FSRU & LNG Import Project in Richards Bay, South Africa
The Opportunity
- In September 2020, the South African Cabinet approved a goal to reduce greenhouse gas emissions to net zero by 2050.
- But coal constitutes ~70% of the energy used in SA today.
- The Low Emission Development Strategy (LEDS) is “the beginning of our journey towards ultimately reaching a net zero economy by 2050”.
The Transition to 2050
• Growing environmental pressure (climate change) and depleting coal reserves call for substitution with gas as transition fuel.
• A shift from coal to gas as an interim measure in the energy mix finds a new level.
• A shift from coal to gas as an interim measure in the energy mix finds a new level.
... Gas …
• RSA currently consumes some 182 PJa of gas, constrained mostly by limited supply via the Republic of Mozambique Pipeline Company (ROMPCo) pipeline from Southern Mozambique
• Gas demand is projected to grow to at least 450 PJa by 2030, fueled by substitution of coal in electricity generation, industrial demand and cleaner liquid fuel needs
• Department of Energy (DOE) Integrated Resource Plan 2019 (IRP) and Department of Mineral Resources and Energy (DMRE) calls for 3GW of new gas power generation by 2027.
• Gas demand is projected to grow to at least 450 PJa by 2030, fueled by substitution of coal in electricity generation, industrial demand and cleaner liquid fuel needs
• Department of Energy (DOE) Integrated Resource Plan 2019 (IRP) and Department of Mineral Resources and Energy (DMRE) calls for 3GW of new gas power generation by 2027.
The Solution
2050 Energy (Pty) Ltd together with its strategic partner (a Global LNG Terminal Operator and Trader) are working to:
• Set-up an LNG Storage and Regasification infrastructure ti import LNG into South Africa.
• Develop a profitable gas distribution business in South Africa, supplying gas to anchor CCGT Power customers and selling the additional gas to industrial customers.
• Set-up an LNG Storage and Regasification infrastructure ti import LNG into South Africa.
• Develop a profitable gas distribution business in South Africa, supplying gas to anchor CCGT Power customers and selling the additional gas to industrial customers.
