UK Oil & Gas
PLC
("UKOG" or the
"Company")
Solent Cluster Hydrogen
Storage LOS
UK Oil & Gas PLC (London AIM:
UKOG) is delighted to announce that its strategic Dorset salt
cavern hydrogen storage project, operated by its wholly owned
subsidiary UK Energy Storage ("UKEn"), has received a further key
letter of support ("LOS") from The Solent Cluster, which
constitutes the primary near-term industrial user base of the
Company's planned facility.
The Solent Cluster is one of six
large UK industrial clusters planning to decarbonise via a switch
to hydrogen and other sustainable low-carbon power sources. It is
the major industrial cluster and carbon emitter in the southern
half of England and encompasses UKEn's planned storage facility at
its western limit.
Stuart Baker, Executive Director of The Solent Cluster,
states:
"The production, transport and storage of hydrogen are key
infrastructure elements of The Solent Cluster, with significant
national scale hydrogen facilities planned by our members,
including SGN, RWE and ExxonMobil, two of whom, we understand, have
also furnished LOS to UKEn.
UKEn's hydrogen storage project in Dorset can, therefore, be a
key enabler for the decarbonisation of The Solent Cluster and
southern UK, providing strategic inter-day to seasonal storage
capacity, security of supply and pipeline stability for the
proposed SGN H2 Connect pipeline network, also a key part of The
Solent Cluster."
As per the Company's RNS of 27 June
2024, UKEn's national scale Dorset storage facility is planned to
link directly with The Solent Cluster and the wider southern UK via
SGN's H2 Connect pipeline, enabling our storage to service a
significant portion of the UK's planned future hydrogen
system.
Along with similar LOSs from
Sumitomo, SGN and RWE (see RNS announcements of 29 May, 27 June and
2 August 2024) The Solent Cluster LOS will be used as required
documentation for UKEn's future application for government hydrogen
storage Revenue Support.
Stephen Sanderson, Chief Executive of UKOG and UKEn,
commented:
"This further key LOS will help strengthen UKEn's application
for Revenue Support by providing government and identified
potential strategic investors comfort that the project links
directly to a major UK industrial user base. We look forward to
continued collaboration with The Solent Cluster of which we are now
a key member."
For
further information, please contact:
UK
Oil & Gas Plc
Stephen Sanderson / Matt Cartwright
Tel: 01483 941493
Zeus Capital Limited (Nominated Adviser and
Broker)
James Joyce / James Bavister /
Andrew de Andrade
Tel: 0203
829 5000
CMC
Markets (Joint Broker)
Douglas
Crippen
Tel: 0203 003 8632
Communications
Brian Alexander
Tel:
01483 941493
The
information contained within this announcement is deemed by the
Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014, as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018. Upon
publication of this announcement, this information is now
considered to be in the public
domain.