REG - EnergyPathways PLC - Operator Approval and Contractor Appointment

EnergypathwaysAnnouncement

13/01/2025 07:00

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RNS Number : 0556T  EnergyPathways PLC  13 January 2025

13 January
2025

EnergyPathways plc

 

("EnergyPathways" or the "Company")

 

Licence Operatorship Approval and Contractor Appointment

 

EnergyPathways plc (AIM: EPP), an energy transition company developing low
carbon integrated energy solutions in the UK, is pleased to announce Licence
Operatorship approval for Block 110/4a that includes the Company's Marram
Energy Storage Hub project ("MESH") and a subsea engineering service agreement
with PDi Ltd ("PDi").

 

The Company announces that the North Sea Transition Authority (NSTA) has granted approval to EnergyPathways for the Licence Operatorship of Block 110/4a. This is an important milestone for the development of MESH and a prerequisite for the upcoming submission of the Field Development Plan ("FDP") and Environmental Statement ("ES").

 

Additionally, the Company has selected PDi to provide engineering study
support to Marram field development regarding the tie-in connection of MESH as
part of pre-Front End Engineering and Design ("FEED").  The appointment of
PDi follows the recently announced appointment of Wood plc as project lead
engineering partner for MESH, as EnergyPathways and these appointed
contractors progress the MESH project through the engineering, construction,
commissioning and management phases.

 

Ben Clube, CEO of EnergyPathways plc said:

 

" We are delighted to announce the NSTA's approval for the Licence
Operatorship for  Marram Block 110/4a which is an endorsement by Government
authorities of our operating capabilities and is a necessary milestone to keep
us on track towards our plans to achieve FID on MESH later this year.

 

"We are also pleased to welcome PDi into the MESH consortium, providing
support to EnergyPathways as we progress MESH through the pre-FEED process.
PDi is a highly experienced UK company that is a leader in the provision of
project management with specific subsea capabilities relevant to MESH.

 

"This winter's conditions highlight the importance of the need to increase the
UK's natural gas and energy storage capacity to improve its energy security
and to alleviate the impact of volatile global energy prices on UK household
budgets."

 

 

About MESH

 

MESH is a new large scale energy storage facility that is expected to provide
a secure and dependable supply of natural gas and green hydrogen for the UK
market for over 20 years. MESH is expected to be the UK's largest natural gas
and hydrogen energy storage facility and will be able to store in excess of
500 million therms of energy. Production operations are expected to start from
the end of 2029 to ensure a reliable and secure supply of energy for the UK.
 MESH has been designed as a fully decarbonised and electrified zero emission
facility that is to be powered by the renewable wind farms of the UK Irish Sea
region. EnergyPathways aims to play a leading role in supporting the UK's
energy transition and development of a hydrogen economy.

 

About PDi LTD

 

PDi is a leading provider of project management, subsea & topsides
engineering consultancy and technical secondment services to the energy sector
with specialist expertise in subsea, topsides engineering and decommissioning
activities.

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018). The Directors of the Company are
responsible for the contents of this announcement.

 

 

Investor Engagement with EnergyPathways

Engage with us by asking questions, watching video summaries and seeing what
other shareholders have to say. Navigate to our Interactive Investor website
here:

https://energypathways.uk/link/5Pbmwr (https://energypathways.uk/link/5Pbmwr)

 

 

 

Enquiries:

 

 EnergyPathways                                        Tel: +44 (0)207 466 5000, c/o Buchanan (Financial PR)

Ben Clube / Ben Hodges

                                                     Email : info@energypathways.uk

 Cairn Financial Advisers LLP (Nominated Adviser)      Tel: +44 (0)20 7213 0880

 Jo Turner / Louise O'Driscoll / Sandy Jamieson
 SP Angel Corporate Finance LLP (Broker)               Tel: +44 (0)20 3470 0470

 Richard Hail / Adam Cowl
 Global Investment Strategy UK Limited (Joint Broker)  Tel: +44 (0)20 7048 9000
 Callum Hill / James Sheehan

 

For further information on EnergyPathways visit www.energypathways.uk
(http://www.energypathways.uk) and @energy_pathways on X (formerly Twitter).

 

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