REG - Savannah Energy Plc - First Gas Sales to Central Horizon Gas Company Ltd

Savannah EnergyAnnouncement

27/06/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220627:nRSa2090Qa&default-theme=true

RNS Number : 2090Q  Savannah Energy Plc  27 June 2022

27 June 2022

 

 

Savannah Energy PLC

("Savannah" or the "Company")

 

 

First Gas Sales to the Central Horizon Gas Company 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 Central Horizon Gas Company Limited ("CHGC"), a
subsidiary of Axxela Limited ("Axxela"), and a major gas distribution company
situated in the South-South region of Nigeria.

 

As previously announced in February 2022, Savannah signed an interruptible gas
sales agreement ("GSA") with CHGC to supply up to 5 MMscfpd daily for an
initial one-year period. CHGC operates a 17km gas pipeline infrastructure
network with a throughput capacity of 50 MMscfpd, which provides natural gas
to industrial and commercial customers in the Trans Amadi Industrial Area of
Port Harcourt as well as the Greater Port Harcourt Area, Nigeria.

 

CHGC is majority owned and controlled by Axxela, which delivers natural gas to
over 185 industrial and commercial customers via its gas infrastructure
network across cities in Nigeria including Lagos and Port Harcourt.

 

Andrew Knott, CEO of Savannah Energy, said:

"We are very pleased to have operationalised our gas sales agreement with
CHGC, our third new customer facility we have connected with this year. The
rapid progress we have made to diversify and increase Accugas' customer base
since acquiring the business has been significant. I would like to thank and
commend the Accugas and CHGC/Axxela teams for having worked together so well
to achieve the first gas sales milestone so quickly after GSA signature."

 

Commenting on behalf of Axxela, Chief Executive Officer, Bolaji Osunsanya,
said: "This interruptible gas sales agreement reinforces our continued
commitment to be the energy partner of choice to our customers. We believe
that with this partnership, CHGC can further provide flexibility and supply
assurance to our growing customer base within the Greater Port Harcourt area
and its environs".

 

 

For further information, please refer to the Company's
website www.savannah-energy.com (http://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                                                                             +44 (0) 20 7220 0500
     Broker)

     Christopher Raggett

     Tim Redfern

     Panmure Gordon (UK) Ltd (Joint                                                                 +44 (0) 20 7886 2500
     Broker)

     John Prior

     Hugo Rich

     James Sinclair-Ford

     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 (http://www.savannah-energy.com/) .

 

South East Infrastructure Map

http://www.rns-pdf.londonstockexchange.com/rns/2090Q_1-2022-6-26.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/2090Q_1-2022-6-26.pdf)

 

About Axxela

Axxela Limited (http://www.axxelagroup.com) ("Axxela") is a pioneering private
sector-led developer of natural gas and a designated natural gas shipper on
the West African Gas Pipeline (WAGP), delivering natural gas to over 185
industrial and commercial clients via a vast network of gas infrastructure.

With over 300km in gas pipeline infrastructure built, Axxela provides unique
energy solutions primarily through its subsidiaries: Gaslink Nigeria Limited,
Gas Network Services Limited, Central Horizon Gas Company Limited, and Transit
Gas Nigeria Limited. www.axxelagroup.com (http://www.axxelagroup.com)

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAFKKAAKAEAA