Gazprombank and the Mossel Bay Refinery: A Partnership's Failure
Description
We discuss the troubled partnership between PetroSA, owner of the Mossel Bay Gas-to-Liquids refinery in South Africa, and Gazprombank Africa, a subsidiary of the sanctioned Russian bank. PetroSA's selection of Gazprombank following a controversial bidding process, where many competitors were disqualified, led to delays in promised funding for the refinery's revival. Subsequent sanctions imposed on Gazprombank Africa further complicated matters, jeopardizing the project and highlighting concerns about transparency and governance. The situation underscores the risks of international collaborations, especially in the energy sector, and the importance of robust due diligence. Ultimately, the partnership's failure threatens the refinery's future and South Africa's energy security ambitions.
United States
