In the grassy plains of the Free State, what was thought to be a liquified natural gas well worth R8 at the time might become worth R1.7 trillion as South Africa's first helium plant:
that the first phase of the company’s Virginia Gas Project in the Free State, which started construction in 2019, is set to be commissioned by the end of July 2022.The company reckons that the helium deposits at the 187 000 hectare facility, which will be operated by its subsidiary Tetra 4, producing well above the average of 120 000 standard cubic feet per day.
Marani and Chief Operating Officer Nick Mitchell had only liquified natural gas in mind when they bought the gas rights in the area for $1 in 2012, worth about R8 at the time. But their survey discovered unusually massive helium potential estimated to be worth more than $100 billion . Initial outputs will be relatively small, with a 50 tonne-per-day nameplate capacity for LNG as well as approximately 300 to 350 kg of helium, all of which will be exported. There is currently no method for synthetically producing helium, making it a highly valuable and sought after commodity.The company has already lined up two big customers that will buy its LNG — Ceramic Industries and Consol Glass — to help them wean off their operations from heavier fossil fuels.
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