His Majesty Unveils E5.2 Billion Strategic Oil Reserve: A Bold Leap for Eswatini’s Energy Future

LOBAMBA – In a historic moment for Eswatini, His Majesty King Mswati III has officially unveiled the E5.2 billion Strategic Oil Reserve Model — a monumental infrastructure project set to transform the Kingdom’s energy landscape and enhance national economic resilience.

Launched in partnership with the Government of Taiwan, the Strategic Oil Reserve is not just an energy facility, but a national game-changer poised to usher in a new era of economic stability, self-reliance, and innovation.

Driving Job Creation and Skills Development

Speaking at the unveiling ceremony, His Majesty emphasized that this flagship project would significantly contribute to job creation and the empowerment of emaSwati through skills development. The initiative will train local professionals in advanced fuel management systems and operational safety, with some receiving hands-on training in Taiwan.

“This is more than just storage tanks and pipelines — it’s about preparing our people for the future, equipping them with world-class skills, and building the capacity to manage and protect our national resources,” His Majesty declared.

A Strategic Shield for National Security

The oil reserve, once complete, will enable Eswatini to store strategic volumes of fuel to cushion the country against regional supply shocks, global fuel price volatility, and natural disasters. It also ensures that Eswatini can maintain control over its energy supplies during disruptions such as refinery shutdowns, strikes, or border delays.

The facility will be located in Phuzumoya and include a state-of-the-art fuel storage system, a nitrogen safety mechanism to prevent fires, and the capacity to import, blend, and distribute fuel across the country efficiently.

Partnership with Taiwan: A Model of Development Cooperation

The collaboration with Taiwan underscores Eswatini’s commitment to strategic partnerships that deliver tangible benefits. Taiwan’s contribution extends beyond financing, offering engineering expertise, training programs, and project oversight to ensure long-term sustainability.

“This project reflects what’s possible when strong international partnerships are aligned with national development goals,” said the Acting CEO of the Eswatini National Petroleum Company (ENPC), Musa Shongwe.

A Signal of Confidence and Innovation

The E5.2 billion investment is one of the largest infrastructure undertakings in Eswatini’s history, sending a strong signal to the region and the global investment community that the Kingdom is open for business, ready for innovation, and committed to building a secure, self-sufficient economy.

By laying the foundation for a more stable and predictable fuel supply, the Strategic Oil Reserve project also sets the stage for future investments in industry, transport, and energy.

Conclusion

His Majesty’s unveiling of the Strategic Oil Reserve Model represents a powerful vision of Eswatini’s future — one anchored in resilience, growth, and self-determination. As the Kingdom embarks on this transformative journey, the project stands as a beacon of progress, uniting infrastructure, innovation, and national pride into one strategic mission.