If the recent call for an end to new oil and gas exploration by the International Energy Agency, long the most loyal friend of the oil industry, did not underscore that the world is changing, “Black Wednesday” made it inescapable.
Coal and oil fuel an unsustainable 90% of electricity generation. The government has committed to reducing dependence on coal by half in 2030, but this is insufficient, and it will undoubtedly be forced to further reduce it sooner than planned. Domestic gas exploration is delivering results, with Total leading the discovery of offshore reserves estimated at about 60-trillion cubic feet . This alone would fulfil half of current demand, solving the incoming deficit but falling well-short of future requirements. Again swimming against the tide, government is also taking a second look at shale gas as the world moves away from it. In addition, liquefied natural gas imports can bring gas at a competitive price as the only alternative.
The three LNG projects under way involve oil and gas majors, including Exxon, Total, ENI, China National Petroleum Corporation, Japan’s Mitsui and national companies from India, Thailand and Portugal. Each of the projects involves initial multi-billion dollar investments as well as follow-on expansions for a decades-long investment rollout of $100bn . Revenue estimates currently hover around $500bn . To put this in perspective, Mozambique’s GDP was $15bn and SA’s was $220bn in 2019.
Source: News Formal (newsformal.com)
Thank God for bringing bitcoin to man,it has being a great source of blessing to all of man kind who have passion for bitcoin trading. Now the poor are getting rich over night and the rich getting richer. Banjy62 thank you for your proper management,🙏🏻🙏🏻
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mozambique matters to an SA gas market heading into deficitThe government might think it has control over SA’s energy mix, but it will get harder to keep control in coming years Tears grips my heart knowing how hard I’ve struggled to find a legit trader.I never wanted to do this but I’ll be guilty if I don’t share this good news to people sharon_trad is the best trader so far Thanks for helping me and i will forever be grateful to you sharon_trad Tears grips my heart knowing how hard I’ve struggled to find a legit trader. I never wanted to do this but I’ll be guilty if I don’t share this good news to people tyron_robert7 is the best trader so far.Thanks for helping me and i will forever be grateful to you tyron_robert7
Source: BDliveSA - 🏆 12. / 63 Read more »
SA, Mozambique state energy firms to increase shareholding in gas pipelinePetrochemical firm Sasol said last month it was selling the stake in the ROMPCO pipeline from Mozambique to SA to a consortium of investors including Reatile Group for an initial amount of R4.15bn
Source: TimesLIVE - 🏆 28. / 59 Read more »
SA, Mozambique state energy firms to increase shareholding in gas pipelinePetrochemical firm Sasol said last month it was selling the stake in the ROMPCO pipeline from Mozambique to SA to a consortium of investors including Reatile Group for an initial amount of R4.15bn If sasol is a state owned company, why petrol so expensive
Source: SowetanLIVE - 🏆 13. / 63 Read more »
SA and Mozambique exercise rights to raise stakes in Rompco pipelineSA’s iGas and CMG plan to acquire a 30% share of the infrastructure valued at R4.1bn
Source: BDliveSA - 🏆 12. / 63 Read more »
COVID-19 LIVE UPDATES | SA moves to alert level 4 for 14 days : Cyril RamaphosaCoronavirus Updates. Last year they lied that the lockdown level 5 would last a couple of weeks, and what happened This govt lies too much😛
Source: TimesLIVE - 🏆 28. / 59 Read more »
LUKANYO MNYANDA: Commission-fatigued SA could do with one on its Covid responseAnother inquiry might not sound appealing but questions need to be asked about the government’s handling of the coronavirus crisis
Source: BDliveSA - 🏆 12. / 63 Read more »