Exxon Mobil is reported to have reached a preliminary agreement to supply liquefied natural gas (LNG) to South Africa, with the aim of supporting the country’s coal-reliant electricity system. According to people familiar with the matter cited by Bloomberg, the deal is intended to provide LNG that South Africa can use as an additional power fuel source, reducing reliance on coal in its power generation mix. The reports describe the arrangement as preliminary, indicating that details and final terms have not been confirmed publicly. Neither the companies involved nor South African authorities are specified in the provided account, and no information is included here on delivery timelines, volumes, pricing, or the specific power plants that would receive the fuel. The proposal fits into broader efforts to diversify energy supply and potentially lower coal dependence in the domestic power sector. The only additional source reference provided (Seeking Alpha) points to the same Bloomberg story, without adding new confirmed details.
Exxon Mobil in preliminary LNG deal to help South Africa cut coal use
Exxon Mobil is reported to have reached a preliminary agreement to supply liquefied natural gas (LNG) to South Africa, with the aim of supporting the country’s coal-reliant electricity system. Accordi...
- Exxon Mobil is reported to have a preliminary LNG supply agreement involving South Africa.
- South Africa plans to use the LNG to support its electricity system and reduce coal reliance.
- The reports cite people familiar with the matter; the arrangement is described as preliminary.
- Public details on volumes, timing, and pricing are not provided in the accounts shared here.
Exxon Mobil Corp. struck a preliminary deal to bring liquefied natural gas to South Africa, which will use the fuel to bolster its coal-reliant power grid, according to people familiar with the matter.
9 hours agoSequoia’s Luciana Lixandru says Europe needs a ‘second act’ for tech growth
In an interview for the Financial Times’ “Tech Exchange” series, Luciana Lixandru, global co-lead of Sequoia’s early-sta...
India’s gems and jewellery exports fall 2.49% in May
India’s exports of gems and jewellery decline 2.49% in May, according to reports citing trade data. The drop is attribut...
ASX edges higher as miners gain on easing oil prices and inflation outlook
Australian shares move slightly higher, with the mining sector providing lift as markets react to easing oil prices and...