The Zululand Energy Terminal (ZET) has signed a Heads of Agreement with ExxonMobil South Africa LNG Ltd
The Zululand Energy Terminal (ZET) has signed a Heads of Agreement with ExxonMobil South Africa LNG Ltd, an affiliate of ExxonMobil, as plans progress for the development of a liquefied natural gas (LNG) import terminal at the Port of Richards Bay.
IOL previously reported that billions of rand in investments are set to flow into the Richards Bay region following the announcement that a liquefied natural gas facility will be constructed in the area.
The agreement, announced on Wednesday at BON Hotel Waterfront Richards Bay, is aimed at advancing LNG supply arrangements for the proposed terminal, which is expected to provide import, storage, and regasification infrastructure for power generation and industrial users.
This comes after ZET recently signed a separate Heads of Agreement with Eskom, under which the utility will act as a foundation customer for the planned LNG terminal linked to its 3 000MW gas-to-power programme in Richards Bay.
