Uganda Oil and Gas Summit in a multisectoral approach to energy development

December 21, 2022 0 Comments

The Uganda International Oil and Gas Summit, a firmly established platform for business for Uganda’s hugely exciting oil and gas industries has adopted a multisectoral approach to the development of energy in the country.

Welcoming conference participants, Permanent Secretary, Ministry of Energy and Mineral Development, Eng. Irene Batebe said, “It’s my pleasure to join hundreds of leaders of government, investors and a number of stakeholders for Uganda’s oil and gas industry. The conference comes at a time when we are looking at a number of aspects in the sector such as environment, social governance and the energy transition that the government of Uganda is now committing to. The government of Uganda has taken elaborate efforts to ensure that this industry is well-developed.”

Gracing the summit as chief guest, President Yoweri Museveni highlighted the critical components in trade, which include producer of goods and services and consumers. “The issue of market is crucial. If you don’t solve the issue of market, you can be sure that the economy will not grow. And that’s what we have done for the business people. Uganda is providing market and we have negotiated for the African Continental Free Trade Area (AfCFTA) for the whole of Africa. So, we have the consumers here, we need more of the producers of goods and services who are linked by infrastructure such as energy, water, conveyance, communication and other support systems,” he said.

Uganda is certainly experiencing a transformative time, with a stabilised government, numerous tax and financial breaks for investors, the refinery underway, pipeline development and pound for pound one of the most cost-effective options for oil extraction available, the Albertine Graben offers a real opportunity.

The summit is a platform for oil and gas business in Uganda meeting for all stakeholders in East Africa. Over 400 participants from 125 national and international companies attended the 7th Uganda International Oil and Gas Summit (UIOGS 2022) that took place in September 2022, in Kampala. 

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