Tycoon Anna Mokgokong's Tamasa signs $1.35 billion LNG deal to transform the Eastern Cape's energy landscape

Professor Anna Mokgokong's Tamasa Energy Group has signed a landmark 25-year terminal operator agreement with Transnet National Ports Authority to develop a $1.35 billion liquefied natural gas regasification facility at the Port of Ngqura in South Africa's Eastern Cape, in one of the most significant energy infrastructure deals concluded by a Black South African businesswoman.

The project, valued at approximately R22 billion ($1.35 billion at the current exchange rate of R16.30 to the dollar), will see the construction and operation of an onshore LNG regasification facility at the deepwater Port of Ngqura. It has been designated a national Strategic Integrated Project by the South African government, the highest infrastructure priority classification available, placing it alongside other nationally critical projects in the government's infrastructure pipeline.

Mokgokong, speaking on behalf of Ukwanda LNG at the signing ceremony held on May 28, framed the moment in terms that went well beyond project logistics. "The signing of this agreement is more than a procedural step; it reflects long-term conviction, disciplined effort and a shared belief in the strategic value of this project for South Africa's energy future, logistics capability and economic development," she said. She described the Eastern Cape implications directly: "This project represents infrastructure that can unlock jobs, skills development, local participation and renewed economic momentum, while supporting energy security and South Africa's broader transition to a more diversified, lower-carbon energy mix."

Ukwanda LNG is a joint venture between Tamasa Energy Group and South Africa's Strategic Fuel Fund. The facility is designed to support up to 3,500 megawatts of gas-to-power capacity within and around the Coega Special Economic Zone, directly adjacent to the Port of Ngqura. South Africa is pursuing a 6,000-megawatt gas-to-power programme as part of its Just Energy Transition, using natural gas as a transitional fuel to replace ageing coal-fired generation while renewable capacity is built out. The Ngqura LNG terminal would serve as critical fuel infrastructure for the 3,000-megawatt gas-to-power allocation within that programme, providing lower-carbon baseload electricity to complement the growing renewable energy mix.

Transnet will construct a dedicated LNG berth valued at R2 billion ($122.7 million) as part of the broader agreement. The onshore regasification facility will be built in parallel by Ukwanda LNG over a construction period of approximately 36 months. Full operations are targeted for 2035. The project is expected to create more than 500 jobs during the construction phase and 50 permanent positions once operational.

Transnet Group Chief Executive Michelle Phillips described the agreement as a profound shift in how South Africa uses its commercial ports to support national energy security. Transport Minister Barbara Creecy was present at the signing ceremony alongside Eastern Cape Finance MEC Mlungisi Mvoko, who said the proceedings represented a bold statement of confidence in the future of the Eastern Cape provincial economy.

The strategic backdrop Mokgokong highlighted at the ceremony adds urgency to the timeline. Existing gas supplies to South Africa from Mozambique through the Rompco pipeline face projected decline over the coming years, creating what energy planners have described as a looming gas cliff in domestic supply. At the same time, the global LNG market has become increasingly constrained and volatile. Disruptions around the Strait of Hormuz have demonstrated that LNG access can become contested during periods of geopolitical instability. The Ngqura facility, developed with the Strategic Fuel Fund as co-partner, is designed to provide a more resilient and sovereign-aligned supply chain for the country's gas-to-power ambitions.

Global commodity trading giant Vitol is separately backing a $3 billion LNG terminal project in Durban, while Dutch firm Vopak has pushed back a final investment decision on a separate South African LNG terminal project to 2028. The Ngqura agreement makes Ukwanda LNG and Tamasa Energy Group the first to reach a signed terminal operator agreement with Transnet, giving the project a meaningful head start in South Africa's rapidly developing LNG infrastructure landscape.

Anna Mokgokong is the executive chairperson of Community Investment Holdings, one of the largest Black-owned investment groups in South Africa, and chairs Tamasa Energy Group among a portfolio of commercial board positions. She serves on the boards of multiple JSE-listed companies and has been a consistent voice in South African business leadership circles for more than two decades. The Ngqura LNG agreement is the largest single infrastructure project bearing her name.