South African Shale Gas Opportunities Advance

By mahlokoane percy ngwato

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The South African government will soon be issuing licences for shale gas exploration using fracking, President Jacob Zuma announced.

He said: "It is this government's hope that we will find practical opportunities to enhance the economic opportunities the shale gas sector has to present,"

America's Energy Information Administration (EIA) has estimated that South Africa could have shale gas reserves of around 485 trillion cubic feet.

Zuma said: "We continue to pursue the development of an energy mix as energy security is critical to economic growth and social development. We are also determined to see through much needed infrastructure development programmes at continental level which will integrate African economies.”

RELATED: Falcon Oil and Gas set to explore South African shale opportunities

Environmentalists have expressed strong opposition to the government's move to explore shale gas. The Treasure Karoo Action Group (TKAG) says global shale gas reserves have been over estimated. 

In order to address these concerns, the cabinet has established a taskforce to address concerns which include environmental impact on ecosystems, waste management and water.

SOURCE: [Global Post]

Read the August Issue of African Business Review. 

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