Renergen, a JSE-listed natural gas and helium producer, reported a 12.8% increase in liquefied natural gas (LNG) production during the quarter ending May 2023.
- The increase in production can be attributed to the successful performance testing of Renergen’s new LNG train.
- Renergen’s shares rose around 3% on the news, trading at R21.51.
- The company expects the upward production trend to continue until the plant reaches full capacity early next year.
- Renergen has completed the helium cold box commission but identified a leak in a vacuum circuit, which is currently undergoing repairs. The helium system’s performance testing is now expected to resume in October 2023.