Renergen to carry South Africa’s first LNG public sale

Pure fuel and helium producer Renergen has invited candidates for South Africa’s first liquefied pure fuel (LNG) public sale for LNG produced at its undertaking within the Free State, the corporate mentioned on Monday.

Renergen, which mentioned it holds the one onshore petroleum manufacturing rights in South Africa, has invited events to use to bid for the allocation of LNG produced at its Virginia Gasoline Mission.

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The registration for functions will shut on August 27 with a blind public sale to be held thereafter at an unconfirmed date.

The undertaking, which contains exploration and manufacturing rights of 187,000 hectares of fuel fields throughout Welkom, Virginia and Theunissen, will produce high-quality LNG with a median content material of greater than 95% methane, the corporate mentioned.

It additionally has one of many world’s richest sources of helium, used to chill superconducting magnets in medical magnetic resonance imaging (MRI) scanners, as a fuel to breathe in deep-sea diving and as a lifting fuel in balloons and airships.

Renergen plans to finish section 1 of the undertaking to supply LNG and helium by 2021 and expects section 2 to be accessible by 2023.