By Abdul Rahman Suagibu –
NEW AFRICA BUSINESS NEWS, Freetown, Sierra Leone- United States, sudden uprising of the fine grained sedimentary rock gas, at the first half of this decade; the United States climaxed the global oil and gas rankings. Last year, it averaged 17.87 million b/d, which accounts for 18 % of the world’s production. This is up from the 15.6 million b/d in 2017.
In December of 2018, the US administration launched its Prosper Africa initiative with the vision to open markets for American businesses, grow Africa’s middle class, promote youth employment opportunities, improve the business climate and enable the United States to compete with China and other nations who have business interests in Africa.
The $ 50 million program will offer technical aid to companies expecting to NGOs in Africa that bears the characteristics of a city life the more than anywhere else on Earth. The region is projected to have 1.52 billion consumers by 2025 — nearly five times the size of the US population.
The US Department of Energy has prioritized continued actions to be looking towards Africa to develop opportunities in the exploration, production and monetization of LNG. In the words of Energy Secretary Rick Perry, “increased amounts of US LNG on the world market benefit the American economy, American workers, and consumers and help make the air cleaner around the globe.”
On this new strategy, the US Government; the Department of Energy inclusive is expressing to assist Africa advance economic prosperity and energy development across the continent without encumbering them with unsustainable debt.
When it comes to the oil and gas sector, American corporations are already very active on the continent. Earlier 2019,Texas Energy Company – Anadarko Petroleum gave the green light to start building a $ 20 billion gas liquefaction and export terminal in Mozambique — the biggest such project ever approved in Africa.
In furtherance to this, the Policy Assistant Secretary for Fossil Energy- Steven Winberg will join 25+ Pan-African ministers at the Africa Oil Week Summit in Cape Town in November, 2019. He will properly utilize the event to share US energy policy points with the continent and outline a vision for deeper US commitment to Africa in the oil, gas and power sectors. This vision expects to encircle added dual-way trade and investment between the US and Africa, with the US making potential capital available on joint-ventures and to part-finance LNG infrastructure for energy-lacking African countries.
“I am excited to represent the US at the upcoming Africa Oil Week Conference in Cape Town, South Africa,” Assistant Secretary Winberg said “We want our friends and partners in Africa to thrive, prosper, and control their own destinies. And we welcome the opportunity to share with them not only our abundant energy resources but also the knowledge and technologies that can help them develop their own resources.”
For New Africa Business News Abdul Rahman Suagibu Reports, Africa Correspondent