TotalEnergies recently made a sudden announcement that it will be withdrawing from offshore block 5/6/7 and offshore block 11B/12B. The company cited economic challenges in developing and monetizing gas discoveries in South Africa as the reason for its exit. Following this announcement, various industry experts, including the African Energy Chamber, have shared their opinions on the implications of this move without considering the views of environmental justice groups.
These experts, along with the media, have painted a rosy picture of a future where South Africa benefits immensely from gas discoveries, creating jobs and boosting the economy. However, they fail to address the environmental concerns, technical challenges, and the impact of increased greenhouse gas emissions that would come with the extraction of new oil and gas reserves.
In this narrative of a gas-powered future, the dysfunction of PetroSA is conveniently ignored, and the harsh realities of deep-water drilling in rough conditions are downplayed. Moreover, the discussion around climate change is conspicuously absent, despite the urgent need to reduce global emissions to avoid catastrophic consequences.
While the media continues to echo the optimistic outlook presented by oil and gas lobbyists, it is crucial to consider alternative perspectives. Rather than lamenting the exit of major oil companies, it might be an opportunity for South Africa to avoid the pitfalls experienced by other oil-rich nations plagued by corruption and inequality.
Countries like Nigeria and Angola serve as cautionary tales of how oil wealth can exacerbate existing problems and benefit a select few at the expense of the majority. Similarly, Mozambique’s experience with gas discoveries leading to stalled development and increased conflict should serve as a reminder of the complex realities of natural resource exploitation.
In light of these examples, it is essential to reevaluate South Africa’s energy future and consider a path that prioritizes sustainability, equity, and long-term prosperity. By breaking free from the grip of the global oil and gas industry, the country has a chance to shape a more just and resilient future for its citizens. It is time for the media to step away from the industry narrative and explore the potential benefits of moving towards a cleaner, more sustainable energy model that serves the interests of all South Africans.