Renergen (ASX:RLT) said the High Court of South Africa, Gauteng Division, on Monday ruled in favor of its unit Tetra4's request for a declarator that the Gas Act 48 of 2001 does not apply to any production and incidental activities related to upstream petroleum activities, according to a Wednesday Australian bourse filing.
The firm had filed the request in 2021 to seek clarification on the jurisdiction of the National Energy Regulator of South Africa, regarding certain operational activities.
The court found that Tetra4 does not require a license from the regulator for trading in gas (such as methane and helium) when such trading occurs outside the piped gas industry.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.