Proposed layout of the Zululand Energy Terminal.
The multibillion-rand gas projects earmarked for the Richards Bay area are set to transform the province and ensure its energy security. This is according to experts who said that KwaZulu-Natal is one of the most energy-insecure provinces in the country, as a large part of its energy sources come from other provinces. However, this is likely to change once the planned projects are implemented.
The experts made these revelations at their meeting in Durban to discuss the plans for the Zululand Energy Terminal (ZET) project and secondary work earmarked for the Richards Bay area.
The total investment of the project, encompassing all the work, including infrastructure and power stations, is estimated to be close to R 100 billion. They stated that the energy landscape in KwaZulu-Natal is evolving rapidly, creating new opportunities for businesses across multiple sectors.
Standard Bank hosted an exclusive breakfast session yesterday where key energy stakeholders unpacked the Sub-Saharan Africa gas opportunity, explored the impact of emerging developments in Richards Bay and Mozambique, and discussed how businesses can position themselves to benefit from this evolving market. Standard Bank acts as an advisor to the ZET consortium and continues to play a key role in supporting the growth of South Africa's energy sector.
