African Energy Chamber opens Shanghai office to boost China energy ties
The African Energy Chamber (AEC) has officially opened an international office in Shanghai, China, aimed at strengthening cooperation between African governments and energy companies and their counterparts in China. The office is expected to spearhead a new era of economic diplomacy while fostering cross-continental partnerships and energy development.
The Shanghai office will be led by Dr. Bieni Da, Chief Representative of the AEC in China, who will spearhead all engagements, ensuring that the AEC plays a pivotal role in connecting Chinese businesses and government entities with African stakeholders.
One of the core objectives of the Shanghai office is capital mobilization. With the continent’s energy finance gap currently estimated to measure between $31 billion and $50 billion, a unique opportunity has emerged for Chinese financiers and project developers. Despite rising energy demand, many African energy firms face constraints in accessing the necessary capital to scale their operations and increase energy production. China, with its well-developed financial and infrastructure systems, presents a fertile ground for capital raising. Under Dr. Bieni Da’s leadership, the AEC will actively work to attract Chinese investment into African energy projects, providing the financial backbone needed to drive innovation and expansion in the sector.
The Shanghai office will also play an instrumental part in connecting Chinese companies with African projects, facilitating partnerships and bringing African opportunity to the Chinese market. Chinese companies have already begun to play a central role in advancing Africa’s energy market, with investments in oil, gas, renewable energy and infrastructure unlocking high returns. Examples include Chinese exploration and production company Wing Wah, who is leading the Bango Kayo development in the Republic of Congo. The $2 billion project – comprising a phased expansion of the operational Bango Kayo conventional oilfield – seeks to monetize previously-flared resources, primarily for the domestic market. The project features the development of three trains, the first of which has a capacity of one million cubic meters per day (MMcm/d). The second and third trains will come online in 2025, increasing capacity to five cMMm/d.
Meanwhile, the state-owned China National Offshore Oil Corporation (CNOOC) is also expanding its presence in Africa. The company is exploring business opportunities in Angola, with talks held for deepwater Block 24. In East Africa, the company is developing the East African Crude Oil Pipeline, connecting the Tilenga and Kingfisher oilfields with the Port of Tanga. CNOOC also acquired two shallow water and three deepwater oil and gas blocks in Mozambique and has partnered with the Tanzania Petroleum Development Corporation to explore deep-sea Block 4/1B and 4/1C. The China National Petroleum Corporation (CNPC) has stakes in Mozambique’s Coral South FLNG development, which began production in 2022, and has also signed a $400 million crude oil supply agreement with Niger. These are just some of the many projects spearheaded by Chinese companies.
“The AEC wants to see greater Chinese investment across the entire African oil and gas value chain – from upstream projects to downstream infrastructure to manufacturing, power and technology," said NJ Ayuk, Executive Chairman of the AEC. "China offers significant expertise in these areas and the Shanghai office will unlock new collaborative opportunities in artificial intelligence, electric vehicles, renewable energy and more.”
