Renergen Secures Major LNG Contract for South Africa Project

Renergen Limited's subsidiary, Tetra4 Proprietary Limited, has signed a five-year take-or-pay contract with a South African food processor to supply liquified natural gas (LNG) from its Virginia Gas Project in Free State Province. This new agreement supports approximately 10% of the project's Phase 1 nameplate capacity and is priced at greater than $16/GJ (0.9478 MMBtu). The deal marks a significant milestone for Renergen, with Tetra4 having now secured take-or-pay contracts to support around 75% of the anticipated LNG volumes from Phase 1.

The Virginia Gas Project aims to produce approximately 2,500 GJ/day of LNG and around 70 Mcf/day of liquid helium. Commercial production is expected to commence in the third quarter of 2026. With this new contract in place, Renergen should be capable of generating revenues of over $27 million on an annualized basis following the completion of Phase 1.

Renergen's Executive Chairman and Chief Executive Officer, Paul Mann, welcomed the development, stating that South Africa's domestic energy situation has been challenging during recent years with multiple load shedding events and energy blackouts. The associated LNG produced from the Virginia Gas Project is expected to support local industrial businesses' energy needs.