Page 11 - AfrOil Week 15 2022

AfrOil PERFORMANCE AfrOil

This sum also included NGN159.8bn ($385mn) The NBS further noted that Nigeria had
worth of LNG, it reported. earned a total of NGN3.8 trillion ($91.6bn) from
The third-largest destination for Nigeria crude oil, LNG and LPG exports in the fourth
crude in terms of revenue was the Netherlands, quarter of 2021. It also reported that LNG and
which took delivery of NGN383.6bn ($930mn) LPG shipments had accounted for NGN398bn,
worth of oil from the West African state in the or nearly 10.5% of the total, but did not provide a
October-December period, the report said. breakdown of LNG and LPG export earnings. ™

POLICY
Energy minister says South Africa could be

on the cusp of a green hydrogen boom

SOUTH AFRICA MINERAL Resources and Energy Minister will largely be driven more by the implementa-
Gwede Mantashe says that South Africa has a tion of tighter emissions legislation, which will
tremendous opportunity to take the global lead boost platinum use in autocatalytic converters
in hydrogen and fuel cell production, reports SA in the short to medium term,” he said. “In this
Gov News. context, the PGMs commodities are poised to
“The new global dispensation of green make a significant contribution to domestic
energy offers South Africa a rare and tremen- and global economies. They provide our coun-
dous opportunity to become a global leader in try with a comparative advantage, thereby ena-
the production of hydrogen, as well as fuel cells,” bling South Africa to benefit in the trade of these
he said, speaking at the Platinum Group Metals commodities.”
Industry Day in Johannesburg. Mantashe further stated that the government
“This is primarily because South Africa holds is planning to establish a platinum valley project
nearly 80% of the world’s platinum reserves. It and has already embarked on a hydrogen val-
is the leading global supplier of primary mined ley feasibility study to take full advantage of the
PGMs (Platinum Group Metals), accounting opportunity. The hydrogen valley will identify
for approximately 80% and 40% of the world’s stable and established project opportunities for
platinum and palladium supplies, respectively,” kick-starting hydrogen initiatives in promising
Mantashe was quoted as saying by SA Gov hubs, with the aim of boosting economic growth
News. and job creation.
The minister said the world’s move towards Mantashe said that the industrial corridor
cleaner energy sources will boost demand for project is expected to start in Limpopo and con-
platinum group metals (PGMs). tinue through the Johannesburg-to-Durban
“Undoubtedly, the future PGMs demand corridor. ™

Mantashe says South Africa should view green hydrogen projects as an opportunity (Image: Tlou Energy)

Week 15 13•April•2022 www. NEWSBASE .com P11