SAVE.L

Savannah Energy PLC
Savannah Energy Plc - First Gas Sales to TransAfam Power Limited
28th June 2022, 06:00
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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 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 Broker)                                  

Christopher Raggett

Tim Redfern

+44 (0) 20 7220 0500



 





 

Panmure Gordon (UK) Ltd (Joint Broker)                                    

John Prior

Hugo Rich

James Sinclair-Ford

+44 (0) 20 7886 2500



 





 

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.

 

South East Infrastructure Map

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


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