Geingob advocates for ‘robust’ energy mix
President Hage Geingob says countries can only advance their economies and meet the plight of their people if they adopt a healthy and robust energy mix, adding that Namibia is well-placed to become a Sub-Saharan clean energy powerhouse because of its world-class renewable resources.
He said this yesterday while speaking at Africa Energy Week, currently underway in Cape Town, South Africa, under the theme ‘The African Energy Renaissance: Prioritising energy poverty, people, planet, industrialisation and free markets’.
He also called for a more coordinated energy market as well as continued investment in cross-border transmission infrastructure, adding that a deepening of electricity trade can bring more flexibility to achieve a smart, diversified generation structure.
According to Geingob, who described Namibia as a hotbed for hydrocarbon prospecting, the country’s green industrialisation agenda could increase its gross domestic product by N$114.5 billion by 2040, and create 600 000 direct and indirect jobs.
"The exploration of hydrocarbons" on Namibia's shores while "pursuing a burgeoning green and blue economy" can coexist and are "wholly interdependent and complimentary in nature”, he said.
“How can less affluent nations with responsible policy ambitions compete with their wealthier counterparts, who are today continuing to exploit both non-renewable and renewable energy sources, despite having far superior socioeconomic per capita metrics?”
Global energy demands
Geingob added: “This is why in Namibia, our stance remains that for as long as the world continues to need a dynamic energy mix, Namibia is more than willing to meet these global energy demands while strategically using the proceeds to invest in cleaner, more sustainable industries”.
He said Namibia has compiled a "comprehensive strategy to establish a clean synthetic fuel industry which will form the backbone of a green industrialisation agenda”.
"While the production of excess electricity, green hydrogen and ammonia for local, regional and global consumption are clear goals, we have not lost sight of the ideals contained in the flagship programme of Agenda 2063.
"For that reason, Namibia is currently a hotbed for hydrocarbon prospecting with a share of 13% of all offshore rigs operating in Africa. Since 1974, Namibia has witnessed more than 36 wells being drilled, and today, Namibia is clearly at the cusp of birthing a globally significant hydrocarbon industry. It is an opportunity that is impossible to pass up,” he said.
Geingob added that in 2022, Shell and Total announced major oil discoveries off our shores that, “if diligently developed, could result in light crude oil reserves estimated at three billion barrels”.
He said this yesterday while speaking at Africa Energy Week, currently underway in Cape Town, South Africa, under the theme ‘The African Energy Renaissance: Prioritising energy poverty, people, planet, industrialisation and free markets’.
He also called for a more coordinated energy market as well as continued investment in cross-border transmission infrastructure, adding that a deepening of electricity trade can bring more flexibility to achieve a smart, diversified generation structure.
According to Geingob, who described Namibia as a hotbed for hydrocarbon prospecting, the country’s green industrialisation agenda could increase its gross domestic product by N$114.5 billion by 2040, and create 600 000 direct and indirect jobs.
"The exploration of hydrocarbons" on Namibia's shores while "pursuing a burgeoning green and blue economy" can coexist and are "wholly interdependent and complimentary in nature”, he said.
“How can less affluent nations with responsible policy ambitions compete with their wealthier counterparts, who are today continuing to exploit both non-renewable and renewable energy sources, despite having far superior socioeconomic per capita metrics?”
Global energy demands
Geingob added: “This is why in Namibia, our stance remains that for as long as the world continues to need a dynamic energy mix, Namibia is more than willing to meet these global energy demands while strategically using the proceeds to invest in cleaner, more sustainable industries”.
He said Namibia has compiled a "comprehensive strategy to establish a clean synthetic fuel industry which will form the backbone of a green industrialisation agenda”.
"While the production of excess electricity, green hydrogen and ammonia for local, regional and global consumption are clear goals, we have not lost sight of the ideals contained in the flagship programme of Agenda 2063.
"For that reason, Namibia is currently a hotbed for hydrocarbon prospecting with a share of 13% of all offshore rigs operating in Africa. Since 1974, Namibia has witnessed more than 36 wells being drilled, and today, Namibia is clearly at the cusp of birthing a globally significant hydrocarbon industry. It is an opportunity that is impossible to pass up,” he said.
Geingob added that in 2022, Shell and Total announced major oil discoveries off our shores that, “if diligently developed, could result in light crude oil reserves estimated at three billion barrels”.
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