Savannah Energy Plc First Gas Sales to TransAfam Power Limited (3792Q)
June 28 2022 - 2:00AM
UK Regulatory
TIDMSAVE
RNS Number : 3792Q
Savannah Energy Plc
28 June 2022
28 June 2022
Savannah Energy PLC
("Savannah" or the "Company")
First Gas Sales to TransAfam Power Limited
Savannah Energy PLC, the British independent energy company
focused around the delivery of Projects that Matter in Africa , is
pleased to announce that Accugas Limited ("Accugas"), the Company's
80% indirectly owned subsidiary, has commenced gas sales to
TransAfam Power Limited ("TAPL") in relation to the provision of
gas for use at its power plants in Rivers State, Nigeria.
As previously announced on 6 June 2022, Savannah signed an
interruptible gas sales agreement ("GSA") with TAPL to supply up to
35 MMscfpd daily for an initial three-month period, with the option
to extend for a mutually agreed period. The plant is connected to
the Accugas network via the Nigerian Gas Company pipeline from Ikot
Abasi.
Andrew Knott, CEO, Savannah Energy, said :
"I am delighted to report we have already begun first gas sales
to TAPL, having signed an agreement at the beginning of this month.
This will be the third customer we have commenced new gas supply to
in the past month. We have now signed and operationalised GSAs with
power plants comprising around 24% of the country's thermal
generation capacity (up from 14% at the same time last year)
demonstrating our dedication to the Nigerian industry and being the
energy partner of choice."
Vincent Ozoude, MD/CEO, TransAfam Power Limited, commented:
"We are pleased that the gas supply from Accugas Limited to our
plant has commenced. This, as earlier mentioned, will support in
boosting our plant capacity recovery programme and improving power
generation to the country."
Speaking on the development, the President, Transcorp Group, Mrs
Owen Omogiafo, said:
"The commencement of the gas supply by Accugas Limited to our
subsidiary TransAfam is in line with our strategic intent of
increasing power generation in Nigeria, noting the role of energy
in the nation's development. We remain committed to optimising our
installed capacities across our various plants, as leaders in the
sector."
For further information, please refer to the Company's website
www.savannah-energy.com or contact:
Savannah Energy +44 (0) 20 3817 9844
Andrew Knott, CEO
Nick Beattie, CFO
Sally Marshak, Head of IR & Communications
Strand Hanson (Nominated Adviser) +44 (0) 20 7409 3494
James Spinney
Ritchie Balmer
Rob Patrick
finnCap Ltd (Joint Broker)
Christopher Raggett +44 (0) 20 7220
Tim Redfern 0500
Panmure Gordon (UK) Ltd (Joint Broker)
John Prior
Hugo Rich +44 (0) 20 7886
James Sinclair-Ford 2500
Camarco +44 (0) 20 3757 4983
Billy Clegg
Owen Roberts
Violet Wilson
The information contained within this announcement is considered
to be inside information prior to its release, as defined in
Article 7 of the Market Abuse Regulation (EU) No. 596/2014, which
forms part of United Kingdom domestic law by virtue of the European
Union (Withdrawal) Act 2018 (as amended), and is disclosed in
accordance with the Company's obligations under Article 17 of those
Regulations.
About Savannah Energy
Savannah Energy PLC is an AIM quoted British independent energy
company focused around the delivery of Projects that Matter in
Africa and is active in Cameroon, Chad, Niger and Nigeria.
Further information on Savannah Energy PLC can be found on the
Company's website: www.savannah-energy.com .
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