Africa Needs $200bn Annual Investment to Meet Energy Goals, Says NLNG Boss
Global Energy Transition Requires Collaborative Approach, Mshelbila Tells Berlin Summit
Philip Mshelbila, managing director of Nigeria LNG Ltd, has called for over $200 billion in annual investments to address Africa’s energy challenges and climate objectives.
Speaking at the 2024 World LNG Summit in Berlin, Mshelbila emphasized the critical need for strategic energy investments in a continent with a young population and limited economic resources.
“The Global Energy Investment landscape requires a critical balancing act: the need for immediate energy access through fossil fuels, alongside the urgent transition to sustainable energy sources.
“At NLNG, we understand this duality. As one of Africa’s leading energy companies, we are dedicated to sustainably producing Liquefied Natural Gas (LNG), a cleaner energy alternative.
“We see natural gas as not only a vital bridge in the energy transition journey but also a sustainable component of the energy mix, enhancing renewable sources like solar and wind.
“However, investment alone is not sufficient. To truly harness Africa’s energy potential, we must foster a collaborative environment,” Mr Mshelbila said.
Mshelbila stressed the importance of transparency, infrastructure development, and human capital enhancement to drive innovation in energy projects.
“The time for action is now. Let us invest in Africa’s energies with a shared vision for a prosperous, sustainable future.
“We at NLNG are conscious of our sustainability hallmark. We recently refreshed our brand identity with a new logo and tagline that speaks to inspiring a sustainable future.
“Our new logo is not just a visual change; it represents our commitment to innovation, excellence and sustainability.
“It symbolises our dedication to evolving with the times while staying true to our core values.
“Our positioning in the global scheme of things is to provide energy to improve lives sustainably.
“We believe in the strategic strengthening of the natural gas industry’s value in advancing environmental stewardship and economic prosperity.
“Thank you for your attention and together we can create a transformative energy landscape for the world,” he said.
The 24th World LNG Summit and Awards, which recorded 750 attendees and 200 speakers representing 500 companies from across the energy value chain, is being organised by DMG events.
