Oct 11 - PetroSA Looking to Secure Gas Supplies

(Business Day) PetroSA is looking to secure gas supplies for its Mossel Bay gas-to-liquids plant based in Cape Town, hence the spate of memorandums of understanding signed by the company, it was revealed on Friday.

Last week alone, PetroSA sealed memorandums of understanding with New York Stock Exchange-listed General Electric, oil trading company China United International Petroleum & Company , and Sinopec Group, China’s state- owned petroleum and petrochemical enterprise.

 PetroSA has recently signed memorandums of understanding with  Korea National Oil Corporation and Italian oil company Eni.

PetroSA said the agreements would help its growth plans and were part of its strategy "to sustain the Mossel Bay gas-to-liquids refinery and use it as a platform for further organisational growth".

It said it aimed to become a "significant player" in SA and the region, "to ensure security of liquid fuels supply for the country and to contribute to economic growth, job creation and transformation".

PetroSA has said the Mossel Bay refinery is running out of gas supplies.

 Refined petroleum products from the Mossel Bay refinery are sold through the retail network of various oil companies. Moving into that market is in line with the company’s strategy to be an integrated oil company by 2020.