LNG

While South Africa is undergoing an energy and power crisis a liquefied natural gas and helium project in the Free State is expected to progress at a faster pace after receiving loan approvals of $750 million, including from the US International Development Finance Corporation.

Feb 23 (LNGJ) - French LNG sector players, TotalEnergies and Air Liquide, have signed Corporate Power Purchase Agreements (CPPA) with South African energy group Sasol for the supply of 260 megawatts capacity of renewable electricity over 20 years amid continuing power cuts in South Africa.

   TotalEnergies will develop a 120 MW solar plant and a 140 MW windfarm in the Western Cape province to supply around 850 GWh of green electricity per year to the Sasol’s Secunda site, located 700 kilometers further North-East, where Air Liquide operates the biggest oxygen production site in the world. “Power generation in South Africa is still 80 percent based on coal and power cuts occur daily. With these developments we are proud to support Air Liquide and Sasol for their supply of green electricity,” stated Vincent Stoquart, Senior Vice President for Renewables at TotalEnergies.

South African President Cyril Ramaphosa has declared a national “state of disaster” over his country's power shortages and said the lack of energy security posed an existential threat to the economy and the social fabric of the country.

Intercontinental Exchange Inc., the owner of the world renowned New York Stock Exchange and platforms for trading global oil and gas futures such as the US Henry Hub, North Sea Brent crude and the Dutch Title Transfer Facility for LNG and natural gas, has signed an accord for dual listing with the Johannesburg Stock Exchange (JSE) in South Africa.