An extract from the 2018 edition of GAR's The Middle Eastern and African Arbitration Review, first published in May 2018.
The energy sector is a critical element in Africa's economic development. It includes traditional resources such as oil, gas and coal as well as a growing emphasis on renewable sources of energy.1 Historically and today, the African energy sector has been dominated by the petroleum industry. Africa has a number of the world's top oil-producing countries, with an estimated 57 per cent of Africa's export earnings derived from hydrocarbon revenues.2 Africa accounts for over 11 per cent of global oil production over the past decade and, according to 2016 figures, holds 7.5 per cent of the world's proven oil reserves and 7.6 per cent of the world's proven gas reserves.3 In addition, Africa has accounted for onefifth of the growth in total energy demand in the last five years and this demand is expected to increase to 20 per cent of the global energy consumption by 2035–2040.4 As discussed below, the energy sector has generated a significant number of disputes that have been resolved through international arbitration, and this number appears to be increasing.
Click here to continue reading
Originally published by Global Arbitration Review
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
