Toba Owojaiye Reporting
Abuja, Nigeria
Karpowership, the world’s leading provider of floating gas-fired power plants, is set to increase its generation capacity by 50%, aiming to meet the rising global demand. Despite facing challenges in its potential key market, South Africa, Karpowership remains committed to expansion.
Truth Live News gathered that Riverside LNG, based in Nigeria, is in discussions to supply gas to South Africa, marking a significant potential agreement between the two countries. The company, having previously formed a gas-export partnership with Johannes Schuetze Energy Import AG of Germany, is exploring opportunities across the continent. CEO David Ige highlighted the evolving gas market within a 3,000 nautical mile radius of Nigeria, covering regions from southern Africa to northwest Europe, the Caribbean, and South America.
Details of the talks with South Africa are confidential, but Riverside LNG is also exploring opportunities in Liberia and Cameroon. South Africa, grappling with chronic power outages due to aging and inadequately maintained power stations, faces delays in procuring electricity from private producers.
The country lacks an LNG facility, with deliveries from Riverside LNG’s project anticipated to begin in 2027. Despite South Africa’s heavy reliance on coal for 80% of its power, plans to transition to renewable sources, generating 60 gigawatts by 2030, are underway. A report by BloombergNEF and Bloomberg Philanthropies identifies battery storage and flexible gas plants as cost-efficient solutions to support solar and wind energy growth.
The Southern African Development Community, comprising 16 members, supports a $17 billion natural gas infrastructure plan to enhance energy supplies. This initiative involves investments in pipelines and terminals for both local and imported gas supplies. CEO David Ige sees Nigeria playing a pivotal role as a trading hub, capitalizing on the growing interest in gas among SADC countries.
Karpowership’s proactive expansion and Riverside LNG’s potential gas supply agreement reflect a dynamic shift toward cleaner energy solutions and strategic collaborations in the evolving African energy landscape.