The National Assembly has passed the Upstream Petroleum Resources Development Bill, which will create yet another state-owned company.
This split will also create a new regulatory environment for South Africa’s gas industry, which has been touted as a crucial “transition” energy source.
“Methane is a potent greenhouse gas. Over a 20-year period, it has an 84 times higher global warming potential than carbon dioxide,” he said. He added that South African communities are unlikely to see any major economic benefits while major gas and mining companies make massive profits. South Africans will also carry the health risks – such as increased mortality and morbidity – and economic consequences from extraction.
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