Natural Gas

Sasol launches $5m CNG fund with Mozambique’s National Investment Bank (BNI)

On May 6th, Sasol signed an agreement with Mozambique's Energy Ministry and BNI to set up a $5m CNG fund in the country.

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To support gas monetization in Mozambique, Sasol has signed today an agreement with the country’s National Investment Bank (BNI) and the Ministry of Mineral Resources and Energy to set up a $5m fund for the development and expansion of compressed natural gas (CNG) projects.

The fund will be financed by Sasol and managed by BNI and open to any individuals or SMEs seeking to convert to gas.

“The CNG Credit Line offers special conditions for those interested in converting their vehicles to natural gas, and for retailers wishing to equip their fuel stations with CNG refuelling units,” Sasol said.

Sasol is notably expecting the credit line to benefit public transport operators seeking to decrease their reliance on diesel at a time when soaring global prices put pressure on net importers like Mozambique.

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AG&P delivers world’s first modular FSRU in Senegal

GAS Entec, a subsidiary of Singapore-based Atlantic Gulf & Pacific International (AG&P) has completed the conversion of a 125,000 m3 LNG carrier for KARMOL, the joint-venture of Turkey’s Karpowership and Japan’s Mitsui OSK Lines. The converted 84 MMscf/d modular floating storage and regasification unit (M-FSRU) is a first in the world and will be delivering LNG to the 236 MW Karadeniz Powership Aysegul Sultan in the Port of Dakar. “Gas Entec’s proprietary, patented RegasTainer® technology offers flexibility to scale the capacity of the FSRU up and down from 15 to 300 mmscfd with minimized downtime, allowing the vessel to be repurposed as power requirements grow in a market,” AG&P said in a statement today. Karpowership’s Ayşegül Sultan power barge was relocated offshore Dakar from Ghana in 2019. It has run on heavy fuel oil (HFO) until the arrival of the KARMOL LNGT Powership Africa FSRU in 2021, and currently represents 15% of Senegal’s electricity supply. In 2021, the Mauritius Commercial Bank (MCB) announced a $140m syndicated project finance facility to convert the facility to natural gas.

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