Australia’s Kinetiko Energy is debating listing on a secondary stock exchange in either London or Johannesburg in order to secure additional funds for its LNG development plans in South Africa, CEO Nick de Blocq told The Africa Report on August 28.

Currently, Kinetiko is only listed on the Australian Securities Exchange (ASX) in Sydney. However, after announcing plans on August 22 to develop Block 270 and Block 271 in South Africa’s eastern Mpumalanga Province, the company is now mulling over listing on another stock exchange to help fund the project, which could be developed in multiple stages as South Africa’s largest onshore LNG project.

Kinetiko has already executed a non-binding term sheet through its 49%-owned subsidiary Afro Energy with the government-owned Industrial Development Corporation of South Africa (IDC) to co-develop a new joint venture (JV) for the initial appraisal and production of LNG to deliver 50 MW of gas equivalent energy.

This initial stage is expected to come at a price tag of about $89mn, split between $58mn in equity and $31mn debt. The parties are seeking to have the first block of 50 MW completed in two to three years.

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