Maputo, Mozambique – Building on Sasol’s long standing commitment to investing in Mozambique, and recognising that Sasol’s commercial interests in Mozambique have helped Sasol to grow as a business, Sasol is making a contribution of US$40 million to Mozambique to ensure the sustainability and development of the country’s downstream gas industry including their industry enablers and derivative markets.
Through a series of discussions with the Ministry of Mineral Resources and Energy, held with a view to ensuring that the funding is put to best possible use, it has been agreed that US$35 million will be allocated to Central Termica de Ressano Garcia (CTRG) under the terms of a Ministerial Dispatch and a funding agreement signed on 3 October 2018 by the Ministry of Mineral Resources and Energy on behalf of the Government of Mozambique, Electricidade de Moçambique (EDM) and Sasol.
Said Peter Manoogian, Sasol Vice President for Mozambique Country Management: “The development of Mozambique’s gas resources has over the years broadened and diversified the country’s economy with gas from Pande and Temane contributing about 16% towards the extractive sector . We believe that the sector has the potential for an even greater contribution.”
“We have resolved that, through continued investment in the domestic market, we can play our part in unlocking the country’s gas resources to enable additional value creation in a number of areas from job creation, skills development to increased economic activity, tax flows and stimulating local businesses.”
According to Manoogian, the provision of the funding will help ensure security of electricity supply from CTRG, and to the development of the nascent vehicular gas market which operates on compressed natural gas.
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