Steve Brann, Long Term Liquefied Natural Gas (LNG) Origination at Vitol Group, will be attending and participating at the African Energy Week (AEW) 2022 conference, Africa’s premier event for the oil and gas sector, which takes place from 18 – 21 October 2022, in Cape Town.
Vitol Group represents one of the world’s largest traders of energy, with 367 million tons of crude oil and products shipped in 2020 alone. Facilitating the flow of energy across global markets, the group is well positioned to lead discussions on improving intra-African energy trade at the continent’s premier event for the oil and gas sector. With the African Continental Free Trade Agreement implemented in January 2021, new opportunities for trade have emerged in Africa, on the back of simplified procedures and new projects across the entire energy spectrum coming online. Under a mandate to make energy poverty history by 2030, AEW 2022 promotes free markets as well as improved trade of energy commodities across Africa. In this regard, Brann, representing Vitol, will be instrumental, driving discussions on trade, LNG and alleviating energy poverty.
Brann’s experience across the global LNG market will be crucial for shaping discussions on how Africa can optimize its LNG market. With Africa set to become a global LNG hub – owing to increased demand from Europe, energy poverty reduction efforts, new gas discoveries in Namibia, Mozambique and Ivory Coast, and increased LNG development and infrastructure rollout in mature markets such as Nigeria, Egypt, Algeria, Niger and Equatorial Guinea – insights from Brann at AEW 2022 will be crucial for helping African energy stakeholders and policymakers understand the challenges and opportunities across the future African LNG market and how to navigate through them.
Prior to his current role, Brann was Vitol Dubai Limited’s Investment Manager for LNG. With investment declines in the oil and gas sector hindering the growth of Africa’s LNG market by limiting exploration and production and delaying infrastructure rollout, Brann’s experience regarding energy investment allocation, policies and management will be vital for discussions around how Africa can attract funding to boost the energy market as the energy transition intensifies. Brann has played a pivotal role in optimizing Vitol Group’s investment strategy with the firm expanding its footprint in Africa through the signing of a multi-billion LNG Sale and Purchase Agreement with Nigeria LNG Limited for the supply of 0.5 million tons per annum of LNG from October 2021 through to 2031. The deal will be critical for Nigeria’s gas market, driving gas monetization and infrastructure modernization. In 2018, Vitol Group also led a consortium of Africa Oil and Delonex Energy in a $1.407 billion investment deal to acquire oil and gas producing assets in Nigeria’s deepwater.
