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IOL News
5 hours ago
- Business
- IOL News
The looming gas crisis that could have serious economic consequences for South Africa
The Portfolio Committee on Electricity and Energy has emphasised the urgent need for coordinated action to address South Africa's looming 'gas cliff" with Saol sharing its plans to use methane-rich gas as a temporary solution until LNG becomes available. Image: Supplied The Portfolio Committee on Electricity and Energy has emphasised the urgent need for coordinated action to address South Africa's looming 'gas cliff' and secure the country's energy future. This comes after the committee was briefed by key industry players and government entities on the expected sharp decline in natural gas supplies from Mozambique's Pande and Temane fields by 2028, which currently provide a significant portion of South Africa's gas needs. IOL previously reported that this gas supply supports more than 13,000 direct jobs and reportedly contributes about 5% to the national GDP and that its continued decline threatens around 70,000 jobs. The committee emphasised the need for 'urgent and coordinated action to mitigate the challenge of the impending 'gas cliff' that faces South Africa.' It also noted that 'time is of the essence' with less than six years to implement necessary measures before the gas cliff materialises. "The looming supply shortage poses serious risks to the country's energy security, industrial output, and broader economic competitiveness," Committee Chairperson Nonkosi Mvana said. Electricity and Energy Minister Kgosientsho Ramokgopa has also previously warned that the country was heading toward a 'gas cliff,' and failure to act could trigger serious economic consequences. 'The gas cliff is not a distant event. It is imminent. But it is not inevitable. We have the analytical tools, institutional memory and public-private platforms to act," Ramokgopa said Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading The Central Energy Fund (CEF) also outlined its plans to secure long-term buyers for liquefied natural gas (LNG) imports. They explained how they aim to fund these expensive projects without increasing the national debt. SASOL shared its plans to use methane-rich gas as a temporary solution until LNG becomes available. Meanwhile, the Industrial Gas Users Association stressed the urgency of the situation, saying there is only a six to nine-month window to take necessary actions to avoid the 'gas cliff. The organisation "proposed the creation of a gas aggregator model and public-private partnership structures to facilitate infrastructure development and unlock private sector investment". IOL Business Get your news on the go, click here to join the IOL News WhatsApp channel
The South African
05-05-2025
- Business
- The South African
8-hour power outage to affect parts of Johannesburg
A planned power outage is set to affect 8 suburbs in Johannesburg on Tuesday, 6 May 2025 and Thursday, 8 May 2025. The power outage is due to maintenance work on the power utility's electricity network. 'The interruption is necessary to do essential maintenance work on our network, which is part of our program of constantly striving to provide a better service,' the statement read. These are the suburbs that will be affected by the power outage on Tuesday, 6 May 2025 from 8:00 to 16:00: Far East Bank Far East Bank Ext.1 On Thursday, 8 May 2025, from 8:00 to 16:00, these are the suburbs affected: Bramley View Ext. 6 Kew Far East Bank Ext. 1 On Thursday, 8 May 2025, from 9:00 to 17:00, these are the suburbs affected: Rabie Ridge Ext. 1, 2 and 3 BP Garage Police Station The Portfolio Committee on Electricity and Energy has urged the Minister of Electricity, Dr Kgosientsho David Ramokgopa, to review the electricity pricing policy due to electricity tariff increases. As reported by SABC News , Eskom's electricity tariff increased to 12,74% by 1 April 2025. Additionally, the municipal purchase will also increase by 11.35% in July. Committee Chairperson Nonkosi Mvana says that the minister should review the pricing policy, considering the country's electricity dynamics. 'Given the problem of affordability of electricity in the country, the committee called the Minister of Electricity to review the electricity pricing policy to reflect the country's dynamics within the electricity in SA,' said Mvana. Let us know by leaving a comment below or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X, and Bluesky for the latest news.
