Masdar, the clean energy powerhouse of the United Arab Emirates, and EDF have signed an agreement with the Ministry of Energy of the Kyrgyz Republic to explore the development of hydropower and renewable energy projects with a combined capacity of up to 3.6 gigawatts (GW). Signed at COP28 in Dubai, the agreement strengthens existing ties between the United Arab Emirates and Kyrgyzstan, and marks Masdar’s entry into the hydropower sector.
The Role and Importance of Natref
Located in Sasolburg (Free State, South Africa), the Natref refinery has a capacity of 108,500 barrels of oil per day. It mainly supplies the South African domestic market in the Johannesburg area, and is operated by a joint venture between Sasol (63.64%) and TotalEnergies Marketing South Africa.
Alignment with TotalEnergies’ Strategy
“The transaction is in line with the company’s strategy of focusing on its large integrated fuels and petrochemicals platforms and divesting its non-core assets,” commented Jean-Pierre Sbraire, CFO of TotalEnergies. This approach reflects TotalEnergies’ strategic focus on optimizing its business portfolio.
TotalEnergies’ presence and ongoing commitment in South Africa
Present in South Africa for almost seventy years, TotalEnergies produces and markets a wide range of energies, including fuels, biofuels, natural and green gases, renewable energies and electricity. The company remains committed to its operations in South Africa, affirming its role in the country’s energy sector.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gas, renewable energies and electricity. With over 100,000 employees, TotalEnergies is committed to making energy ever more affordable, sustainable, reliable and accessible to as many people as possible. Active in nearly 130 countries, TotalEnergies places sustainable development in all its dimensions at the heart of its projects and operations to contribute to people’s well-being.
TotalEnergies’ sale of its stake in Natref to the Prax Group is in line with its strategy of refocusing on more integrated and strategic activities, while maintaining its commitment to the South African energy market.
