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South Africa and Mozambique Increase Shareholding in ROMPCO Gas Pipeline

South Africa and Mozambique Increase Shareholding in ROMPCO Gas Pipeline
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SA and Mozambican state companies to shell out R4 1bn for part of Sasol s stake in gas pipeline

The Rompco pipeline that transports natural gas from Mozambique to South Africa. Picture: File The gas subsidiaries of South Africa and Mozambique’s state energy companies, which together with Sasol own a 865km gas pipeline running between the countries, are exercising their right to buy 30% of the petrochemical company’s stake in the project. The move will leave the South African Gas Development Company (iGas), a subsidiary of the Central Energy Fund (CEF), and the Companhia Mocambiçana de Gasoduto (CMG), a subsidiary of the Empresa Nacional de Hidrocarbonetos (ENH), with a majority stake in the Republic of Mozambique Pipeline Company (Rompco). The 30% stake was valued at R4.1 billion.

Sasol Concludes Sale And Purchase Agreement To Sell 30% Interest In ROMPCO Pipeline

Sasol Concludes Sale And Purchase Agreement To Sell 30% Interest In ROMPCO Pipeline Sasol South Africa (SSA), a major subsidiary of Sasol, has concluded a sale and purchase agreement (SPA), to sell a 30% equity interest in the Republic of Mozambique Pipeline Company (ROMPCO), subject to pre-emptive rights by other shareholders. ROMPCO is a joint venture between SSA (50%), Companhia Mocambiçana de Gasoduto S.A. S.A.R.L (CMG) (25%) and South African Gas Development Company (SOC) Limited (iGas) (25%). The joint venture owns the 865 kilometre gas transmission pipeline from Mozambique to South Africa. SSA has agreed to sell the 30% interest in ROMPCO to an acquisition vehicle beneficially owned by a consortium comprising Reatile Group Proprietary Limited and the IDEAS Fund, managed by African Infrastructure Investment Managers Proprietary Limited.

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