The UK upstream Morocco-focused Sound Energy inked a gas supply deal with Morocco’s ONEE, state-owned power company.
Under this preliminary agreement, Sound Energy will commercialize the gas found in the Tendrara permit where it holds 47.5%, alongside Schlumberger, which has a 27.5% direct interest and the state’s hydrocarbons office ONHYM with 25%.
Injazat, a market leader in digital transformation and Lamprell, a leading provider of fabrication, engineering and contracting services to the offshore and onshore oil & gas and energy sector, signed a memorandum of understanding and have started collaborating to create and market innovative digital solutions focused on the oil and gas and renewables markets.
Published ahead of the Solar Asset Management (SAM) MENA conference this November, SAM’s report on the matter says that the Middle East Solar Industry Association (MESIA) currently values the region’s solar market at around $20bn.
To meet mounting demand from global markets for clean energy, SAM said the region’s power generation capacity must increase by 66% by 2030, adding 267GW to its current capacity. The dropping costs of solar generation, along with the aforementioned demand, are facilitating the region’s push towards a renewable future.
As the world works to take the action needed to meet the UN’s 17 Sustainable Development Goals (SDGs) by 2030, off-grid solar energy access for developing countries is an essential part of the solution. And not just for achieving SDG 7 (Clean and Affordable Energy For All), but 10 of the SDGs in total, including Decent Work and Economic Growth (SDG 8), No Poverty (SDG 1) and Gender Equality (SDG 5), just to name a few – making off-grid solar a very powerful tool for change.
The International Renewable Energy Agency said up to $148 billion (Dh543bn) was needed each year until 2050 to meet the goals of the Paris agreement and limit global temperature increases to 1.5°C above pre-industrial levels.
According to a statement, the three-day conference, which began Wednesday under the theme #MakeEnergyWork, is expected to discuss the substantial role the energy sector plays and how it empowers other sectors in building thriving and competitive economies.
The plan – which builds on a relatively well-received draft announced last year – makes some significant advances in changing South Africa’s energy mix. For example, it significantly ups the contribution of wind as well as solar power to South Africa’s overall energy allocation. The production of power from wind is expected to grow by 900% by 2030, and power from solar photovoltaic by 560%.
Africa is hungry for energy. Only 24% of sub-Saharan Africans have access to electricity and the energy generation capacity of Africa (excluding South Africa) is only 28 Gigawatts, equal to that of Argentina alone. The demand is only set to rise with increasing population, urbanization and economic productivity. Because of little installed capacity, there is low energy consumption and access.
Morocco plans to create 150,000 jobs in the next decade out of energy efficiency projects, the finance ministry said in an official document.
The strategy provides for including energy efficiency measures in construction, industry, transport, public lighting, agriculture and fisheries, the document showed.
OPEC's World Oil Outlook 2019 forecasts energy demand to grow by 72mboed in the period until 2040, when demand will hit 357mboed.
Meanwhile, non-OECD countries will see demand grow by 75mboed for the same period, while demand in the OECD will drop by 3mboed. China and India will make up approximately 50% of energy demand growth for non-OECD countries.
There is a tendency in the West to ignore Russia’s long history in the Middle East. Many of Russia’s observers took the relatively brief withdrawal from the region in the 1990s to be the norm.
However, Russia has sought a warm-water port and access to the Mediterranean for three centuries and its policy of protecting Orthodox Christians in the Ottoman Empire dates from then and Russia has been a factor in Middle East politics since.
INFOMINEO RESOURCES
A highlight of some of our resources to expand your knowledge on Africa and the Middle East.
In southern Morocco, on the edge of the Saharan desert, sits one of the world’s most remarkable engineering projects: the Noor Power Plant. This is the second largest solar plant in the world with a total capacity of 510MW and an area that dwarfs the nearby city of Ouarzazate.
Get an overview of Saudi Arabia's main country indicators. The following infographic lists Access key facts and figures on Saudi Arabia as well as it's main industries, resources, imports, exports and key trading partners.
INFOMINEO
Infomineo is a data and research service provider, that specializes in Africa and the Middle East, dedicated to supporting global companies in getting access to information that powers their investment decisions in the region. Through a direct presence in key markets such as the UAE, South Africa, Kenya, Egypt and Morocco, Infomineo provides a quick access to market data on key questions such as: market and product prioritization, partner identification, commercial due diligence, route to market, supply chain mapping and competitive analysis among others. Along with conductingCustom Research for clients, Infomineo also delivers an Expert Network service and a Business Translation service.
INFOMINEO, Value added business research, Casablanca, Morocco