In South Africa, the state’s Central Energy Fund (CEF) is investing ZAR1 billion into the country’s Virginia gas project in a push towards adopting renewable energy.

The project is the first and only onshore petroleum production in the country, and features one of the world’s richest resources of helium. Its reserves have previously been estimated at 9.74 billion m³. The plant is located in the Free State, and the gas field spans 187 000 ha across Welkom, Virginia and Theunissen.

Business Tech reports that the CEF will now own a 10% stake in the project owner and operator, Tetra4. The CEF has an investment mandate focused on contributing to local energy security.

Expansion work on the facility, which includes connecting existing wells to new gas pipelines and constructing a new helium and liquefied natural gas plant, is expected to start this month.

5 April 2022
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