Senegal-Mauritania Economic Forum in Dakar: A major step forward for energy and economic cooperation between the two nations

On September 30, 2024, Dakar hosted the first edition of the Senegal-Mauritania Economic Forum, a groundbreaking event aimed at strengthening economic relations between Senegal and Mauritania, particularly in the energy, industry and mining sectors. The forum brought together leading players from both the public and private sectors to discuss investment opportunities and economic cooperation between the two nations.

Chaired by Senegal's Minister of Energy and Petroleum, in the presence of his Mauritanian counterpart Mr Mohamed Ould Khaled, the event marked a crucial stage in regional integration. The forum highlighted the importance of strengthened collaboration in the context of the global energy transition, while addressing the common challenges that both countries face in leveraging their natural resources.

Strategic bilateral cooperation: energy, gas and development

In his opening speech, Mohamed Ould Khaled, Mauritania's Minister of Energy, emphasized the central role of the Great Tortue Ahmeyim (GTA) gas project in the relationship between Senegal and Mauritania. The project, one of the largest in the sub-region, is due to see its first production phase begin by the end of 2024, with the first export of liquefied natural gas scheduled for early 2025. The Minister also praised the transparency and exemplary governance of this major project.

The GTA project is the cornerstone of energy cooperation between the two countries, which have significant gas resources. With more than 95% of the technical work completed, GTA is part of a shared vision to develop natural resources to support the sustainable economic development of both nations. In parallel, Mauritania continues to develop the Birallah gas field, with reserves estimated at 80 TCF (trillion cubic feet), reinforcing the attractiveness of the Mauritanian energy sector for international and regional investors.

Cooperation agreements and the role of the private sector

The forum was also marked by the signing of several agreements designed to strengthen economic ties between the two nations. Two major agreements were formalized on the sidelines of the event:

1. An agreement between Senegal's Agence pour la Promotion des Investissements et des Grands Travaux (APIX) and the Agence de Promotions des Investissements en Mauritanie (APIM), aimed at facilitating and increasing bilateral investment flows in strategic sectors.

2. An agreement between the Conseil National du Patronat du Sénégal (CNPS) and the Union Nationale du Patronat Mauritanien (UNPM), marking the start of a close collaboration between the private sectors of the two countries, essential to foster infrastructure development and support economic diversification efforts.

The theme of the forum, "Economic integration at a time of energy transition and the contribution expected from the private sectors of both countries", reflects the desire of the Senegalese and Mauritanian governments to create an environment conducive to public-private partnerships (PPPs). These initiatives are considered essential to support the development of energy and industrial infrastructures capable of meeting the growing energy needs of both economies.

A shared vision for sustainable and inclusive development

In addition to the gas sector, cooperation between Senegal and Mauritania extends to other key sectors, such as agriculture, water and livestock, with the Organization for the Development of the Senegal River (OMVS) serving as a model of successful partnership for the development of energy and water infrastructures. This exemplary regional cooperation framework has generated significant economic benefits for both countries, and continues to play a pivotal role in their sustainable development strategies.

Minister Ould Khaled also highlighted Mauritania's efforts to adapt its legislative framework to the challenges of energy transition. A recent law provides a framework for the hydrogen sector, with attractive incentives for investors. In addition, a draft law on local content, currently under discussion in the Mauritanian parliament, aims to maximize the economic benefits of energy projects for local populations, thus reinforcing the positive impact of these investments on national development.

A shared energy future for West Africa

Senegal and Mauritania share a common vision: to become regional hubs for low-carbon energy, while stimulating economic and industrial growth in a sustainable manner. In this context, the two nations are committed to working hand-in-hand to attract further investment in their gas and energy resources, while exploring new avenues in renewable energies such as hydrogen and solar.

The signing of these strategic agreements, combined with the progress made on major projects such as the GTA, positions Senegal and Mauritania as key energy players in West Africa. Their strengthened collaboration augurs a period of significant economic growth, driven by a booming energy sector and a legislative framework that encourages innovation and strategic partnerships.