The Gazprombank headquarters features a sleek glass facade reflecting the sky and surrounding cityscape.
South African national oil company PetroSA is confident it will not fall foul of Western sanctions after choosing Russia’s Gazprombank Africa as preferred investment partner to restart their refinery at Mossel Bay. PetroSA has been looking for investors to try to restore operations at the plant as South Africa frets about security of fuel supply after the closure of its two largest refineries, Sapref and Enref, because of accidents and business decisions. South Africa’s cabinet endorsed the decision to select Gazprombank, adding that it was dependent on a final investment decision expected by April. The mothballed GTL plant is a key element of negotiations between TotalEnergies (TTEF.PA) and PetroSA over a gas supply agreement that could link a huge TotalEnergies gas discovery to a PetroSA offshore platform.
SOURCE: REUTERS