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REG - Savannah Energy Plc - First Gas Sales to TransAfam Power Limited

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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 (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/3792Q_1-2022-6-27.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3792Q_1-2022-6-27.pdf)

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