Nigeria: Fire Engulfs Kano TCN Substation

A transmission substation belonging to the Nigeria Transmission Company (TCN), in Kano engulfed in fire on Sunday, March 10, 2024. The Dan’Agundi Power Transmission Station which is a critical electricity supply hub for Kano city, according to NTA, broke the unfortunate incident which occurred at about 5 pm. According to report, the unfortunate incident resulted in power outages, thus, affecting areas surrounding the transmission station in the Kano State capital. The Kano State Fire Service was called and report said they were actively engaged in battling the inferno. There have been no reported casualties from the incident or injury as of the time of this report. The cause of the fire and the extent of the damage to the transmission stature too, are not known. Kano Electricity Distribution Company (KEDCO) and TCN are yet to comment on the issue.   Source: https://energynewsafrica.com  

Ghana: ECG Ashaiman District Discovers 130 Illegal Connections

The Ashaiman District of the Electricity Company of Ghana (ECG) discovered a total of one hundred and thirty illegal connections within its operational area over three days. The discoveries, which were part of a revenue mobilisation project the District was embarking on, started on Monday, 4th March 2024. Speaking on the progress of the exercise to the media on the morning of Friday, March 8, 2024, before the start of the fieldwork, the District Manager for Ashaiman, Ing Kissi Ohenebeng said his outfit had issued summons to people involved in the illegal act,7 stating that some started reporting to the office from Tuesday to rectify the issues identified. He added that over the three days that the project had been ongoing, his outfit, with support from several staff from eight other districts, as well as the regional office of the Tema Region of the company, had been able to visit over 5,000 customers. Ing Ohenebeng, when asked about possible prosecution of those caught with illegal connections, indicated that “indeed should customers default in payments, the Company is always ready to explore the possibility of addressing the situation at the court.” He added that “illegal connection is stealing, which makes it a criminal offence. He admonished customers to desist from such acts as the consequences could be unpleasant.” The Ashaiman District of the ECG is under the Tema Region, which also has Tema North, Tema South, Afienya, Prampram, Ada, Nungua, and Juapong-Krobo Districts. Staff were deployed from all over the Region to the Ashaiman District to support this special revenue mobilisation exercise. The Acting General Manager of the ECG Tema Region, Ing Daniel Asare-Mensah, on his part, encouraged customers to “be ready to pay for power consumed and to pay on time to avoid debt build-up.” Ing Asare-Mensah indicated that the Ashaiman exercise ended Friday, 8th March 2024, while a similar project with support from the Region’s workforce would be replicated in the other districts. He also indicated that the Afienya and Prampram Districts would be the next to run such special revenue mobilisation exercises.     Source: https://energynewsafrica.com

Ghana: GRIDCo Announces Power Supply Challenge In Bogoso, Other Areas

The Ghana Grid Company (GRIDCo) has assured residents of Bogoso and surrounding towns in the Western North Region that their engineers are working seriously to restore power supply to the area. In a statement issued on Friday, March 8, 2024, the power transmitter said a transformer at the Bogoso substation tripped on Thursday 7th March 2024, thus, causing power supply challenges in the area. “Gridco apologises for the inconvenience caused and assures the residents of Bogoso that efforts are being made to restore power to the township,” the statement concluded.     Source:https://energynewsafrica.com

The Gambia: President Barrow To Inaugurate 23MW Solar Project On Saturday, March 9

President of the Gambia H.E Adama Barrow will be joined by top officials of the country and some diplomatic mission heads and The Gambia people to inaugurate the country’s 23MW peak solar project located in Jambur, Kombo South District, West Coast Region on Saturday March 9, 2024. The project, which was funded by the World Bank, European Investment Bank and the European Union is expected to expand electricity access to The Gambians, create jobs and spur economic growth. Commenting on the project ahead of the official inauguration, President Adama Barrow said the Jambur solar plant is a symbol of commitment to cleaner, brighter future for The Gambia. “The significant project made possible through the collaboration of the European Union Investment Bank (EIB), European Union, World Bank and NAWEC under GERMP, represents a major step forward in diversifying The Gambia’s energy mix and reducing dependence on fossil fuels,” a statement issued by National Water and Electricity Company said. In an exclusive interview with Michael Creg Afful, editor of energynewsafrica.com, in Cape Town, South Africa, during the African Energy Week 2023, Nani Juwara, the Managing Director of NAWEC, said the project is the first of its kind in The Gambia and would be connected to the national grid. The Gambian Government, he explained, is also working with the West Africa Power Pool to develop a 150MW solar plant project in the country. “So we are currently working on the first phase of the project which is going to be 50MW,” he noted. He affirmed that studies had already been completed, adding that tender documents had also been done and waiting for the r procurement process, which is also expected to be done before the end of this year. Should the project start as stated, Nani Juwara observed that it could be launched before the end of 2024. Touching on the access to electricity in The Gambia, he said currently, about 60 per cent of the population has access to power while a chunk of the rural folks do not have it.     Source: https://energynewsafrica.com

Ivory Coast: Eni Discovers Major Oil In Block CI-205 Offshore

Italian oil and gas giant, Eni, has announced a major discovery of oil and gas in the CI-205, offshore the Republic of Côte d’Ivoire. The discovery, named Calao, stands as the second largest in the West African nation, following the Baleine field discovered by Eni in September 2022. In a statement issued by Eni on Thursday, March 7, 2024, it said the Calao discovery was greeted as a significant one. The statement said the President of the Republic of Côte d’Ivoire Alassane Ouattara and the Chief Executive officer of Eni, Claudio Descalzi, already met in Abidjan to discuss the company’s activities in the country, including the successful results of the exploration well Murene 1X on the discovery named Calao. The statement said the Prime Minister, Robert Beugré Mambé, and the Minister for Mines, Petroleum and Energy, Mamadou Sangafowa- Coulibaly also participated in the meeting. “Drilling operations took place approximately 45 kilometres off the coast in block CI-205, reaching a depth of 5,000 meters in water depths of around 2,200 meters. “The well-encountered light oil, gas and condensates in various intervals of the Cenomanian age characterized by good to excellent permeability values. “Preliminary assessments indicate potential resources ranging between 1 and 1.5 billion barrels of oil equivalent,” the statement said. Eni operates the block in partnership with Petroci Holding. President Ouattara and Mr Descalzi discussed the appraisal and development plans for the discovery, including Eni’s commitment to meeting the country’s domestic needs. Eni has been operating in Côte d’Ivoire since 2015. In addition to blocking CI-205, Eni holds participating interests in five other blocks in Ivorian deep waters: CI-101, CI-401, CI-501, CI-801, and CI-802, all in partnership with Petroci Holding. Presently, Eni has an equity production of hydrocarbons totalling approximately 22,000 barrels of oil equivalent per day from the Baleine field, which started production in August 2023.       Source: https://energynewsafrica.com

Nigeria: President Tinubu Suspends REA Boss, Directors … Wants Them  Probed  Over Alleged N1.2bn Fraud

Nigerian President Bola Tinubu has indefinitely suspended the Managing Director/Chief Executive Officer of the Rural Electrification Agency, Ahmad Salihijo, alongside three executive directors of the agency, from office. In a statement signed by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, the State House revealed in a statement that the decision followed “new findings unearthed during a comprehensive investigation into the financial activities of the Rural Electrification Agency.” Aside from Salihijo, the President has also suspended the Executive Director, Corporate Services, Olaniyi Netufo; Executive Director, Technical Services, Barka Sajou, and Executive Director, Rural Electrification Fund, Sa’adatu Balgore. Also, Tinubu has ordered a wider investigation into the conduct of the officials in “a fraudulent mis-expenditure amounting to over N1.2bn over the past two years, some of which has already been recovered by anti-graft agencies,” Ngelale revealed. Consequently, the President has appointed a new management team of the agency who will serve in acting capacity with immediate effect. They include: Abba Aliyu as Managing Director/CEO, Ayoade Gboyega as Executive Director, Corporate Services, Umar Umar as Executive Director, Technical Services, Doris Uboh as Executive Director, Rural Electrification Fund and Olufemi Akinyelure as Head of Project Management Unit, Nigeria Electrification Project. The President “expects all appointees in his administration to uphold the highest standards of transparency and accountability in the discharge of their duties and reiterates his determination to elevate the yearnings of Nigerians for good governance and qualitative service delivery above the narrow interests of individuals who are entrusted to provide critical services to the Nigerian people,” the statement concluded.     Source: https://energynewsafrica.com

Ghana: GRIDCo Board Chairman Urges Journalists To Build Capacity In Energy Reporting

A veteran journalist and Board Chairman of Ghana’s power transmission company, GRIDCo, Ambassador Kabral Blay-Amihere, has urged journalists who report on Ghana’s energy to seek knowledge and understanding about the operations of the energy sector in order to churn out accurate reportage. He said understanding the operations of the energy sector better begins with knowing the history of electricity in Ghana, including the laws that regulate the sector. “A well-informed and educated media will not fall prey to the politicisation of electricity. We have this kind of media; they will set the agenda, educate the public about the real situation as Bob Marley will put it,” he added. Ambassador Blay-Amihere, who was delivering a keynote speech at a media training organised by Energy News Africa on February 13, 2024, at GIMPA, stressed that “if the media understands the sector very well, they will not readily blame frontline players in the sector, such as VRA, GRIDCo and ECG, every time the lights go out in our homes or offices.” He said they would rather notice and tell the stories of very hard-working professionals, technicians, engineers and maintenance guys who traverse valleys, forests and climb hills, keep long hours in control rooms to keep our lights on. The veteran journalist noted that electricity had become so politicised and that with electricity now, like oxygen, the fate of governments and the chances of opposition parties winning elections are linked to electricity.
Ambassador Kabral Blay-Amihere, Board Chairman of Ghana Grid Company, GRIDCo.
“The media always stand the danger of getting entrapped and consequently report or cover the energy sector without high levels of objectivity,’’ he said. Ambassador Blay-Amihere charged the media to interrogate government policies on the sector and not just be satisfied with explanations from the Energy Minister or the Ranking Member on Energy, adding that “they may just say something today just to fill space and satisfy your so-called 5 Ws and How.” According to him, providing reliable and sustainable electricity 24/7 and 24/365 is capital-intensive and expensive. He indicated that due to this, successive governments and entities, such as VRA, GRIDCo and ECG, have been compelled to borrow so much to ensure that electricity reaches every home, office and industry in Ghana. He said, for instance, in 2013, GRIDCo contracted a loan of USD 178 million to build its 330 kV transmission line from Kumasi-Kintampo-Tamake-Bolgatanga to ensure reliable power supply to the North and beyond. Besides, he said Ghana needed about $150 billion to build the Western corridor lines and a similar amount would be needed to build the Eastern corridor lines too, adding that the investment needed was very huge to make generation and distribution smooth. The Managing Editor of energynewsafrica.com, Mr. Michael Creg Afful, implored Ghanaian journalists to take interest in the energy sector and learn its technicalities, so that they can come out with accurate report devoid of misinformation.
Michael Creg Afful, Editor of Energy News Africa
He said deepening the relationship between players in the energy sector and journalists is critical in helping to disseminate the right information to the public. He paid glowing tributes to experts in the energy sector who encouraged him to specialise in energy reporting; he also urged other media professionals to specialise in the sector.       Source: https://energynewsafrica.com

Kenya: Kenya Power Faces Tough Competition As Regulator Develops Regulation To Allow Private Sector Involvement In Power Distribution

The monopoly currently being enjoyed by Kenya’s power distribution company, Kenya Power, will soon be a thing of the past as the country’s energy regulator, the Energy and Petroleum Regulatory Authority (EPRA), has developed regulations that will open up the electricity market and allow private sector investors to participate in the distribution of electricity. Kenya Power has enjoyed a monopoly for several decades, spanning from 1922 when the company was incorporated as the East African Power and Lighting Company Limited to serve Kenya, Uganda and Tanzania. Its name changed to the Kenya Power and Lighting Company Limited in 1983. Kenya Power is partly owned by the Government of Kenya, with 50.1 per cent shareholding and private investors with 49.9 per cent shareholding. A report by Kenya Star, a local news portal, said the regulations were developed following a petition by Independent Power Producers (IPPs) to allow open access to power transmission and distribution. The draft Energy (Electricity Market, Bulk Supply and Open Access) Regulations, 2024, will, upon gazette, apply to the generation, importation, exportation, transmission, distribution and retail supply of electrical energy. The Director General of EPRA who spoke at a public participation workshop recently explained that the investors would be at liberty to participate in power generation, transmission and distribution infrastructure business enabling them to supply bulk electricity to private retail vendors who would, in turn, oversee last-mile connectivity and billing to consumers. He added that the open access principle is a step forward in modernising the electricity market and promoting competition. “It introduces the wheeling of electricity which holds the potential to unlock new investment opportunities, enhance grid reliability, and ultimately deliver greater value to consumers who can enjoy lower power bills, less frequent outages and more choices on electricity suppliers,” he said as quoted by the Star. The regulator would promote fair pricing by reviewing and approving proposed tariffs for any service to be charged by licensees. This includes tariffs to be applied by generators, retailers, network service charges, wheeling charges, use of system charges, and ancillary services charges. The regulations further highlight how the structure and design of the electricity market would be developed and the different roles of different licensees in the sector. They also establish the responsibilities of transmission and distribution licensees in maintaining their networks and providing non-discriminatory access to other licensees and eligible consumers.       Source: https://energynewsafrica.com

Ghana: IPPs, PURC Clash Over Electricity Tariffs Reduction

The recent announcement of 6.56% and 4.98% reductions in electricity tariffs for residential consumers and non-residential consumers of electricity above 301kWh by PURC has sparked concerns in Ghana’s power sector. While some are arguing that the reductions are in order, citing the issue of energy mix and other factors, others believe the reductions would increase the insolvency in the power sector. One body that is worried about the development is the independent power producers (IPPs) in the country. In an opinion piece, Dr. Elikplim Kwabla Apetorgbor, who is the Chief Executive Officer (CEO) of Independent Power Producers Ghana, warned that the debt owed their members is likely to exacerbate to about US$1.8 billion by the end of the year 2024. He argued that the debt is likely to exacerbate due to escalating variable costs of electricity production such as fuel, maintenance, idle capacity charges as a result of commissioned generation capacities coming from on-grid and off-grid generations. In buttressing his point, Dr. Apetorgbor said natural gas, for instance, sells currently at an average high price of 8.8 US cents/mmscf, and mentioned the continuous depreciation of the Ghana cedi, etc. Again, he said the generation tariffs are set for an automatic upward adjustments necessitated by the increasing variable costs and other increased-cost-events. “The tariff reductions, while beneficial for consumers, have not been matched with a decrease in production costs (decreased costs), leading to significant financial deficits. “The sector is plagued by inefficiencies, including high transmission and distribution losses, which exacerbate the financial challenges,” he stated. According to him, this situation mirrors the repercussions of similar tariff actions by the PURC in 2018 by 17.5% and 30% for both residential and non-residential customers, which significantly contributed to the financial gap faced by the Electricity Company of Ghana (ECG). He said since then, ECG had never met the revenue requirement of the sector. This has placed an avoidable strain on the sustainability of ECG, resulting in a cycle of financial insolvency, operational and governance deficiencies. The core of ECG’s financial woes lies in the imbalance between revenue generation and operational costs. He said despite ECG’s commitment to a fixed US$43 million monthly sum to IPPs, it continues to pile up about 70% of its monthly obligations to the IPPs alone. “With this tariff reduction, the Government of Ghana renegotiation appeals to IPPs may hit the rock, as the risk of default on obligations going forward becomes high,” he warned. However, the Executive Secretary of PURC, Dr Ishmael Ackah, indicated that the reviews were undertaken in line with the quarterly tariff review (QTR) mechanism of the commission, which tracks and incorporates movements in key uncontrollable factors, namely the exchange rate between the US dollar and the Ghana cedi, domestic inflation rate, the electricity generation mix and the cost of fuel, mainly natural gas. He emphasised that the objective of the QTR is to ensure that the utilities recover their revenues (revenue requirement) which include allocations for operational and maintenance cost, capital investment and other important regulatory costs. Dr. Ackah underscored another important objective of the April to June 2024 QTR, which is to reduce existing residential tariff bands as part of measures to reduce the cross-subsidy, reduce non-residential class bands to two, as well as a reduction in industrial tariff bands to reward the productive use of electricity. This reduction in the tariff bands for electricity customers, he noted, is to allow for ease of implementation of the approved tariff bands, ease of interpretation to customers, and ultimately make meters more affordable to consumers in the long run. The executive secretary added that the QTR sought to recover the total revenue requirement for the period between April and June 2024. Furthermore, whilst there has been a depreciation of the projected Ghana cedi to the US dollar in the quarter compared to the previous quarter (December 2023 – February 2024), the projected inflation rate, on the other hand, has reduced from 40.43% in the previous quarter to 28.27%. The projected hydrothermal generation mix was also increased from 31.91% to 34.81% for hydro, and reduced from 68.09% to 65.19% for thermal in the April to June 2024 QTR. Following the above changes in the variables considered in the determination of QTRs and with gas prices remaining constant, Dr Ackah indicated that this meant the utilities were projected to gain some windfall in their revenue requirements. Thus, the PURC took advantage of this projected surplus to merge some of the tariff bands across the various electricity customer classifications. He, however, mentioned that, notwithstanding the adjustments made, the lifeline tariff customer group and the low voltage (LV) and mines customer groups did not experience any change in their tariffs for the April to June 2024 tariff review period. Dr Ackah reiterated that for the review period under consideration, only some residential customers and high voltage (HV) customers experienced reductions in their electricity tariffs, while the steel companies customer groups will witness more than 30% increase in their tariffs. Other customers experienced marginal upward adjustments. According to the executive secretary, the public should dispel misinformation that the few customer groups that witnessed a reduction in the tariffs would consequently compound the debts in the energy sector. He assured the public that the PURC is mindful of the financial sustainability of all utilities and the welfare of the paying consumer. He further clarified that upward adjustments in tariffs do not automatically result in reduction of energy sector debts or guaranteed payments to IPPs.     Source: https://energynewsafrica.com

Ghana: Vivo Energy Ghana, United Way Ghana Partner To Educate School Children On Renewable Energy Technologies

Vivo Energy Ghana, the Shell Licensee has signed an agreement to partner with the United Way Ghana, a non-governmental organisation in the Republic of Ghana to launch a renewable energy project among schools within its communities. The move is in line with the firm’s sustainability efforts towards the environment. The renewable energy project seeks to empower and provide students with a solid understanding of various renewable energy sources, including solar energy. The Memorandum of Understanding (MOU) commits both organisations to instil in the school children a sense of responsibility towards the environment and prepare them for future careers in science, technology, engineering, and mathematics (STEM). “By introducing innovative educational programmes and practical demonstrations, the initiative aims to inspire the next generation to embrace sustainable energy solutions and raise awareness about environmental challenges and the importance of adopting sustainable energy practices within the school and the broader community,” the company said in a press statement. Working closely with the Educational Director, Ghana Education Service of the La Dade-Kotopon Municipal Assembly, the Vivo Energy Ghana renewable energy project for school children will feature a series of interactive workshops, educational tours, development of educational materials and hands-on activities designed to engage students in learning about solar, wind, and other renewable energy sources. Through experiential learning opportunities, participants will gain deeper understanding of the environmental benefits and practical applications of renewable energy technologies. “Partnering with the United Way Ghana on this renewable energy project underscores our commitment to environmental sustainability and community empowerment,” said Kader Maiga, Managing Director of Vivo Energy Ghana. “Together, we aim to instill a sense of environmental responsibility in young learners and equip them with the knowledge and skills needed to build a greener future,” he added.   United Way Ghana shares the vision of promoting sustainable development and recognises this partnership as an important step towards achieving that goal. “Following the successful roll-out of Cyclean in the La Enobal Basic School, we are excited to enter into another partnership with Vivo Energy Ghana to introduce school children to renewable energy. By investing in the education and engagement of young learners, we can create a ripple effect of positive change across communities and drive the transition towards renewable energy,” says Faustina Abbey, Acting Executive Director of United Way Ghana. As part of the partnership, Vivo Energy Ghana and the United Way Ghana will also work closely with local schools within their area of operation, community centers, and educational institutions to ensure broader participation and impact.     Source: Vivo Energy Ghana

Congo Joins LNG Exporting Countries As Eni Ships First Cargo

The Republic of Congo has become the latest exporter of Liquefied Natural Gas (LNG) after the country launched the production of the first cargo load a year after Italian energy company, ENI, had launched the Congo LNG project with local partners. The first cargo ship laden with LNG will head to the Italian regasification plant in the Tuscan city of Piombino in the coming days, ENI said in a statement last week. “With the first cargo, the Republic of Congo enters the group of LNG exporting countries, opening up opportunities for economic growth while contributing to the global energy balance,” ENI said. ENI and its partners shared workforces, know-how and technology “ensuring additional revenues to the country while contributing to Europe’s energy security,” CEO Claudio Descalzi said in a statement. The project will have an annual capacity of 4.5 billion cubic meters of natural gas, which is used to heat homes and businesses. It is formed when gas is cooled to about -260 F (-162 C) to be stored and shipped safely aboard specially designed vessels. Europe has been in search of new energy sources since moving to cut off Russian supplies following its full-scale invasion of Ukraine two years ago. Sales of Russian gas abroad have dropped by 40 per cent since the invasion, according to the ISPI think tank. Last year, Minister for Hydrocarbons, H.E Bruno Jean-Richard Itoua, while speaking in South Africa, revealed that Congo would join LNG exporting countries by December 2023. “I am pleased to announce that by December 2023, Congo will export its first LNG,” he said while addressing participants at the just-ended African Energy Week 2023 in Cape Town, South Africa. Congo has natural gas reserves of about 284 billion cubic meters as of 2021.       Source: https://energynewsafrica.com

Tullow Oil Swang To Loss Of $110M In 2023

Africa-focused independent oil company, Tullow Oil PLC, recorded a US$110 million loss after tax last year, compared with a profit after tax of US$49 million in 2022. In a statement issued on Wednesday, Tullow said its gross profit for the year 2023 was US$765 million but recorded a loss of US$110 million after-tax driven by impairments and write-offs totalling US$435 million. The company’s revenue for the year 2023 is pegged at US$1,634 million compared with US$1,783 million in 2022. Tullow also generated around US$170 million in free cash flow last year, ahead of the US$150 million guidance but below the US$267 million generated in 2022, and cut net debt to US$1.61 billion from US$1.86 billion in 2022. Tullow expects to generate more than US$600 million in free cash flow in 2024 and 2025. Its market capitalisation stood at US$410 million as of March 6. The company has focused on reducing debts, significantly cut capital allocation to long-cycle projects, and raised over US$700 million through sales of interests in Uganda, Equatorial Guinea and Gabon. In 2023, production was pegged at around 62,700 barrels of oil equivalent per day (boe/d) and in 2024 output is forecasted between 62,000 and 68,000 boe/d. Its turnover declined to US$1.63 billion last year, from US$1.78 billion in 2022. It would have been US$139 million higher without hedges. The company expects US$250 million of capital expenditure in 2024, compared with US$380 million last year. About 60 per cent of the capital costs this year would be allocated to Jubilee. Tullow also reiterated its guidance for US$200-300 million of free cash flow this year at the US$80 a barrel level for crude, largely driven by the timing of revenue receipts for 18 to 19 cargoes lifted in Ghana during the year. Commenting, Chief Executive Officer of Tullow Oil plc, Rahul Dhir, said, “2023 was a year of significant achievements, including the start-up of Jubilee South East that delivered material production growth from our core operated field, a new revenue stream established from the sale of Ghana associated gas; and reserves growth in Gabon through licence extensions. “We also generated free cash flow ahead of expectations despite a lower year-on-year realised oil price and demonstrated our ability to access long-term capital through the US$400 million debt facility agreement with Glencore. “In line with our strategy, we are continuing to focus relentlessly on operational excellence, capital efficiency and investments to drive growth. This strategy is delivering material cash flow generation and we are on track to deliver our target of US$800 million free cash flow over the 2023 to 2025 period and optimise our capital structure. “Tullow has a strong and unique foundation to create material value for our investors, host nations and stakeholders and we look to the future with confidence.”     Source: https://energynewsafrica.com

Vitol Close To Buying Exxon, Qatarenergy Stakes In Italy LNG Terminal

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Vitol-backed energy storage company, VTTI, is close to acquiring a majority stake in Italy’s biggest liquefied natural gas import terminal from Exxon Mobil and QatarEnergy, two sources with knowledge of the matter said on Monday. The deal, which sources previously said could value the entire terminal at about 800 million euros ($868 million), would give VTTI a role in the European LNG market at a time when flows of the liquefied gas to Italy are on the rise. Exxon put its 70.68% interest in the Adriatic LNG terminal up for sale last year, as part of a strategy to divest non-core assets. QatarEnergy owns a 22% stake. VTTI and QatarEnergy were not available for comment outside working hours in Europe and the Gulf. Exxon did not immediately respond to a request for comment. Once a deal is signed, Italian gas grid operator Snam, which currently owns a 7.3% in the terminal, will have 45 days to decide whether to exercise its right of first refusal to increase its stake in the project. The chief executive of state-controlled Snam said in January the group could increase its stake in the terminal to as much as 30% under an agreement with the current shareholders, boosting its influence over an asset considered strategic for the country. One of the sources said last-minute surprises to VTTI’s purchase attempt could not be ruled out. The sources declined to be named because they were not authorised to speak publicly about the matter. Investment manager BlackRock  in December bowed out of exclusive talks to acquire the asset, reopening the possibility for VTTI to buy it. The Adriatic LNG terminal is located about 9 miles (15 km) off the Veneto coastline and has a regasification capacity of 9 billion cubic metres of natural gas per year. It is the only Italian LNG terminal that can receive so-called super large-scale LNG vessels with a capacity of up to 217,000 liquid cubic meters.       Source: Reuters.com    

South Africa: Gas Master Plan Completed And Ready For Cabinet Approval- Says Mantashe

South Africa’s Minister for Mineral Resources and Energy Minister Gwede Mantashe says the Department has completed the Gas Master Plan aimed at boosting electricity generation. He was speaking at the Africa Energy Indaba, currently underway at the Cape Town International Convention Centre. The integration of gas will boost electricity supply amid the ongoing load shedding crisis. Mantashe said the department is working on plans to commercialise gas deposits discovered in the country. According to him, the plan will be presented to Cabinet this month. “We are quite serious about energy as a matter of fact. Gas is a critical component of African electricity, given the increase of global energy demand and supply; it is critical for SADC to invest in the petroleum industry to place itself as a key player in the development of these resources,” Mantashe said.       Source: https://energynewsafrica.com