Still, trading houses look for price volatility for profit, and Stephan Burger, vice-president of MOGS, said crude’s recent swings have raised interest in the new tanks. However, the business model “doesn’t rely on volatility of the crude-oil price,” he said.
A liquid petroleum gas (LPG) terminal and import infrastructure is being constructed by energy infrastructure company Sunrise Energy in Saldanha Bay, in the Western Cape, to curb historical LPG shortages and meet potential future requirements for gas-fired power plants and other industrial energy requirements. The project, valued at R1.2-billion, is being developed in partnership with Sunrise Energy’s major shareholders, oil and gas infrastructure company Mining, Oil & Gas Services (MOGS), the Industrial Development Corporation and Illitha Group Holdings. Mogs is a subsidiary of Royal Bafokeng Holdings (RBH).