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Value Chains in Sub-Saharan AfricaThe Impact of the United States Energy Revolution and Decarbonisation on Energy Markets in Africa

Value Chains in Sub-Saharan Africa: The Impact of the United States Energy Revolution and... [Two recent developments are influencing energy markets and related value chains in Africa to a dramatic extent: the exploitation of unconventional hydrocarbon resources—the so-called shale revolution—in the United States and the striving for global decarbonisation. Together with the 2014 oil price crash, the shale revolution resulted initially in a precipitous drop in export revenues across Africa’s producer countries—and constitutes a key exogenous effect on the continent’s energy markets. The global transition away from fossil fuels, while ultimately necessary for mitigating climate change, threatens to leave Africa with stranded—meaning worthless—assets. After providing overviews of the shale revolution, decarbonisation and their respective impacts on Africa, this chapter compares how an established and an emerging producer, Nigeria and Uganda respectively, are attempting to deal with these new challenges. It suggests that switching to renewable energies may be wiser than trying to increase value capture in hydrocarbon value chains.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Value Chains in Sub-Saharan AfricaThe Impact of the United States Energy Revolution and Decarbonisation on Energy Markets in Africa

Part of the Advances in African Economic, Social and Political Development Book Series
Editors: Scholvin, Sören; Black, Anthony; Revilla Diez, Javier; Turok, Ivan
Andreasson, Stefan
Value Chains in Sub-Saharan Africa — May 10, 2019
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Publisher
Springer International Publishing
Copyright
© Springer Nature Switzerland AG 2019
ISBN
978-3-030-06205-7
Pages
133 –148
DOI
10.1007/978-3-030-06206-4_9
Publisher site
See Chapter on Publisher Site

Abstract

[Two recent developments are influencing energy markets and related value chains in Africa to a dramatic extent: the exploitation of unconventional hydrocarbon resources—the so-called shale revolution—in the United States and the striving for global decarbonisation. Together with the 2014 oil price crash, the shale revolution resulted initially in a precipitous drop in export revenues across Africa’s producer countries—and constitutes a key exogenous effect on the continent’s energy markets. The global transition away from fossil fuels, while ultimately necessary for mitigating climate change, threatens to leave Africa with stranded—meaning worthless—assets. After providing overviews of the shale revolution, decarbonisation and their respective impacts on Africa, this chapter compares how an established and an emerging producer, Nigeria and Uganda respectively, are attempting to deal with these new challenges. It suggests that switching to renewable energies may be wiser than trying to increase value capture in hydrocarbon value chains.]

Published: May 10, 2019

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