, the partnership aims to ensure that resource development is matched by domestic expertise – reinforcing local content objectives across African energy markets.

“This working visit demonstrates that Africa and Venezuela are aligned not only in resources, but in vision,” said NJ Ayuk, executive chairman of the AEC. “Energy poverty remains one of the greatest barriers to economic growth across the Global South. Our focus is practical: strengthen cooperation, expand gas and petrochemical value chains and invest in the skills required to develop our resources responsibly and competitively.”

As Africa scales upstream production and accelerates gas commercialisation, partnerships grounded in technical exchange and industrial expansion are becoming increasingly strategic. The working visit signals a shift toward structured South–South energy alignment – one that links resource development, industrial policy and human capital under a unified development framework.