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That article is from 2008, there are 3 types of Hydrogen production green blue and grey. Saltfleetby will be blue made from gas, green is from solar and grey is the dirtiest from coal i think.
Nomlungu
Think’s for the link
I would suggest they have a read of this if that’s the plan!
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/47922/473-application-wingas-gas-storage-saltfleetby.pdf
Green Hydrogen is unlikely to be on the cards in the timespan we are talking about here as its far from being actually “Green.”
The post also points you to the fact that existing pipeline isn’t suitable either, or as I point out will need De-commissioning as part of the FDP/Field abandonment notice removal for Saltfleetby from the OGA.
Carbon storage? Is that for the “Unicorn dung” others have pointed out?
'Be afraid - be VERY afraid...............'
If they agree to sell a certain amount of gas at a higher price when there is a demand squeeze it could go spectacularly wrong if they do not have the gas to supply. Many companies got caught short in the Great Texas Freeze earlier this year.
The final hedging won’t be put in place until we are closer to precise supply dates, ...
So when, in yesterday's RNS, GL speaks of "setting the hedge", he is referring to detailed agreement on the guidelines to be followed in determining the final hedging.
"our advisers at Aleph are exploring dynamic hedging strategies"
Be afraid - be VERY afraid...............
"I know they send the gas to France, and in turn they rip us off when sent back."
What are you talking about - there is no gas pipeline from the UK to France
There are ELCTRICTY lines which are used to balance load as they're an hour different to the UK, plus much of their electricity is baseload nuclear whereas the UK generates peak Wind
The Investor Question in question was asked on 27/01/21 and concludes as follows:
... Outside of that likely requirement, generally speaking, companies who have tried to speculate outside of hedging defined production have tended to go spectacularly wrong more often than right in much the same way that in gambling, on average, the punter loses and the House wins. Nonetheless our advisers at Aleph are exploring dynamic hedging strategies which would also allow some opportunistic fixing of future prices during the sorts of tight price environments which we have recently witnessed.
Thank you for that, WG818.
Ocelot
A further condition of the Mandate is that the debt provider will also provide hedging services on market terms for a proportion (no greater than 70%) of a low case production estimate during the four year life of the Loan Facility.
https://www.lse.co.uk/rns/ANGS/saltfleetby-loan-facility-update-569c7j7c4c9n6zu.html
From The Q&A Page.
The potential debt participants in the facility have indicated a strong preference for a buyng a “floor” (a seasonally adjusted option over a minimum price) at or around 30 p/therm over at least a majority of the production albeit on a declining balance related to expected outstandings on the loans. The final hedging won’t be put in place until we are closer to precise supply dates, given it will be much easier (and cheaper from a credit perspective) to hedge against known production.
When GL speaks of "the setting of the hedge", I'm not sure he's referring to a set price, I think he may be referring to the % of production to be hedged.
nom. Like i said the pipe is connected for a very good reason.The Humber is the highest polluter at present so has been chosen for the net zero scheme.
In fact, that doesn't make sense, because futures prices change all the time.
The hedging price will depend on futures prices when they come to hedge.
Angus have RNS’d the 30p Hedge figure ...
------------------
WG818, I have no memory of that, can you cite the date of the RNS, pls?
For God's sakes, don't start mentioning power stations fuelled by unicorn droppings! Or that'll appear in the next ANGS investor presentation, next to geothermal magic pixie dust decades-long projects in Cornwall.
https://www.angusenergy.co.uk/transition-esg/hydrogen-carbon-capture/
Maybe they hope to use Solar or Geothermal power to generate Hydrogen when spot prices for the electricity favour manufacturing Green Hydrogen?
Nomlungu
“Hydrogen” ..... from where? ....And how do they intend to get it there. Is it Blue or Green?
Mirasol. I know they send the gas to France, and in turn they rip us off when sent back.
Oktane. The pipe is going to the Humber Hub for a very good reason.
"board to board always negative,"
Like the return on my investments in all of them Oktane.............
"I presume there was no demand at that time"
there was - that's why Infrastrata spun out of Egdon. the problem is that the UK stores almost no gas at all - certainly compared with every other major W European country. The Govt (both parties) refuse to legislate as the energy companies didn't want to pay for it so we've got about a 24 hour cushion. The pious hope is we can up production from elsewhere if one of the major fields/plants goes down - Good Luck!
BV you have to remember Mirasol spends much time going from UK oil board to board always negative, likely agenda driven planning for utopian all electric futes powers by unicorn droppings...
Mirasol, how many years ago was that, I presume there was no demand at that time. policy is now changing with climate change thus demand will hopefully increase.
"What are you suggesting they store anyway?"
Hydrogen.
The gas storage option was looked into. It turned out to be expensive. A simple google search will get you to a lengthy report into it. What are you suggesting they store anyway?
The 8 mile pipeline will need to be de-commissioned at some stage anyway.
Yanis, I'm still wary but i'm more positive than before, we all agree this company needs a kick up the backside.