https://www.engineeringnews.co.za

SacOil, PIC sign energy MoU with Moz

SacOil, PIC sign energy MoU with Moz

Photo by Bloomberg

31st March 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Independent oil and gas group SacOil and the Public Investment Corporation have entered into a memorandum of understanding (MoU) with the Instituto De Gestão Das Participações Do Estado (IGEPE) aimed at regulating a long-term partnership that will look to develop Mozambique’s natural gas industry through the development of several long-term projects.

The agreement with IGEPE – an entity that managed investment portfolios and shares on behalf of the Mozambique government – would replace the “relationship” outlined in the expression of interest signed between the three parties on February 19.

The MoU was intended to regulate the relationship between the parties with regard to assuring the supply of natural gas, and energy security, and “opening up and growing” the industrial and domestic consumer market for natural gas across the country.

The agreement also laid the foundations for the establishment of joint venture (JV) companies that would build an onshore natural gas central processing facility, construct a pipeline to link the gas fields in Mozambique with potential customers in Southern Africa and develop the natural gas consumer market in South Africa and other Southern African Development Community member States.

The partnership would further look to establish ancillary projects, such as a gas-to-liquid plant and a combined cycle gas power plant.  

SacOil said in a statement on Monday that, importantly, all collaborations would be long-term projects that remained subject to feasibility studies, front-end engineering design, detailed engineering, market analysis, social-impact studies, the conclusion of JV agreements and the raising of the required funding.

Edited by Tracy Hancock
Creamer Media Contributing Editor

Comments

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.08 0.132s - 170pq - 2rq
Subscribe Now