Page 8 - DMEA Week 48 2022

DMEA SECURITY & POLICY DMEA

It was confirmed at the summit that South
Africa has a potential green hydrogen invest-
ment pipeline of ZAR300bn ($17.3bn), writes
Engineering News.
Public Works and Infrastructure Minister
Patricia de Lille announced at the summit that
the Green Hydrogen National Programme had
been included in an updated list of Strategic
Integrated Projects (SIPs) for accelerated devel-
opment under the country’s Infrastructure
Development Act.
According to Engineering News, projects
identified as SIPs are theoretically placed on an
expedited path to development, with prescribed
and shortened timeframes for various project South Africa aims to be a producer and exporter of hydrogen (Image: Polity.gov.za)
approvals and authorisations.
Green hydrogen also features in the govern- combined ZAR1.5 trillion ($84bn) that should
ment’s Just Energy Transition Investment Plan be made in the electricity, electric vehicle and
(JET-IP), unveiled by South Africa’s President green hydrogen sectors over the five years from
Cyril Ramaphosa ahead of COP27 climate talks 2023 to 2027. The JET-IP document will be
in Sharm El Sheikh, Egypt. opened up to consultation and is expected to be
The plan outlines investments valued at a finalised in February 2023. ™

COMPANIES
Head of Sonangol notes timeline for IPO

AFRICA ANGOLA’S national oil company (NOC)
Sonangol will only move ahead with an initial
public offering (IPO) of 30% of its stock after
meeting certain milestones over the next five
years, according to Sebastião Gaspar Martins,
the company’s chairman and CEO.
Speaking at an industry conference in
Luanda on November 29, Martins explained
that Sonangol wanted to follow a specific plan
of action for the 2023-2027 period. Prior to the
IPO, he said, the NOC should raise the share
of total oil and gas output coming from fields
it operates to 10%, expand processing capacity
in order to reduce dependence on imported
petroleum products and also develop and build
at least one domestic petrochemical plant.
Sonangol must also improve operations on
the downstream front, he said. This will involve
increasing storage capacity, as well as expand-
ing and monetising the company’s networks for
logistics and the distribution and marketing of
refined fuels, he stated. Martins outlined Sonangol’s goals for 2023-2027 (Image: Energy Capital & Power)
Martins also noted that the NOC had set
goals on the environmental front. This includes development and investing in human and tech-
launching electricity production from renewa- nological capital to increase the company’s pro-
ble sources but will also encompass greater con- ductivity” as priorities, he added.
trol over harmful emissions, he said. Sonangol Once the company manages to meet all of
intends to “reduce by at least 20% [its] emissions these targets, he said, it will be eligible to proceed
of carbon dioxide in exploration and production with the IPO.
operations, as well as in refining,” he declared. Currently, he added, Sonangol’s share of
The NOC has also identified “increasing Angolan crude production is entitled to about
carbon capture with the implementation of our 210,000 barrels per day (bpd). This is equivalent
Sonangol Carbono Azul project, including man- to approximately 20% of the total volume being
grove plantations, optimising organisational extracted from the country’s oilfields.

P8 www. NEWSBASE .com Week 48 01•December•2022