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Renergen Launches First LNG Auction - South Africa

Renergen is the first South African based company to supply LNG, and from domestic supply as opposed to other imported sources. By 2021, the company will conclude with its Virginia Gas Project Phase 1 expansion plans and will produce LNG and helium.

 
The producer said interested parties are requested to apply for a bid to allocate LNG from the company’s Virginia Gas Project, located in the Free State, about 250 km southwest of Johannesburg.
 
This major milestone will see Renergen becoming the country’s first LNG distributor (in partnership with Total) at filling stations, and the only domestic helium producer. Renergen expects availability of Phase 2 of the Virginia Gas Project by 2023. The firm expects a significant rise in demand for LNG across South Africa.
 
Phase 2 productions at the Virginia Gas Project will boost the 2021 Phase 1 production, providing LNG availability across all major highways in South Africa with excess volume to be put on the market. LNG is the cleanest combustion of all hydrocarbons and offers a less carbon-intensive substitute for existing South African transportation fuel, thermal fuel and power.
Moreover, all stakeholders will be required to sign a mutual confidentiality agreement while all details related to the auction will be kept in confidence. Information relating to successful bids, including the integrity of successful bidders, will be kept confidential and will only be made public by mutual agreement.
 
Source : www.ogafnz.com
Posted On: 7/23/2020 12:00:00 AM

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