CENTRAL ENERGY FUND
The Central Energy Fund is a state owned company under the Department of Mineral Resources and Energy, responsible for five subsidiaries. It operates across the entire energy sector value chain to contribute to the security of energy supply for South Africa. The CEF’s mission is to grow its footprint in the energy sector, and to be the catalyst for economic growth and energy poverty alleviation through security of supply and access to acceptable energy in Africa. Established in the 1950s, it has played a central role in ensuring South Africa’s energy security supply, and making a significant contribution into the South African economy.
Its subsidiaries include: South Africa’s National Oil Company (PetroSA), the Petroleum Agency SA (PASA), the South African Gas Development Company (iGas), African Exploration Mining and Finance Corporation (AEMFC), the Strategic Fuel Fund (SFF) and the Energy Projects Division (EPD).
- Petrol SA is the National Company (NOC) of South Africa. Its core activities are the exploration development and production of oil and gas and the production of synthetic fuels from gas. It has operations in South Africa, Ghana and Netherlands.
- iGas develops gas and gas infrastructure through active investment in the provision of gas molecules and gas infrastructure. It is a key investor in Rompco, the commercial operator of the 865km high-pressure gas pipeline connecting the onshore gas fields in Mozambique to South Africa.
- The Strategic Fuel Fund is responsible for acquiring, maintaining and trading strategic fuel stocks in order to ensure the country’s supply of hydrocarbons. Its core assets include steel storage facilities in Mpumalanga and the Western Cape capable of storing more than fifty million barrels of fuel.
- The African Exploration Mining and Financing Corporation is responsible for the mining and supply of coal for the generation of electricity. It is focussing on key minerals that will provide energy for the future. It supplies in excess of 1,5 million tons of coal per year.
- As demand for cleaner, more sustainable energy supplies increases, CEF’s Energy Projects Division is responsible for the commercialization of new energy technologies. It has a range of projects in development including the Redstone Solar Thermal Power plant. It is the first such project with molten salt energy storage in Africa.
- CEF through its regulatory subsidiary, Petroleum Agency of South Africa promotes and regulates oil and gas exploration and production in South Africa. It is responsible for evaluating our oil and gas resources, attracting explorers in the oil and gas sector, monitoring their exploration and production activities, and archiving data produced from these activities.
Through its Vision 2040 Plus, the CEF Group will diversify its energy portfolio by improving the value proposition, strengthening commercial viability as we work beyond the security of energy supply….re-igniting SA economy.