A shrinking US export market for West Africa’s hydrocarbons has caused the latter to look increasingly to the east. However, a review by the US government of its oil export policy could also result in future stiffer competition for West African hydrocarbons in the Asian market.
Some US shale oil and gas exports could also flow to the Asian markets if US domestic policy on exports changes, while China is also ramping up its own shale prospects. African producers will be forced to think more inwardly, causing even greater pressure on investors to prioritize regional and domestic projects over export projects. This could see many Western companies (particularly in the US) seek to cut costs and thus liquidate their assets in West Africa to focus on domestic projects or shift focus to African sub-regions. Such a trend would create even more space for local players to tap into the West African market.
In her paper, entitled, “Positioning West African projects for a shale and post-shale world,” FBN Capital’s Rolake Akinkugbe will share her insights on how industry might anticipate and respond to this shift.
Akinkugbe is scheduled to present her paper on Tuesday, Jan. 20 during the opening plenary, held from 10:00-12:00 in the Mazonia and Abora suites of the Eko Hotel & Suites on Victoria Island, Lagos, Nigeria. This session is open to visitors. For more information, please visitwww.offshorewestafrica.com.