Digging in: Stefano Marani, CEO of Renergen at the Tetra4 gas plant in Virginia, Free State. Picture: FREDDY MAVUNDA/FINANCIAL MAIL
Digging in: Stefano Marani, CEO of Renergen at the Tetra4 gas plant in Virginia, Free State. Picture: FREDDY MAVUNDA/FINANCIAL MAIL

Liquefied natural gas and helium company Renergen said on Thursday that Covid-19 may boost demand for helium in the medium term, as hospitals stock up on medical equipment that uses the gas.

Renergen is developing the Virginia gas field in the Free State, the only onshore petroleum production right in SA. The natural gas resource contains one of the richest helium concentrations recorded globally.

Covid-19 may result in countries preparing for future pandemics with additional medical facilities, the group said, which could result in increased oncology wards and more magnetic resonance imaging (MRI) machines, the group said.

MRI machines use helium for cooling.

Renergen’s share was unchanged at R10.50 on Thursday afternoon, having fallen 24.46% so far in 2020.

gernetzkyk@businesslive.co.za

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