Venezuela's Chavez seeks energy deal in S Africa
Venezuelan President Hugo Chavez began a two-day visit to South Africa on Tuesday in hopes of securing a major energy deal.
By Agencies |
PRETORIA (South Africa): Venezuelan President Hugo Chavez began a two-day visit to South Africa on Tuesday in hopes of securing a major energy deal.
Minerals and energy were at the top of the agenda for Chavez and South African President Thabo Mbeki. Venezuela is eager to explore South Africa's gas-to-liquid technology, and South Africa's PetroSA state oil company is looking to invest in oil exploration and production in Venezuela.
``Venezuela has one of the largest oil reserves in the world and developing commercial relations in this sector could provide alternative sources of energy to South Africa,'' Foreign Affairs spokesman Ronnie Mamoepa said in a statement Monday.
South Africa is searching for a source of oil for its planned Coega Refinery, a strategic investment to help secure its energy supplies. The country suffered massive power cuts in January that damaged its mining industry and caused poor growth in the first three months of the year.
Mbeki accorded full honors to Chavez, who was making his first visit to South Africa, welcoming him with a 21-gun salute. The two presidents are like-minded in their condemnation of Western imperialism and their belief in an African solution to the crisis in Zimbabwe.
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