Page 10 - AfrOil Week 08 2023
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AfrOil                                         INVESTMENT                                              AfrOil



                         He did not reveal when the asset might be put   liquefaction plant capable of turning out more
                         up for sale or whether the Portuguese firm had   than 15mn tonnes per year (tpy) of LNG. Exx-
                         identified any potential buyers. Negocios com-  onMobil has said that this step may hinge on the
                         mented, though, that the stake might attract   state of security conditions in northern Mozam-
                         considerable interest, as the Russian invasion of   bique. TotalEnergies (France) has already put its
                         Ukraine had disrupted global gas markets and   own $20bn LNG project on hold because of an
                         generated significant interest in new sources of   Islamist insurgency in the Cabo Delgado prov-
                         gas supply.                          ince. ™
                           As of press time, reports of the upcoming
                         sale could not be confirmed. Galp has not com-
                         mented on the matter.
                           The Rovuma LNG consortium is operated
                         by Mozambique Rovuma Venture (MRV), an
                         incorporated joint venture owned by Exxon-
                         Mobil of the US, Italy’s Eni and China National
                         Petroleum Corp. (CNPC). MRV owns a 70%
                         stake in the Area 4 exploration and produc-
                         tion concession contract, while Galp, KOGAS
                         of South Korea and Mozambique’s national oil
                         company (NOC), known as Empresa Nacional
                         de Hidrocarbonetos (ENH), each have 10%.
                           The partners have yet to take a final invest-
                         ment decision (FID) on their $30bn project,
                         which calls for the development of a section of
                         Area 4 and the construction of an onshore gas   Rendering of planned onshore facility for Rovuma LNG project (Image: Eni)


       Sasol launches €50mn fund




       to facilitate decarbonisation






          SOUTH AFRICA   JOHANNESBURG-BASED integrated energy   Ventures places us in a position to access tech-
                         and chemical company Sasol has established a   nology opportunities that will contribute to
                         venture capital fund, Sasol Ventures, to advance   transforming our business,” he added.
                         its decarbonisation and 2050 net zero ambitions.  According to Hanré Rossouw, Sasol’s chief
                           The fund will invest €50mn ($53mn) over   financial officer, Sasol Ventures presents a new
                         the next five years, making it the largest chemi-  dynamic lever to the company’s strategy to pro-
                         cals and industry venture capital fund in South   duce sustainable energy and chemicals products
                         Africa.                              for a modern society.
                           To grow its portfolio for the fund, Sasol has   “We look forward to leveraging our financial
                         partnered with Emerald Technology Ventures,   and intellectual capital through compelling and
                         a specialised global venture capital firm, the   investable prospects that will create value for
                         company said in a statement on February 21.   Sasol and our stakeholders,” he said. ™
                         Through this partnership, Sasol has also directly
                         invested in Emerald’s global energy transforma-
                         tion fund.
                           The collaboration will complement Sasol’s
                         existing research and technology capabilities.
                         The fund will pursue investments in start-up
                         and early-stage technologies that will enable
                         Sasol to meet the need for sustainable chemicals
                         and energy solutions to decarbonise its business
                         and markets that it serves globally.
                           “We are very excited with the prospect of
                         Sasol Ventures playing a key role in our decar-
                         bonisation ambitions,” said Fleetwood Grobler,
                         president and CEO of Sasol.
                           “As the world accelerates its energy systems
                         towards more sustainable systems through
                         emerging and disruptive technologies, Sasol   Sasol says the collaboration complements its existing R&D capacity (Photo: Sasol)



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