PRIVATE PLACEMENT OF SHARES
Renergen plans to raise funds for its gas project
The gas producer aims to raise R125m through a private placement to help fund construction of South Africa’s first onshore liquefied natural gas facility
Gas producer Renergen would embark on a roadshow shortly to raise a minimum of R125m through a private placement of shares to help fund construction of a pipeline and liquefaction facilities at its Tetra 4 wells in the Free State, CEO Stefano Marani said on Monday. This will be SA’s first onshore liquefied natural gas (LNG) facility. Sasol imports a slightly different product, natural gas, via a pipeline from onshore wells in Mozambique for industrial customers around Gauteng. The Department of Energy is also planning to import LNG for power generation.