Emerging Liquefied Natural Gas (“LNG”) and helium producer, Renergen, is pleased to announce a loan agreement with the Overseas Private Investment Corporation (“OPIC”) was signed on Wednesday, the 21st of August 2019. The agreement with OPIC marks a significant milestone for Renergen as it provides access to the capital required to construct the first phase of the Virginia Gas Project (“The Project”) in South Africa. Importantly, the loan is also a major endorsement of the Virginia Gas Project by the US Government, and the increasing importance of securing helium, with significant supply shortages forecasted.
$US40 million loan secured with US Government Agency, OPIC
Important Prospectus milestone & strong endorsement of Virginia Gas Project
Provides greater certainty of project revenue commencement in first half 2021
Highlights increasing strategic global importance of helium
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