South Africa’s CEF eyes stake in Renergen’s gas project
South Africa’s Central Energy Fund (CEF) is considering buying into Renergen’s Virginia gas project, paying 1 billion rand ($69 million) for a 10% stake.
South Africa’s Central Energy Fund (CEF) is considering buying into Renergen’s Virginia gas project, paying 1 billion rand ($69 million) for a 10% stake.
Ivanhoe Mines is buying a minor stake in South Africa’s LNG and helium producer Renergen – with an option to scale up its involvement.
Renergen’s P12 well has begun flowing gas, although at low levels, the company has reported.
Policies intended to tackle climate change are “closing doors on opportunities to allow poorer nations” to secure energy access, Renergen CEO Stefano Marani has said.
Renergen has signed up Saipem, EPCM Holdings and Sproule for the second phase of the Virginia gas project, in South Africa’s Free State.
Renergen’s Virginia project in South Africa has some of the hallmarks of a classic small-scale gas production plan, but with the added wrinkle of a shift to helium.