Senegal's Energy Minister to Open New Doors for Strategic Investment at African Energy Week (AEW) 2025
Following its emergence as an oil-producing nation in 2024, Senegal has exceeded expectations with the Sangomar offshore oil field, opening the door to new investment across the energy value chain. Operated by Woodside Energy, the field produced 16.9 million barrels of crude in 2024 – well above the initial target of 11.7 million. Crucially, Sangomar has begun supplying Senegal's domestic refinery, with 650,000 barrels processed in Dakar in early 2025 into diesel, kerosene, gasoline and butane. This marks a major step toward energy self-sufficiency, reduces reliance on imports and strengthens the local value chain – creating clear opportunities for investment in refining, infrastructure and downstream development. With this milestone, Senegal is positioning itself to integrate production into a sustainable, high-impact energy strategy.
In a major milestone for Senegal's gas industry, BP announced first gas from the Greater Tortue Ahmeyim (GTA) Phase 1 LNG project in January 2025. Located offshore between Senegal and Mauritania, GTA is one of Africa's most complex deepwater developments and is set to produce approximately 2.3 million tonnes of LNG annually. The project positions Senegal as a competitive LNG exporter and unlocks significant investment opportunities across gas infrastructure, processing, transport, downstream utilization, and the potential for a second phase of development. Building on this momentum, the Yakaar-Teranga Gas Project – aimed at supplying both domestic power generation and future LNG exports – is targeting a final investment decision in 2025. Together, these developments form the cornerstone of Senegal's gas monetization strategy, offering a stable and scalable platform for investors seeking long-term returns in one of West Africa's most promising energy markets.
Under the leadership of President Bassirou Diomaye Faye, Senegal has launched a bold 25-year economic and social development plan centered on achieving economic sovereignty and unlocking the full value of its natural resources. The plan prioritizes local processing and value addition, with ambitious targets including 100% electricity access and national energy self-sufficiency. For investors, this signals a clear and long-term policy direction that places energy at the heart of national development. Minister Diop is expected to outline how the energy sector will drive this vision – balancing resource monetization with environmental stewardship and embedding sustainability at the core of Senegal's strategy. In addition to its oil and gas developments, Senegal is rapidly expanding its renewable energy capacity, with a target of 40% of its power mix coming from renewables by 2030.
As Senegal continues to build a diversified energy mix and strengthens its legal and policy frameworks, AEW 2025: Invest in African Energies serves as the premier platform for the country to highlight its growing investment potential. Minister Diop's participation will outline the country's achievements in energy development and its vision for future projects, inviting investors to explore strategic opportunities. The event will provide a key opportunity for stakeholders to engage with Senegal's energy sector and align their investments with the country's goals of sustainable development and economic transformation. As a result, AEW 2025 will be instrumental in fostering partnerships and attracting investments that support Senegal's energy ambitions for a sustainable and prosperous future.
AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event. Distributed by APO Group on behalf of African Energy Chamber.
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