14 January 2025
The following amendment has been made to the announcement
titled "Operator Approval and Contractor Appointment" released at
7:00:06 a.m. on 13 January 2025 under RNS number 0556T ("the
Announcement").
The Announcement should have stated that
Production
operations at MESH are expected to start from the end of
2027 to ensure a reliable and secure supply
of energy for the UK. This amendment has been made below. All other
details remain unchanged.
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 2027 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
Enquiries:
|
EnergyPathways
Ben Clube / Ben Hodges
|
Tel: +44 (0)207 466 5000, c/o
Buchanan (Financial PR)
Email :
info@energypathways.uk
|
|
Cairn Financial Advisers LLP (Nominated
Adviser)
Jo Turner / Louise O'Driscoll /
Sandy Jamieson
|
Tel: +44 (0)20 7213 0880
|
|
SP
Angel Corporate Finance LLP (Broker)
Richard Hail / Adam
Cowl
|
Tel: +44 (0)20 3470 0470
|
|
Global Investment Strategy UK Limited (Joint
Broker)
Callum Hill / James
Sheehan
|
Tel: +44 (0)20 7048 9000
|
For further information on
EnergyPathways visit www.energypathways.uk
and @energy_pathways on X (formerly
Twitter).
