SA Energy Minister: “There is an Attack on Fossil Fuels”

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  • In a webinar hosted by ABSA bank this week, South Africa’s Mineral Resources and Energy Minister, Mr Gwede Mantashe said that fossil fuels are being attacked as a source of energy.
  • The Minister said that gas power has a role to play in South Africa’s energy transition.
  • ABSA has expressed keen interest in financing the three controversial Karpowership SA  gas to power projects in South Africa’s Risk Mitigation IPP Procurement Programme. Read more 
  • Karpowership SA recently won preferred bidder status for a total of 1220MW capacity for floating gas to power projects in three ports.
  • However their environmental impact assessments have been rejected. Read more

Hitting home his stance, Mantashe said “Our argument is that we are developing economy, we cannot pretend as if we are Germany.” Germany, unlike South Africa, has France as a neighbouring country which can provide it with nuclear power if needed. “We do not have France as a neighbour. We are a developing economy,” he said.

Related news: Nervous Money, LNG Projects Struggle to Raise Funding

“Our view is that, into the future, mixed technologies are our best option.” As coal is reduced, the country must use gas optimally and reintroduce nuclear, he added. A call for public comment is in process to build a new nuclear plant near Cape St Francis in the Eastern Cape. Read more 

Mantashe confirmed that the country was pinning hopes on sourcing gas from Mozambique. Total recently declared force majeur on their USD 25 billion liquified natural gas project in Alfungi,  Mozambique. Read more  

A full video of the webinar is featured above.

Author: Bryan Groenendaal

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