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Yahoo
2 days ago
- Business
- Yahoo
South Africa Proposes 10-Year Purchase Deal For U.S. LNG
South Africa has proposed to buy liquefied natural gas (LNG) from the United States over a 10-year period as the country looks to secure a trade deal with the Trump administration, a ministerial statement by the South African government has revealed. South Africa plans to import 75 to 100 million cubic metres of LNG per year from the U.S., the world's top LNG exporter. According to Khumbudzo Ntshavheni, South Africa's Minister in the Presidency, the deal would 'unlock approximately $900 million to $1.2 billion in trade per annum and $9 billion – $12 billion for 10 years based on applicable price.' According to Ntshavheni, U.S. LNG will not replace South Africa's current supplies but rather complement them. Ntshavheni, South Africa's cabinet spokesperson, said her country would also explore areas of cooperation with the U.S. in various technologies, including fracking, to help unlock the country's gas sector. South Africa's Karoo region holds significant gas reserves, however, the country has a moratorium on shale gas exploration over environmental grounds. The proposed trade package also includes a quota of 40,000 vehicles per year to be exported duty-free from South Africa; duty-free supplies of automotive components sourced from South Africa; 385 million kilograms of duty-free steel per year and 132 million kg of duty-free aluminium per year. South Africa's President Cyril Ramaphosa is credited with proposing the LNG deal during his visit to the White House a week ago, when U.S. President Donald Trump blamed him for 'genocide' against white farmers and controversial government policies, such as black economic empowerment and land reforms. Ramaphosa had hoped to use the meeting to mend fences with the Trump administration after Trump cancelled aid to South Africa, accusing the government of committing 'egregious actions.' South Africa-born billionaire and a Trump super-ally, Elon Musk, has condemned the South African leadership for supporting 'openly racist policies.'Musk is considered to be a big reason behind the animosity towards South Africa by the Trump administration, where white South Africans disproportionately control most of the country's land and wealth despite constituting just 7% of the population. Back in March, Marco Rubio, U.S. secretary of state, declared South Africa's ambassador to the U.S., Ebrahim Rasool, persona non grata and expelled him from the country. The administration has criticised South Africa's genocide court case against Israel. South Africa currently imports most of its gas from Mozambique via pipeline, with Mozambique's $20 billion natural gas and LNG project facing repeated delays. The project was halted in 2021 due to violence in the Cabo Delgado region, specifically an attack by Islamic State-linked militants. TotalEnergies (NYSE:TTE) is currently seeking approval from the Mozambican government to lift a force majeure declaration on the project, and hopes to start production by 2029. Total is the project's main operator with a 26.5% stake, followed by Japan's Mitsui & Co with 20%, while Mozambique's state-owned ENH owns a 15% stake. Despite the violence, the project is viewed as crucial for the region's economy and Mozambique's economy, with the Southern African country projected to earn US$23 billion from the Coral Norte project over three decades. The LNG plant will liquefy 13.12 million metric tons of natural gas per year (tpy). Whereas 18 African countries produce some natural gas, Algeria, Egypt, and Nigeria account for nearly 90% of all gas produced on the continent. Nigeria has the continent's largest gas reserves at 206.5 trillion cubic feet. The oil and gas sector in Africa's most populous country is responsible for 95% of the country's foreign exchange earnings and 20% of GDP. Source: LNG Industry Currently, Africa has several big LNG projects in progress or awaiting FID (Final Investment Decision). These include Rovuma LNG, Coral North FLNG, Mozambique LNG, and Tanzania LNG. These four projects will be instrumental in ramping up the continent's LNG export capacity over the next decade. The Coral South FLNG is a floating liquefied natural gas (FLNG) facility located offshore Mozambique, specifically in the southern part of Area 4 of the Rovuma Basin. It is designed to process 450 billion cubic meters of natural gas from the Coral reservoir, liquefying 3.4 million metric tons annually for export. The facility is the first FLNG deployed in deep waters on the African continent. Meanwhile, Rovuma LNG is a 12-train project with a total capacity of 18 million tpy; Mozambique LNG has a total export capacity of 43 million tpy while Tanzania LNG will provide 10 million tpy worth of capacity. By Alex Kimani for More Top Reads From this article on
Calgary Herald
20-05-2025
- Business
- Calgary Herald
TotalEnergies signs deal to buy LNG from project in B.C.
TotalEnergies SE reached a 20-year deal to buy liquefied natural gas from an export terminal being developed in Western Canada, bolstering the French energy major's global portfolio of the fuel. Article content Article content The agreement calls for Total to purchase 2 million metric tons a year from the Ksi Lisims project in British Columbia, proposed by Western LNG, according to a statement Monday. Article content Article content Canada is pushing to become a major supplier of LNG as data centers and artificial intelligence drive up demand for electricity, nations shift away from dirtier fuels and Europe looks for alternatives to Russian gas. Article content Article content The Ksi Lisims project is backed by Houston-based Western LNG, the indigenous group Nisga'a Nation and a consortium of Canadian gas producers known as Rockies LNG, which include Ovintiv Inc. Ksi Lisims is designed to produce 12 million tons of LNG annually. Article content
Yahoo
20-05-2025
- Health
- Yahoo
Chronic Total Occlusion Market Size to Surpass USD 42.21 Billion by 2031, Increasing Prevalence of Cardiovascular Diseases Fuels
The report runs an in-depth analysis of market trends, key players, and future opportunities. The chronic total occlusion market comprises a vast array of products that are expected to register growth in the coming years. US & Canada, May 20, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the chronic total occlusion market is observing significant growth owing to the increasing prevalence of cardiovascular diseases and strategic initiatives by market players. The global Chronic Total Occlusion (CTO) devices market is experiencing significant growth, driven by the rising prevalence of cardiovascular diseases and advancements in minimally invasive procedures. Top key players include Medtronic, Boston Scientific Corporation, Terumo, Abbott, and Philips. North America leads the market, while the Asia-Pacific region is expected to witness the fastest growth due to increasing healthcare investments and an expanding patient explore the valuable insights in the Chronic Total Occlusion Market report, you can easily download a sample PDF of the report - Overview of Report Findings 1. Market Growth: The chronic total occlusion market is expected to reach US$ 42.21 billion by 2031 from US$ 24.46 billion in 2021; it is anticipated to register a CAGR of 8.2% from 2025 to 2031. Chronic total occlusion is a condition in which the coronary artery blockage due to atherosclerosis and the restricted blood flow to the heart can lead to chest pain and heart attacks, leading to various other complications. The increasing prevalence of cardiovascular disorders owing to the increasing aging population and changing lifestyle, along with surging initiatives by market players, contribute to the market growth. 2. Rising Prevalence of Cardiovascular Diseases (CVDs): The rise in CVD patients has increased the demand for advanced treatments such as chronic total occlusions (CTO). This demand has led to a significant increase in the use of percutaneous coronary intervention (PCI) procedures, particularly among aging populations. According to the World Health Organization (WHO), ~30 million people suffer from strokes every year. As per the American Heart Association, there were more than 130 million people (i.e., approximately 45% of the total population) are expected to have some form of CVD by the end of 2035. In Europe, among patients with atrial fibrillation (AF), the most common arrhythmia consumes 0.28-2.6% of healthcare spending among European countries. They are estimated to have five times the risk of having a stroke compared to those who are not affected and 20-30% of total stroke cases in Europe. The number of people aged 65 and above having AF in the EU is expected to increase from 7.6 million in 2016 to approximately 14.4 million by 2060. It is anticipated that the incidence of AF is expected to increase from 7.8% in 2016 to 9.5% by 2060. According to the "Beyond the Burden: The Impact of Atrial Fibrillation in Asia Pacific," Study Published by Biosense Webster, in the Asia Pacific region, the number of individuals suffering from AF is expected to increase from 16 million in 2019 to ~72 million by 2050. The WHO estimates 17.9 million deaths annually from CVDs, which amount to 32 % of total fatalities worldwide. Major risk factors comprise family history, age, ethnicity, lifestyle habits, smoking (aggravating the odds by 25%), poor diet, inactivity, obesity, hypertension, high cholesterol, diabetes, and alcohol consumption. 3. Strategic Initiatives by Companies: Market players focusing on product approvals, collaborations, mergers, partnerships, acquisitions, and product launches, which are expected to help in sales growth, geographic expansion, and improvement in their capacities to cater to a larger customer base. Among the strategic initiatives taken by key players operating in the market are: In June 2024, MiccoRort RotaRace's Intravascular Piezoelectric Guidewire System gained NMPA approval for entry into the special review procedures for innovative medical devices. This system was co-developed by a team led by Academician Junbo Ge from Zhongshan Hospital, Fudan University. In February 2024, BIOTRONIK introduced the Micro Rx catheter, a rapid exchange microcatheter developed to enhance guidewire support during PCI. The Micro Rx catheter is the fourth IMDS product that BIOTRONIK has introduced to the US market, contributing to a strong portfolio of devices, which include the NHancer Rx, JrailT, and ReCross catheters. In October 2022, the FDA approved NovaCross line of microcatheters (NovaCross BTK for below-the-knee treatment along with NovaCross Xtreme and NovaCrass CTO for chronic total occlusion treatment) was among the assets that Miccobot Medical Inc. purchased from Nitiloon Ltd. The NovaCrass devices are designed to make it easier to implant conventional and steerable guidewires intraluminally beyond stenotic lesions, including chronic complete occlusions, prior to percutaneous transluminal coronary angioplasty or stent intervention. In February 2022, Teleflex Incorporated received FDA approval for the expanded indications of its specialty catheters and coronary guidewires, specifically for use in chronic total occlusion percutaneous coronary interventions (CTO PCI). 4. Geographical Insights: In 2023, Asia Pacific led the market with a substantial revenue share, followed by North America and Europe. Asia Pacific is expected to register the highest CAGR during the forecast period. Stay Updated on The Latest Chronic Total Occlusion Market Trends: Market Segmentation Based on equipment, the chronic total occlusion market is segmented into guide wires, microcatheters, crossing devices, re-entry devices, and others. The guide wires segment held the largest share of the market in 2023. By end user, the market is segmented into hospitals, ambulatory care centers, and others. The hospitals segment dominated the market in 2023. The chronic total occlusion market is segmented into five major regions: North America, Europe, APAC, Middle East & Africa, and South & Central America. Competitive Strategy and Development Key Players: Major companies operating in the chronic total occlusion market include Asahi Intecc Co Ltd, Cordis Corp, Integer Holdings Corp, Boston Scientific Corp, Koninklijke Philips NV, Becton Dickinson and Co, SoundBite Medical Solutions, Medtronic Plc, Terumo Corp, and Abbott Laboratories. Trending Topics: Chronic Total Occlusion Devices, Cardiovascular Devices, Coronary Artery Disease, Atherosclerotic Cardiovascular Disease, And Heart DiseasePurchase Premium Copy of Global Chronic Total Occlusion Market Size and Growth Report (2025-2031) at: Conclusion The demand for chronic total occlusion (CTO) is driven by the surging prevalence of coronary artery disease, technological advancements in medical technology, and increasing demand for minimally invasive procedures. CTO, characterized by a complete blockage of coronary arteries, is a significant treatment, driving innovation in diagnostic tools, interventional devices, and therapeutic options. The surging aging population, increasing rates of hypertension, diabetes, and smoking, along with increasing adoption of catheter-based interventions over traditional surgery, contribute to the market growth. Technological advancements, such as improved coronary angioplasty techniques, the development of specialized guidewires, and increasing use of drug-eluting stents, are contributing to better outcomes and reduced risk of restenosis. Additionally, the expansion of hybrid treatment approaches combining surgery and interventional techniques is gaining popularity. The report from The Insight Partners, therefore, provides several stakeholders—including chronic total occlusion device manufacturers, chronic total occlusion device distributors, and others—with valuable insights into how to navigate this evolving market landscape and unlock new to Us Directly: Related Reports: About Us: The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials. Contact Us: If you have any queries about this report or if you would like further information, please contact us: Contact Person: Ankit Mathur E-mail: Phone: +1-646-491-9876 PRESS RELEASE - in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TimesLIVE
20-05-2025
- Business
- TimesLIVE
TotalEnergies CEO aims to lift force majeure on Mozambique LNG project
TotalEnergies will seek Mozambique's approval to lift a force majeure declaration on its $20bn (R361.49bn) liquefied natural gas (LNG) project there and resume construction by mid-summer, chief executive Patrick Pouyanne said on Tuesday. Covered by force majeure since 2021 following insurgent attacks, the project includes development of the Golfinho and Atum natural gas fields in the Offshore Area 1 concession and the building of a two-train liquefaction plant. "The security situation has improved," Pouyanne told Reuters on the sidelines of the World Gas Conference. "It will be up to the government of Mozambique to approve lifting of this force majeure." The plant will have a capacity of 13.12-million metric tons per year (tpy). Total is the operator with a stake of 26.5%, followed by Mitsui & Co with 20%, while Mozambique's state-owned ENH has 15%. Indian state firms and Thailand's PTTEP own the rest. In the Pacific island of Papua New Guinea, the French energy major is also looking at reducing the capital expenditure of its LNG project by 20% to 25%, Pouyanne said. The second major gas project in the impoverished nation, the 5.4-million-metric-tpy Papua LNG is a joint venture of TotalEnergies, Exxon Mobil, Santos and state-owned Kumul Petroleum.
IOL News
14-05-2025
- Business
- IOL News
Capitalising on Namibia's oil and gas boom to ensure sustainability through inclusive growth
The oil and gas industry's greatest promise lies in job creation across the value chain. Image: REUTERS/Abdiqani Hassan Namibia is well positioned for significant growth and transformation. With major oil and gas discoveries in the Orange Basin and a 40-well drilling campaign by Total, with a Final Investment Decision (FID) expected in 2026, the country has a unique opportunity to redefine its economic landscape. To support long-term prosperity, however, it is essential that the right choices are made now. Logistics, construction, catering and other support services have already seen increased activity, and if this is managed wisely, it could have a widespread positive effect on GDP and employment. This will require inclusive planning, policy reform and a commitment to skills development to ensure sustainable economic reform. Investing in skills to foster job creation The oil and gas industry's greatest promise lies in job creation across the value chain. Early momentum has focused on accessible, semi-skilled roles such as entry-level workers and support staff. These jobs are essential, but for long-term sustainability it is vital to also invest in higher-skilled roles such as engineers, drilling managers, and project leaders, and to ensure robust skills transfer takes place. While internships, technical training, and engineering placements are already underway, these must be scaled. Inclusive development means ensuring that opportunities reach all Namibians. The roadshows being conducted by companies like TotalEnergies and Namcor are a step in the right direction. Engaging communities across the regions not only fosters transparency, it ensures local needs are reflected in national strategies. Learning from history to avoid pitfalls The potential for growth as a result of these significant oil and gas discoveries is massive, but history demonstrates that there is a risk of becoming over-reliant. Namibia must learn from the experiences of countries like Nigeria, where weak regulatory oversight led to environmental degradation and lost public trust. Angola also provides a lesson on the dangers of centralised control and the need for local content development. On the positive side, Norway provides a model of how to manage wealth transparently, invest in the future and ensure that the benefits of natural resources are widely shared. There are also environmental risks inherent in the oil and gas sector including carbon emissions and the far-reaching effects of oil spills on marine wildlife. Namibia cannot afford to treat sustainability as a tick-box exercise. Robust monitoring, strict operator accountability, and full environmental integration at every stage of development will be key. The solution lies in building strong, transparent institutions. Regulatory frameworks must balance the need for investment with environmental protection and social impact. They must enforce local employment quotas, set clear environmental standards, and ensure oil revenues are reinvested in long-term development. A springboard for economic transformation The world is increasingly focused on the transition away from fossil fuels, so there is a finite window of opportunity for Namibia to take advantage of oil and gas resources. Investment in human capital and infrastructure must be a priority, and skilled artisans like welders, electricians and riggers need to be upskilled and certified to meet industry standards. Ports must be expanded, and housing shortages in Namibia need urgent attention. In addition, power infrastructure must keep pace with industrial demand. Sustainable economic growth requires revenues to be channelled into infrastructure, healthcare, education, and most importantly, economic diversification. This is already in progress, with renewable energy projects, including green hydrogen initiatives, underway and more in the pipeline. Tourism, agriculture and manufacturing are also seeing renewed interest. These sectors must be nurtured as the demand for fossil fuels falls away in future generations. Learning from history and investing strategically will serve not only the oil and gas sector, but the broader economy. With the right regulations in place, as well as inclusive policies, and investments aimed at developing a resilient, diversified economy, Namibia can build an industry that doesn't just create wealth, it uplifts the nation. Julien Karambua, Country Manager at Workforce Staffing Namibia. Julien Karambua, Country Manager at Workforce Staffing Namibia Image: Supplied. BUSINESS REPORT Visit:
