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South Africa: SacOil signs gas distribution EoI

South Africa’s SacOil on 19 February signed an expression of interest (EoI) with the Instituto de Gestão das Participações do Estado (Igepe), which manages investment portfolios and shares on behalf of the government of Mozambique, and South Africa’s Public Investment Corporation (PIC), to investigate gas opportunities relating to the future distribution of gas in southern Africa. The PIC is the largest fund manager in Africa and is wholly owned by the South African government. SacOil’s non-executive chairman is former South African Reserve Bank governor Tito Mboweni, and its shares are listed on the Johannesburg Stock Exchange and London’s Alternative Investment Market.

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