Johannesburg, 5 September 2022, South Africa: Renergen is pleased to announce a major milestone, with the Virginia Gas Project (Virginia) now operational, transitioning Renergen from explorer to producer status by producing liquid hydrocarbons, with the helium module to produce liquid in due course.
Renergen has beneficial use of the system and has commenced filling of bulk storage tanks to begin delivery of the product to customers.
Importantly, through the commencement of operations, Virginia becomes South Africa’s first commercial LNG plant. Renergen will now focus on ramping-up operations over the coming months to full Phase 1 capacity, which will play a key role in reducing the country’s carbon footprint by substituting diesel in trucks and for commercial users.
Speaking about this major milestone achievement, CEO Stefano Marani said, “This watershed moment in the Company’s lifecycle has finally arrived. This is a significant step on the path to showing the world that Renergen can become a global player in liquid helium supply and a material local supplier of much-needed LNG.
“The transformation of the Company since first listing in 2015 has been truly incredible, and I am very proud of the efforts, hard work and determination of the team in getting Renergen to the position we find ourselves in today. Virginia is a world-class project, and we will now focus on ramping-up operations to full Phase 1 capacity over the coming months.”
Renergen is a producer of liquefied natural gas (LNG) and helium. Renergen was listed on Johannesburg’s AltX securities exchange in June 2015 as South Africa’s first listed alternative and renewable energy company. Renergen was listed on the Australian Securities Exchange (ASX) on the 6th of June 2019, with the code RLT. Renergen’s principal asset is its 100% shareholding in Tetra4, which holds the first and only onshore petroleum production right in South Africa, giving it first mover advantage in the distribution of domestic natural gas, along with the potential to become one of the major global helium suppliers.