Addressing representatives from the Ministry of Energy and key participants in the local energy sector Paul Eardley-Taylor,Head of Oil and Gas for South and Central Africa at Standard Bank of which Stanbic Bank is a member at a Stanbic bank breakfast meeting in Lusaka, urged Zambia to capitalise on the discovery of Liquefied Natural Gas(LNG) in neighbouring Mozambique, by means of exploring investment potentials to help tackle the country’s shortfalls. 

He furthermore took note that as a result of frequent drought in Zambia which is a direct outcome of climate change, local hydropower stations are virtually useless, as the country is witnessing an increase in scarcity of water, which invariably has a multiplier effect of serious electricity shortfalls, creating power blackouts lasting up to 15hours a day, thereby slowing down economic productivity. 

To ensure energy security, the Standard Bank Group of which Stanbic Bank Zambia is a member emphasised the inclusion of Liquefied Natural Gas as a means of supplementing other sources of energy Zambia is undertaking to prevent future power shortfalls, especially if implemented alongside wind and solar power.