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SA to grant new onshore gas licences

Mar 08 2011 14:04 Reuters

Company Data

Sasol Limited [JSE:SOL]

Last traded 631.04
Change 5.13
% Change 0.01
Cumulative volume 933885
Market cap 410.59bn

Last Updated: 19/09/2014 at 04:26. Prices are delayed by 15 minutes. Source: McGregor BFA

ANGLO AMERICAN PLC [JSE:AGL]

Last traded 267.06
Change -1.19
% Change 0.00
Cumulative volume 2873962
Market cap 375.34bn

Last Updated: 19/09/2014 at 04:26. Prices are delayed by 15 minutes. Source: McGregor BFA

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Cape Town - South Africa expects to hold up to four onshore licensing rounds before the end of 2012 as interest grows for shale gas in the southern Karoo region despite opposition, a senior official said on Tuesday.

Farmers fear methods used to extract shale gas in the semi-arid Karoo will contaminate water and harm the environment as South Africa, which is a net oil importer, strives to reduce its dependence by opening up new areas of exploration for alternative energy sources.

Oil major Royal Dutch Shell, Anglo American [JSE:AGL], petrochemicals group Sasol [JSE:SOL] and Chesapeake Energy are among those eyeing the Karoo, which may hold substantial deposits of gas in shale.

"We envisage a number of licensing rounds which will take place between now and the end of next year," Mthozami Xiphu, chief executive of Petroleum Agency South Africa, which regulates exploration, told Reuters.

"We should have about three or four onshore licensing rounds starting from the second half of this year." 
anglo american  |  sasol  |  petrosa  |  karoo  |  gas exploration
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