Savannah Energy Plc New Gas Sales Agreement with TransAfam Power Ltd (7046N)
June 06 2022 - 1:03AM
UK Regulatory
TIDMSAVE
RNS Number : 7046N
Savannah Energy Plc
06 June 2022
6 June 2022
Savannah Energy PLC
("Savannah" or "the Company")
New Gas Sales Agreement Signed with 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 the Company's 80% indirectly owned
subsidiary, Accugas Limited, has entered into a new gas sales
agreement ("GSA") with TransAfam Power Limited ("TAPL") in relation
to the provision of gas for use at its power plants in Rivers
State, Nigeria.
TAPL is a licensed power generation company in Nigeria and is
the core investor in the Afam Power Plc and Afam Three Fast Power
plants located in Okoloma, Rivers State, Nigeria with installed
capacity of 966MW.
Accugas has entered a GSA with TAPL to supply up to 35 MMscfpd
of gas on an interruptible basis for an initial term of three
months, 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 and no further tie-in or capital
expenditure is required by Accugas to deliver gas to TAPL.
Andrew Knott, CEO of Savannah Energy, said:
"I am delighted to add TAPL as a new customer of Accugas. This
represents the second new GSA we have signed this year, bringing
our total number of gas customers to seven, as we deliver on our
objective to be the gas supplier of choice to the power sector in
Nigeria."
Vincent Ozoude, MD/CEO of TransAfam Power Limited said:
"We are excited to start this journey with Accugas Limited which
supports our core purpose of improving lives and transforming
Nigeria. This relationship with Accugas should go a long way in
boosting our plant capacity recovery programme and improved power
generation to the country."
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, Interim CFO
Sally Marshak, Head of IR & Communications
Strand Hanson (Nominated Adviser) +44 (0) 20 7409 3494
James Spinney
Ritchie Balmer
R ob Patrick
finnCap Ltd (Joint Broker)
Christopher Raggett
Tim Redfern +44 (0) 20 7220 0500
Panmure Gordon (UK) Ltd (Joint Broker)
John Prior +44 (0) 20 7886 2500
Hugh Rich
J ames Sinclair-Ford
Camarco +44 (0) 203 757 4980
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 No. 596/2014, 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 .
South East Nigeria Infrastructure Map
http://www.rns-pdf.londonstockexchange.com/rns/7046N_1-2022-6-5.pdf
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
CNTGZGGVZKDGZZZ
(END) Dow Jones Newswires
June 06, 2022 02:03 ET (06:03 GMT)
Savannah Petroleum (LSE:SAVP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Savannah Petroleum (LSE:SAVP)
Historical Stock Chart
From Jul 2023 to Jul 2024