5 European, African Countries Seek Energy Investment As Projects Face Funding Challenges

(MENAFN- Khaleej Times) Five countries from Europe and Africa outlined plans to attract international investment into gas, electricity generation, energy storage and infrastructure projects at Adipec 2026, as governments seek to strengthen energy security and secure financing for major developments.

Speaking during a panel discussion titled“Competing for Capital: Who Will Win the Next Wave of Energy Investment?”, representatives from Bulgaria, Montenegro, Nigeria, Tanzania and Senegal highlighted the importance of regulatory certainty, infrastructure development and partnerships with international investors.

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The discussion was moderated by John Defterios, Chairman of MENA APco and board member of SeforAll, and examined how countries with different energy resources and economic priorities are positioning themselves to attract the next wave of energy investment.

Bulgaria seeks investment in storage and regional connectivity

Iva Petrova, Bulgaria's Minister of Energy, said energy security required greater regional cooperation, investment in transmission infrastructure and diversification of energy supply routes.

She highlighted Bulgaria's electricity and gas interconnections with neighbouring countries, which support the movement of energy across Central and Eastern Europe.

Petrova said energy storage had become increasingly important as electricity demand and supply patterns changed.

She pointed to the rapid deployment of battery storage capacity and plans to develop further storage projects, including pumped-storage hydropower facilities.

Bulgaria is also developing two new nuclear power units as part of its efforts to maintain a diversified energy mix.

Petrova said public-private partnerships would be important in attracting private capital, technology and operational expertise to energy projects.

Montenegro plans energy diversification

Admir Šahmanović, Montenegro's Minister of Energy and Mining, said the country was seeking investment to expand electricity generation, strengthen regional connectivity and reduce reliance on coal.

He highlighted opportunities in hydropower, solar, wind, battery storage and natural gas infrastructure.

Šahmanović also discussed plans involving international partners to explore LNG infrastructure and gas-fired electricity generation.

He said Montenegro aimed to strengthen its position as a regional energy hub through improved connections with neighbouring countries and Italy.

The minister acknowledged the importance of developing alternative energy sources and creating employment opportunities as the country gradually moves away from coal.

Nigeria highlights oil and gas reforms

Senator Heineken Lokpobiri, Nigeria's Minister of State for Petroleum Resources (Oil), said the country was working to attract investment through regulatory reforms and fiscal incentives.

He highlighted Nigeria's efforts to expand oil and gas production while encouraging international companies to invest in exploration, production and infrastructure.

Lokpobiri said domestic energy companies had taken on a growing role in Nigeria's oil and gas industry, including assets previously operated by international producers.

He also discussed opportunities to expand natural gas infrastructure and regional energy connectivity.

The minister said Nigeria wanted to position itself as an attractive destination for investors seeking diversified energy supplies.

Tanzania seeks partners for LNG and gas projects

Dr Juma D. Juma, Tanzania's Minister of Energy, highlighted opportunities for international investors in the country's natural gas resources, LNG development and electricity infrastructure.

He discussed the proposed Tanzania LNG project, involving international energy companies, as well as additional gas development opportunities.

The minister said investment in gas infrastructure could support industrial development, employment and government revenue.

Tanzania is also seeking investment in renewable energy, hydropower, geothermal projects and electricity transmission.

He pointed to the country's geographic position as an opportunity to strengthen energy connections across East and Central Africa.

Senegal focuses on gas-to-power investment

Cheikh Niane, Senegal's Deputy Minister of Energy, said financing remained a major challenge for the country's efforts to develop domestic gas-to-power infrastructure.

He highlighted the importance of building pipelines and power generation facilities to ensure that natural gas production can support domestic electricity demand and industrial development.

Senegal is seeking to develop its gas resources while expanding renewable energy capacity and strengthening its electricity network.

Niane also discussed the need for international partnerships and financing to support energy infrastructure.

He said Senegal was working to attract investors through regulatory frameworks and opportunities in its oil and gas sector.

Energy security drives investment priorities

The discussion followed remarks by Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, who said disruptions in global energy markets had increased the importance of reliable supply routes and logistics.

The panel highlighted the growing importance of energy infrastructure, regional connectivity and investment certainty as countries compete to secure capital for future energy projects.

Participants stressed that attracting investment would depend not only on natural resources, but also on the ability to provide clear regulatory frameworks, develop infrastructure and establish partnerships capable of delivering projects

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