REG - Savannah Energy Plc - New Gas Sales Agreement with TransAfam Power Ltd

Savannah EnergyAnnouncement

06/06/2022 07:18

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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 (http://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
 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
 Hugh Rich

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

 

 

South East Nigeria Infrastructure Map

http://www.rns-pdf.londonstockexchange.com/rns/7046N_1-2022-6-5.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/7046N_1-2022-6-5.pdf)

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