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Renergen sees Further Delays to Restarting Helium Production

Renergen restarted LNG deliveries after a maintenance outage extended due to unforeseen issues with the primary mixed refrigerant compressors, impacting the helium coldbox repair schedule. Collaborative efforts with local agents, and engineering teams have identified and addressed the root cause. With the helium cold box repair and testing completed last year, Renergen is now preparing for the final integration and performance testing of the helium system, using externally sourced nitrogen and helium to ensure the plant meets original design specifications. The company also plans to seek compensation for the delays through insurance or claims against suppliers. The company’s share price was up by 5% on the news, but is still down 27% YTD due to the consistent delays.

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