Zululand Energy Terminal (ZET) signs a Heads of Agreement (HoA) with ExxonMobil South Africa LNG to advance South Africa’s first liquified natural gas (LNG) import terminal at the Port of Richards Bay.
ZET is a joint venture between Vopak Terminal Durban and Transnet Pipelines, and will enable the import, storage, regasification and distribution of LNG to power generation and industrial users. The HoA highlights international market interest in supplying LNG to South Africa, while supporting the continued development of new gas import platform infrastructure.
Andrew Barry, chairman of ExxonMobil LNG Market Development Inc, says: ‘This agreement reflects ExxonMobil’s global LNG experience and our commitment to support South Africa’s energy security with reliable supply. With LNG markets continuing to expand globally, we see a strong opportunity to help meet growing demand for secure energy and look forward to working with ZET to progress this opportunity.’
Maarten Smeets, chairman of ZET, comments: ‘Signing this HoA with ExxonMobil strengthens the base for the development of a terminal with one of the world’s largest energy companies. Via the terminal, South Africa ensures access to the global LNG market to further strengthen its energy mix by gaining access to affordable and reliable supply.’
