Government must not let Luiperd well be a wasted opportunity

Total has made a significant gas condensate discovery on the Brulpadda prospects, located in the Outeniqua Basin, 175km off the south coast of SA. Picture: SUPPLIED

Gas condensate discoveries hold great potential for not only Total but local economies, in the Western Cape in particular. But international firms need policy and regulatory certainty of they are to inject the huge amount of capital needed to explore and later develop sites where gas is found. Other opportunities are simply more desirable to international firms, and the increased competition means that if this sector’s potential is to be realised national government needs to stop dragging its feet.

Without the regulation necessary to give international oil and gas companies certainty, it is unlikely that these resources will ever be developed, and the opportunity for skills development, job creation, economic growth and energy security will be lost. Not only is LNG the more environmentally friendly option but it is also the most cost-effective method of generating power. The Ankerlig station, once converted, could see a reduction in carbon emissions of up to 907,000 tonnes a year and save 1.8-billion litres of water annually, while saving residents millions in the process.

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