DGAP-News 165 0 Kommentare Senegal Already Produces Gas: Investors Should Look Onshore - Seite 3

The Foundation Is Already There
Fortesa built a foundation for Senegal's emergence as an energy player. Beall believed in the potential of Senegal before many in Europe and North America had thought to examine the country's subsurface. His company worked with or trained many of the people now going on to run the sector or work at the national oil company Petrosen and others.

Onshore gas growth is possible and would lead to direct job creation and sustainable energy provision to households and businesses - and save on costly and high-polluting fuel oil imports.

"This is one of the most cost-effective operations in Africa. Fortesa has essentially unlocked the value of Senegal's energy resources. The projects run by Rogers and his team are sound and are an example of projects that can generate cash and deliver the return on capital that investors are looking for," said NJ Ayuk, Executive Chairman of the African Energy Chamber, to AOP. "I see a team that is focused on improving asset-level economics, reducing capital outlay, and stretching their dollars to do more with less."

AOP's mission is to bring investment to African energy of all kinds, with a view to making life better for people and businesses. Issues of climate change and sustainability must be addressed urgently. But comparatively clean natural gas and the people that produce it (and industries that can use it) should not pay the price for Western institutions' opposition to funding hydrocarbons. "We need to give a chance to people to advance," Beall told us. "Let's do things that work."

15.01.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de