ExxonMobil and Vopak sign a memorandum of understanding for a LNG feasibility study in South Africa
Affiliates of Exxon Mobil Corporation (ExxonMobil) and Royal Vopak (Vopak) have signed a Memorandum of Understanding (MOU) to work together on a feasibility study to assess the commercial, technical and regulatory aspects of an LNG regasification terminal in South Africa, to bring LNG into the country.
ExxonMobil and Vopak plan to evaluate the infrastructure critical for South Africa needed to take advantage of the benefits that LNG can bring to the country, including providing a reliable, cost-effective fuel source, as well as an option for reducing emissions. These benefits can be achieved by repurposing older coal power plants, converting peaking power plants and securing supply for South Africa’s industrial sector.
“ExxonMobil is excited to work with Vopak to evaluate innovative approaches to bring competitive LNG projects to South Africa,” said ExxonMobil LNG Market Development President Irtiza Sayyed. “As a gas industry leader with strategic access to LNG supplies around the world, ExxonMobil is well-positioned to supply cleaner, reliable energy to power South Africa in the future.”
Kees van Seventer, President, Vopak LNG, said, “Our collaboration with ExxonMobil will allow us to leverage our global expertise and experience to develop resilient and efficient LNG infrastructure for South Africa. With our presence of nearly 25 years in South Africa, we are committed to enhance Vopak’s terminal network in the country with sustainable infrastructure solutions.”
Vopak and ExxonMobil have successfully worked together for several decades across the energy sector. With Vopak’s experience as a leading LNG terminal developer and ExxonMobil’s world-class expertise in LNG logistic solutions, the future projects that would come from this study can help ensure the security of South Africa’s gas supply and may have the potential to help improve air quality in South Africa.
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.
About Royal Vopak
Royal Vopak is the world’s leading independent tank storage company. We store vital products with care. With over 400 years of history and a focus on sustainability, we ensure safe, clean and efficient storage and handling of bulk liquid products and gases for our customers. By doing so, we enable the delivery of products that are vital to our economy and daily lives, ranging from chemicals, oils, gases and LNG to biofuels and vegoils. We are determined to develop key infrastructure solutions for the world’s changing energy systems, while simultaneously investing in digitalization and innovation. Vopak is listed on the Euronext Amsterdam and is headquartered in Rotterdam, the Netherlands. For more information, please visit vopak.com.