Angola joins gas exporting body

NJ Ayuk, executive chairman African Energy Chamber

“Angola has vast untapped gas reserves that have not yet been monetised.” said NJ Ayuk, www.energychamber.org African Energy Chamber executive chairman. “Joining the GECF is a step in the right direction and in line with President João Lourenço's blueprint for transformation, growth and boosting economic diversification by the monetisation gas.”

Angola’s focus on gas is being backed by new legislation promoting the monetisation of the country’s gas reserves. In May 2018, Angola passed Presidential Decree No. 7/18 (PD 7/18), indicating the president's strong commitment to reform the country’s hydrocarbons sector and provide a boost to the gas industry. The decree is the first law aimed at specifically regulating the prospection, research, evaluation, development, production and sale of natural gas in Angola.

“The chamber welcomes the reforms in Angola and its commitment towards diversification and a market driven local content. This requires that government provides the necessary infrastructure and incentives that will enhance the productivity of labor and capital in the economy.” Ayuk continued. “The private sector has a role to play and there must be a change in its mindset, from commerce to industry”