The African Energy Chamber (AEC) (http://www.EnergyChamber.org), the voice of the African energy sector, is proud to announce that Stefano Marani, CEO of integrated renewable energy producer and helium and natural gas company, Renergen, will participate as a speaker at the African Energy Week (AEW) 2023 interactive conference and exhibition, taking place from 16-20 October in Cape Town, South Africa.
Having pioneered the use of natural gas in heavy-duty vehicles – thus leading efforts towards the decarbonization of South Africa’s transport sector – and with substantial gas reserves in the country’s Free State Province, Renergen’s efforts in showcasing how natural gas production can drive economic growth have demonstrated that there is ample room for natural gas production in the southern African country.
Marani has been instrumental in taking the dual-listed company’s acquired gas fields from a stranded asset into production. What’s more, Marani has highlighted the need for South Africa to leverage its natural gas resources to promote a less carbon-intensive substitute for the country’s existing transport, thermal and power generation fuels.
With a significant energy deficit in South Africa, new sources of fuel for thermal power plants offer a glimmer of hope for a nation reeling from unprecedented power shortages and blackouts. Renergen’s three conventional gas fields in the Free State – Theunissen, Virginia and Welkom – are collectively estimated to contain up to 407 billion cubic feet of conventional natural gas. As such, the company has sought to transform its reserves into a larger scale liquefied natural gas (LNG) project.
In September 2022, Renergen became South Africa’s first and sole producer of LNG following the start-up of its onshore gas liquefaction plant. Output from the plant is poised to reduce the country’s carbon footprint while promoting the Free State Province as a hub for the manufacturing of clean, sustainable energy.
“Renergen’s considerable efforts towards driving and monetizing natural gas resources should serve as a clear message to investors that the upstream oil and gas industry is open for business in South Africa. Gas will help South Africa find ways to produce the additional electricity it needs to provide all of its citizens with reliable and secure power,” states NJ Ayuk, Executive Chairman of the AEC.
As a result of its achievements in South Africa, Renergen has received expressions of interest from a multitude of large-scale industrial manufacturers, heavy logistics operators, and independent power producers. Additionally, the company’s operations are poised for expansion in the coming years through the development and construction of the second Phase of the Virginia gas project, which is expected to provide an estimated 680 tons per day of LNG and up to one million standard cubic feet per day of liquid helium.
Organized by the AEC, AEW 2023 will unite energy stakeholders, global investors, and executives from across the public and private sectors for a week of interactive conferences, exhibitions, panel discussions, investor forums, industry summits, and one-on-one meeting opportunities to drive African industry growth and development. As such, with his significant experience in the areas of structure finance and advisory solutions, Marani’s participation at AEW 2023 is poised to showcase the lucrative and diverse opportunities for investment in natural gas development in South Africa.
African Energy Week (AEW) is the African Energy Chamber’s (AEC) interactive exhibition and networking event, established in 2021, that seeks to unite African energy stakeholders, drive industry growth and development, and promote Africa as the destination for African-focused events.
