THE Central Energy Fund (CEF) announced on Tuesday that it has secured international loans amounting to $333-million to develop the Mossgas EM gas field. The project, which was approved by government this year, will extend the life of South Africa’s synthetic fuel producing plant at Mossel Bay until 2007. Mossgas currently produces about 7% of South Africa’s liquid fuel requirements. CEF chairman Keith Kunene said that without the loans, Mossgas faced closure next year. Although the South African government has guaranteed the loan, all repayments will be made by CEF from the cash flows of Mossgas and no government funding willd be required.