Belt and Road Summit 2025- Deal-making

10–16 Sept 2025 | China (Hong Kong)

ProjectUpdated on 28 August 2025

Port of Richards Bay LNG Import Terminal

recado Andrews

Director Invest SA at Department of Trade and Industry and Competition South Africa

Pretoria, South Africa

About

The Gas Masterplan Base Case Report (2022) and draft of 2024 identifies the South African ports as a key engine in the gas masterplan for the country. In response to the current electricity and energy mix challenges facing South Africa, Transnet National Ports Authority (TNPA), has embarked on a strong strategic position “as an enabler” of securing and supplying Liquified Natural Gas to the Port of Richards Bay (KwaZulu-Natal). This project provides feasible and sufficient opportunities for the gas to power industry to implement the Department of Mineral Resources and Energy’s (DMRE) plans of alleviating the electricity generation limitation.

Section 11 of the National Ports Act No. 12 of 2005 (the Act) details the functions of the Authority (TNPA) which includes the provision of basic port infrastructure such as berths and bulk services. Based on the technical study done by Transnet with respect to the suitable location of LNG import terminals in South Africa, the Port of Richards Bay was amongst the three ports that were identified for LNG importation.

The appointed Section 56 Concessionaire (Vopak/TPL) has indicated a strong demand of 2 million tons per annum from 2027 and potential to scale-up to over 5 million tons per annum from 2032-35.

The current solution (LNG Terminal) being proposed for TNPA Port of Richards Bay, is also supported by the LNG demand forecast of 2.2 million tonnes per annum (Mtpa) in the short term (2027), scaling to between 4.0 and 6.0 Mtpa in the long term (2042), in South Africa. A Baseline Market Demand Study (BMDS) was subsequently undertaken (Mott MacDonald, 2019) to develop an initial estimate of the aggregate market demand.

Project Location

  • South Africa

Project Format

  • Public-Private Partnership Project

ESG (Environmental, Social, and Governance)

  • Yes

Project Stage

  • Feasibility Study Completed

Main Project Sector

  • Transport and Logistics Infrastructure

Energy and Natural Resources

  • Oil & Gas

Transport and Logistics

  • Ports And Waterways

Other Sector(s)

Logistics

Total Project Value

  • 50,000,001 USD or above

Investment Capital Required

  • 50,000,001 USD or above

Interested Format of Cooperation

  • Public–private partnership / Concession

Preferred Financing Model

  • Debt
  • Equity

Previous Funding Stage

  • None

Main Service(s) Required

  • Financial Services

Financial Services

  • Private Equity & Venture Capital

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