London-listed Corporation Trails Massive Chinese Energy Sector Investments in Africa  With ‘Catch-up Slogan’: “We Don’t Have the Luxury of Time”

Mathios Rigas

By TZBN Staff and Agencies     

Chinese presence in the African energy sector is massive as evident in reports leading to this year’s Invest in African Energies forum in Shanghai, China.  On the heels of the March 2025 Shanghai forum, a eurocentric event given a name similar to the Shanghai event has taken place in Paris, France.

The Invest in African Energies Forum in Paris closed in mid-May with a call from the  London-listed  Energean PLC,  for Swift Action on Africa’s energy Resources. 

In a striking call to action at the closing session of the Paris forum, Chief  Executive Officer of  the London-listed Energean Corporation,  Mr. Mathios Rigas,  laid out a bold vision to replicate the company’s Mediterranean success across Africa, urging African governments to accelerate decision-making and prioritize the development of untapped gas resources.

Rigas’ remarks came during a high-profile panel, The Future of Global Energy Partnerships: Seizing Africa’s Untapped Market Opportunities – which brought together global energy leaders to underscore Africa’s central role in shaping the future of secure, inclusive and sustainable energy systems.

African participants at Paris forum (Photo Credit: invest-africa-energy.com)

“We want to bring the same model that worked in the Mediterranean to Africa,” said Rigas. “We don’t have the luxury of time… To solve energy poverty, affordability and accessibility for the whole continent – we need everything.”

The  apparent ‘lack of time’ comes amid  deep Chinese entranchment in the African energy sector.  China’s growing influence in Africa’s oil and gas sector, particularly in exploration and production (E&P), continues to reshape the continent’s energy landscape, according to a recent APO report.

 At the heart of this expansion is China’s strategic interest in securing energy resources to fuel its growing economy while advancing its Belt and Road Initiative. As the global energy transition accelerates, China’s engagement with Africa’s oil and gas sector has evolved, reflecting both a long-term investment strategy and a deeper commitment to regional energy security.

China National Offshore Oil Corporation (CNOOC) is actively developing key oil fields across Africa, including Nigeria’s ultra-deep Egina field and the recently operational Akpo West field. In Niger, China National Petroleum Corporation (CNPC) signed a $400 million crude supply deal in 2024 and is building a 1,980-km pipeline linking the Agadem Rift Basin to Benin’s Atlantic Oil Terminal. In South Sudan, Dar Petroleum Operating Co., which counts CNPC and Sinopec as major shareholders, recently resumed production after nearly a year-long pause. Sinopec is also expanding its footprint in Algeria through a March 2024 agreement with Sonatrach, which includes plans for the Hassi Berkane Nord exploration zone.

Dr. Wang Zengye, Deputy Director-General of Policy Research Office, China National Petroleum Corporation (CNPC) provided an overview of the projects CNPC has led in Africa. He told the Shanghai energy forum: “Bilateral relationships between China and Africa is already quite strong and high-level cooperation has been established. This ensures that investment can flow.”

Dr. Wang Zengye

Meanwhile, United Energy Group is set to double its Egyptian output after acquiring Apex International Energy’s Western Desert portfolio, adding over 22,000 barrels per day to its production across five concessions. 

In the Republic of Congo, Chinese firm Wing Wah is leading the Banga Kayo gas monetization project, converting flared gas into LNG, butane and propane. CNOOC is advancing Uganda’s Lake Albert project, targeting first oil from the Kingfisher field this year 2025. In Mozambique, CNPC is a partner in the $30 billion Rovuma LNG project, where a final investment decision is expected to be  reached in 2026, while CNOOC signed agreements in April 2024 for five exploration blocks in the Save and Angoche offshore areas. CNOOC is also making waves in Gabon, drilling the Tigre-1 probe in a high-potential deep-water oil prospect, marking the company’s first exploration in Gabon’s deep waters in over five years.

China’s energy investments in Africa extend beyond exploration and production to include vital infrastructure development, including pipelines, power plants and refineries. In Angola, China National Chemical Engineering Co. secured the EPC contract for the $6 billion Lobito Refinery, while China Engineering and Machinery Corp. was recently awarded the contract to build a 350 MW gas power plant in Nigeria. In South Sudan, CNPC and the government are exploring plans to build a new pipeline passing through Djibouti and Ethiopia, aimed at enhancing export capabilities as production increases in Blocks 3 and 7. Additionally, CNOOC is a key partner in the $5 billion East African Crude Oil Pipeline, which will facilitate the first Ugandan oil exports, with financing from the China Export-Import Bank and several other Chinese banks. These infrastructure projects are part of China’s broader push to integrate African nations into global energy supply chains, enabling greater energy access while supporting regional economic growth.

“We want to see investments in African energy. The AEC will continue to support Chinese businesses that want to invest in China and give you the priority needed for you to invest in our beautiful continent,” NJ Ayuk, Executive Chairman of the African Energy Chamber said at the Shanghai Forum. 

NJ Ayuk, Executive Chairman of the African Energy Chamber Speaks at the Shanghai Forum. 

Looking from 2025 and beyond, China’s role in Africa’s energy sector is expected to evolve in response to emerging trends in the global energy market, including the drive toward cleaner energy sources and greater emphasis on sustainability.

Through companies like China General Nuclear Power Group (CGN), JinkoSolar and China Energy Engineering Group, China is funding wind, solar, nuclear and hydropower projects across the continent, reinforcing its commitment to the African energy transition.

This shift aligns with China’s broader climate goals, which include achieving carbon neutrality by 2060, and highlights the growing synergy between China’s energy investments and Africa’s renewable energy ambitions.

As part of this growing collaboration, the African Energy Chamber (AEC) hosted the Invest in African Energies investor forum in Shanghai on March 13, 2025.

 “We see China as a critical country to partner with, not only with South Africa, but the entire continent,” Phuti Joyce Tsipa, Consul General, South African Consulate-General in Shanghai said at the Forum.

Joyce Tsipa, Consul General, South African Consulate-General in Shanghai

The Shanghai Forum sought to bolster China-Africa relations by facilitating market entry and expansion by Chinese firms in Africa. The Forum featured the participation of 100 companies, including consulates, private firms, investors and policymakers, with presentations centering on opportunities for Chinese firms in Africa, strategies for advancing African industrialization and electrification and the impact Chinese technology will have on the African energy market.

A curtain-raiser  statement issued by the African Energy Chamber had earlier said the Shanghai event would focus on strengthening China-Africa relations and creating new opportunities for Chinese producers, investors and equipment suppliers to expand their footprint across Africa.

The Shanghai forum also set the stage for the forthcoming African Energy Week (AEW): Invest in African Energies conference in Cape Town later this year, where key stakeholders will continue to discuss how China’s increasing energy investments in Africa can drive future development, support the continent’s energy transition, and unlock new avenues for energy cooperation across both traditional and renewable sectors.

“China’s expanding role in Africa’s energy sector is not only reshaping regional markets, but also creating vital opportunities for investment, infrastructure development and long-term energy security. As we prepare for the Invest in African Energies investor forum in Shanghai and African Energy Week 2025 in Cape Town, we look forward to strengthening partnerships that drive sustainable growth across both traditional and renewable energy industries,” said Leoncio Amada Nze Nlang, CEMAC Executive President at the AEC. 

Leoncio Amada Nze Nlang

The London-listed Energean PLC, with branches in Israel and Italy, has invested over $3 billion in the Mediterranean over the last five years. Reports from Paris say this corporation is now looking to deploy the same integrated development approach across Africa.  But  Energean  CEO Rigas warns that success  in Africa will depend on bold leadership from governments: “If there are resources being undeveloped, push people to develop them. If they don’t want to, there’s someone else who will.”

A clarification was not given on what this ‘someone else’ could be.

Tim Gould, Chief Energy Economist at the International Energy Agency (IEA), talked at the Paris Forum about need for a balanced and pragmatic approach to Africa’s energy development.

“There’s extraordinary untapped potential, given the richness of the renewable resource across many parts of Africa. But we also recognize that the conversation about Africa’s development cannot end with renewables,” said Gould. “For the IEA, energy security is our core mandate. We don’t see security and sustainability at opposite ends of the spectrum.”  This framing underscored a growing consensus that Africa’s energy mix must be as diverse as its development challenges, with Gould calling for “integrated development of energy systems” that balance affordability, sustainability and sovereignty.

Namibia’s Petroleum Commissioner Maggy Shino offered a compelling national perspective, highlighting how the country’s nascent oil sector could be a springboard for economic transformation, particularly through the development of specialized skills and long-term industrial capacity.

Maggy Shino speaks at Paris Forum

“We are going to establish Lüderitz as an energy hub – that’s where we’re putting the infrastructure to evacuate the green hydrogen we will produce in Namibia, as well as the infrastructure for developing the petrochemical industry,” she said.

Shino emphasized that resource revenues should be leveraged strategically to build the country’s future, not just to meet short-term needs. “We are at a time where Africa should move away from using revenues from resources to address the problems of today. They should be used as seed capital to grow the future.”

Cheick-Omar Diallo, Leader Task Force Communication and Spokesperson for TotalEnergies on the East African Crude Oil Pipeline, defended the development as a sovereign decision by Uganda and Tanzania, emphasizing the company’s efforts to uphold environmental standards, minimize displacement and ensure local benefits.

“We want to be a responsible operator – that means producing to the highest standards while addressing biodiversity and community concerns,” said Diallo. “This was not just a TotalEnergies project – it was a sovereign decision by Uganda and Tanzania. Once that decision is made, the question is how to implement it responsibly. We avoided sensitive areas along the pipeline route, and while displacement is never ideal, it is a reality of infrastructure projects.”

The panel marked a fitting conclusion to the forum, blending urgency, realism and ambition. While global players like Energean and the IEA called for speed and pragmatism, African leaders insisted that the path forward must be driven by national priorities and long-term value creation.