CEF welcomes access to Durban Island View Terminal afforded by Minister
The State-owned Central Energy Fund (CEF) has welcomed the announcement by Transport Minister Barbara Creecy relating to the strategic allocation of 15% access to the Durban Island View Terminal.
The move aims to advance transformation in the energy sector and pave the way for the reinstatement of the Sapref refinery, which is now owned by the South African National Petroleum Company.
The CEF will be guaranteed access to existing terminal infrastructure which was historically granted only to international and local oil companies, within port limits, including marine and landside infrastructure for landing, exporting and evacuating cargoes.
The CEF, as the agency mandated with the security of energy supply in the country, views increased access developments at ports as critical milestones to advance the national agenda in ensuring energy security, drive inclusive economic participation and revitalise South Africa’s refining capacity.
“Creecy’s proactive approach and leadership in enabling access to key energy infrastructure for historically disadvantaged entities reflects a strong commitment to the principle of equitable growth and sustainable transformation in the energy sector,” the State-owned entity states.
The CEF is confident that this allocation, combined with its own planned investment and growth strategy in the energy value chain, will go a long way in reviving the Sapref operation and reduce the country’s reliance on imported petroleum products.
The CEF announced in May 2024 its acquisition of the Sapref operation in Durban for just R1, which would release prior owners bp and Shell from any responsibility for the refinery’s liabilities. The refinery stopped operations in 2022.
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