for subscribers

Karoo fracking to begin in 12 months - govt

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Johannesburg - The government said on Tuesday that exploration for shale gas will begin in the next 12 months, ending years of speculation over the project.

South Africa's semi-desert Karoo region is believed to hold at least 485 trillion cubic feet of shale gas, but drilling has been delayed by environmental and economic concerns.

"One area of real opportunity for South Africa is the exploitation of shale gas," the government said in a statement.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
16.10
(+0.15)
ZAR/GBP
20.90
(+0.32)
ZAR/EUR
19.07
(+0.40)
ZAR/AUD
11.77
(+0.37)
ZAR/JPY
0.15
(+0.10)
Gold
1952.79
(+0.29)
Silver
27.06
(+0.10)
Platinum
944.00
(+1.23)
Brent Crude
43.78
(+2.41)
Palladium
2330.50
(+0.28)
All Share
54835.93
(-0.36)
Top 40
50548.74
(-0.30)
Financial 15
9828.87
(-2.26)
Industrial 25
72921.17
(-0.58)
Resource 10
55560.52
(+0.80)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1288 votes
It depends on how the funds are used.
73% - 8588 votes
No. We should have gotten the loan elsewhere.
16% - 1889 votes
Vote