Stakeholder session underscores Algoa’s LNG emergence
29 Aug 2019 - by
The fast-emerging prominence of the Eastern Cape and its twin ports of Port Elizabeth and Ngqura as a combined hinterland nerve centre and maritime hub for gas resources took on extra impetus yesterday in a stakeholder meeting hosted by the Coega Development Corporation.
The networking session served to underscore July’s announcement by energy minister Gwede Mantashe that the Eastern Cape was well on its way to playing a key role in the liquid natural gas (LNG) field with significant bunker opportunities for Algoa Bay.
Listening to the province’s MEC for Dedeat (Department of Economic Development, Environmental Affairs and Tourism), MLungisi Mvoko, extol the virtues of LNG-related enterprise options for the Coega Special Economic Zone (SEZ), were several delegates from a variety of private sector concerns.
Among these were high-profile representatives from the South African Oil & Gas Alliance (SAOGA), Petro Marine and Dormac Marine & Engineering.
Highlighting the importance of the LNG market for creating socio economic growth, Mvoko said: “The Eastern Cape has the potential to create a thriving, inclusive, and job-rich oil and gas sector.”
Through the gas industry alone, he added, “South Africa could see an additional 50 000 economy-wide job opportunities over 25 years, which in turn would stimulate GDP growth of at least one percent”.