US announces initiatives to promote energy investment in Africa

US Energy Secretary Bill Richardson has announced a number of US initiatives aimed at promoting investment in Africa's energy sector and enhancing the continent's capacities in that area.

The Pan-African news agency PANA quoted Richardson as saying during a conference of African energy ministers hosted by the US Department of Energy in Tucson, Arizona, that his department would sign an agreement with the US Overseas Private Investment Corporation (OPIC) to create "the US-Africa sustainable energy program" that would facilitate investment in energy projects in Africa.

Other initiatives included the sponsorship of a summer energy institute by the US Department of Energy and the University of Arizona to follow up on themes of the conference, holding of a workshop on sustainable energy technologies and creation of a project to help develop country and regional capabilities in oil spill planning and emergency response in support of environmentally sound oil exploration, development and transportation technologies in Africa.

In addition, the energy department would work with USAID to provide technical assistance and training to the Southern African Development Community to promote competitive energy markets, while the USAID would continue support for west African states to develop a model for a sub-regional power pool.

Africa has become an important supplier of energy resources for the US, having supplied about 1.3 million barrels of oil per day to the US in 1998.

According to American officials, The USA will be looking more and more to Africa for its supply of natural gas whose demand in the US would increase by more than 60 percent by 2015.