en.Wedoany.com Reported - ExxonMobil has signed a Heads of Agreement (HoA) with Zululand Energy Terminal (ZET) to jointly develop South Africa's first liquefied natural gas (LNG) import terminal in Richards Bay, addressing the country's impending natural gas supply shortage by 2030 and supporting the diversification of its energy mix.

Currently, South Africa's natural gas supply from Mozambique's Pande-Temane field is steadily declining, with a severe "gas cliff" expected by 2030, posing risks to power generation, industrial activity, employment, and economic growth. The terminal will provide new import sources and supporting infrastructure.

ZET, a joint venture between Vopak Terminal Durban and Transnet Pipelines, is South Africa's first planned LNG import facility, with capabilities for LNG import, storage, regasification, and distribution, supplying gas to power generation and industrial users. Once operational, the project will enhance South Africa's energy security, drive the development of the natural gas market, boost industrial competitiveness, and achieve a balanced transition in synergy with renewable energy.

ZET Director Oliver Naidu stated that ExxonMobil's participation reinforces the strategic importance of Richards Bay as an LNG gateway. Transnet Group CEO Michelle Phillips noted that Transnet's support for the terminal through its pipeline division helps enhance South Africa's long-term energy security and industrial competitiveness. Andrew Barry, Chairman of ExxonMobil LNG Market Development Inc., said the agreement reflects ExxonMobil's global LNG expertise and commitment to reliable supply for South Africa. ZET Chairman Maarten Smeets concluded that the HoA lays the foundation for developing the terminal with one of the world's largest energy companies, enabling South Africa to access the global LNG market and secure affordable, reliable supply.

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