The secret agreement also promised Karadeniz a slice of a new R13.6 billion gas terminal in the port of Ngqura – an arrangement described as "State Capture on steroids". 'State Capture on steroids'The reason Ngcukaitobi referred to the Karadeniz’ draft MOU as "State Capture on steroids" was that Mokgokong appeared to be offering to "exchange a state asset", i.e. a stake in SFF's planned LNG terminal in Ngqura, "for a private interest", i.e. But the caveat in Mbalula’s Section 79 now means that Karpowership will now be forced to source gas from Tamasa’s onshore LNG terminal. The LNG terminal, which will feed Karpowership's project, could eventually be supplied with gas from the Paddavissie offshore gas field being developed by TotalEnergies.

Source: News 24 October 06, 2023 04:32 UTC