State Gas Limited (ASX: GAS) successfully completed a capital raising transaction in the quarter, allowing the company to advance its Compressed Natural Gas (CNG) Facility in Brisbane. Critical CNG Facility components have been assembled, with foundation work in progress. The compressor and dehydrator will soon be transported for the CNG Plant's late November 2023 commissioning, aiming for initial gas production by December 2023.
The CNG Project captures and commercializes production testing gas and provides a new avenue for pipeline-quality natural gas. This technology supports the Company's gas projects and offers flexibility for end users lacking traditional pipeline access, reducing the need for new equity capital. Construction challenges have arisen but remain manageable. State Gas is well-positioned to demonstrate the potential of its assets, with initial CNG production supporting a reserve certification. The company's strong liquidity and innovative approach support the transition to renewable energy sources and reduced reliance on coal and diesel.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
