Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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According to a Whitehall source, Centrica and government officials are hoping to end their talks by Monday so that Rough can begin filling up in a matter of a fortnight.
Since 2017, the facility was not used for storage. However, Kwasi Kwarteng (the Business Secretary) requested that it be taken out of retirement in order to increase UK energy security.
The UK gov are in a big hole. They do not have enough gas storage for the winter. Saltfleetby is the largest on shore field with UK government permission to store gas.
Make your own mind up. Some here think Kwasi will ignore the huge storage facilities sat onshore under his nose. I think we will see government money come flooding in soon. Gla.
Given the complexity of the facilities required massive compression both ways new large pipelines etc and the legal complexities of a several years hedge that is going to make far more cash for the 'hedgeors' than storage would make and therefore a need to produce as well as store and then be able to recover the stored gas at very high levels by maintain a cushion (by leaving significant gas in place). Which year would SFB be ready to take gas and more importantly deliver it?
If GL reads this board he's probably loving the excuses put forward on ANGS behalf for the extended 'official' silence.
When an AIM company goes radio silent it's rarely because they're witholding 'good' news - eh lemonleaf.
PS the economics of gas storage depend on buying cheap in the summer and selling for more in the winter - storage is not there to lower gas prices - unless the government legislates - which would mean no storage would be commercial and cause all sorts of issues with the market.
But let's pretend that SFB could be storing gas to lower prices this winter - it wouldn't even if it was operational, BV is correct.
It's in the Share Talk article.
"It can store enough gas to supply winter demand for approximately 10 days, but it is expected to return to around one-quarter of its capacity in winter.
Centrica claimed Rough had reached the end of its “design lives” five years prior and that it could no longer be safely operated there"
https://www.share-talk.com/centricas-site-rough-gas-storage-site-cleared-to-start-filling-up-within-weeks/#gs.8x7i90
re lemonleafs ridiculous "in talks with number 10", I remember the same utter nonsense being posted just before the UKOG fiasco a few years ago.
Rampers are so predictable in their desperation to encourage people to buy with the sole intention of lining their own pockets.
Their constant chants of "do one" and "leave if you don't like it", are due to their inability to argue their own position, process facts, or act with any integrity.
Sonic, someone posted the article yesterday, the 10 days is full capacity but only 25% could be available this winter.The gas price will still rise no matter what the storage is anyway because of the demand v supply issue. P.S. Australia has just given the gas markets some bad news "natural gas news"
where did you see 2.5 days?
Says 10 days here.
https://www.energyvoice.com/oilandgas/north-sea/429682/centrica-wins-first-approval-to-reopen-uks-biggest-gas-storage-site/
WG/ HITS, how much did you lose being here for 5 years OUCH!!!!!!
Lemon, the storage at Rough could only hold 2.5 days capacity this winter anyway, the USA has limited storage also if you read "natural gas news"
Because Adrian Centrica is a competent massive company and the project is imminent and timely.
Angus on the other hand, are incompetent beyond compare, a penny stoke minnow close to being viewed as a going concern, and the project has already been dismissed and would be 5 years for a professional outfit to complete, not the shambles that is Angus.
WG/HITS, the storage means sod all to the high gas price, the reason being that demand is currenly outstripping supply on the global markets. The Centrica article mentioned that the company would make hundreds of millions more profit due to the expected higher Winter prices.
Downing Street officials and Centrica are aiming to conclude their talks in time for the company to begin filling up Rough in the next two weeks.
Centrica could begin pumping natural gas into the UK’s largest storage facility within a matter of weeks, after it was cleared to reopen by safety inspectors
The owner of British Gas could begin pumping into the Rough facility as soon as September, after securing approval from the Health and Safety Executive, according to The Telegraph.
This means the only remaining obstacles to reopening the site are an agreement between Centrica and the Government on state support, and final consent from the North Sea Transition Authority (NSTA).
Downing Street officials and Centrica are aiming to conclude their talks in time for the company to begin filling up Rough in the next two weeks.
https://www.msn.com/en-gb/money/other/uk-s-largest-gas-storage-site-could-be-reopened-within-weeks-to-ease-winter-crisis/ar-AA10IPFB?ocid=msedgntp&cvid=b569f94f961f46e8adbb249401140833
Maybe you would like to explain this then !!
You talk such tripe,it’s unbelievable.
Dear me the desperation.
The storage angle was looked into by Wingas /the Russian federation. Saltfleetby was the second choice by the way and the costs involved were well beyond anything Angus could cope with£200 Million just for the pipeline back then.
The Gov seems to have gone down a different route with LNG and by the time this was built Gas will be being back to sensible prices and gas boilers illegal to install.
The chances of GL being at number 10 are as likely as Gavin RT00 pool boy telling the truth!
He could well be on Holiday at some exotic location with Boris however, playing an old Etonian game of making up the biggest whopper that mugs will fall for!!
Well said
And how long should that take? Five minutes?
I’m not saying there won’t be an RNS some time announcing sales causing the stock to fly. There could be.
But THIS stuff is just palpable nonsense. The government is in purdah. The civil service is preventing any decisions that cost money until the new cabinet is formed as this one has no democratic mandate. There are no discussions in Number 10.
Or if there are (and once again this is a perfectly plausible proposition as the country needs gas storage facilities desperately) they won’t be decided on, let alone announced, until mid September at the very earliest.
Be honest. You know, I know, the whole board knows that this is just a distraction tactic while you wait for this supposedly imminent RNS.
Presumably, a sensitive time when information releases have to be cleared with the NOMAD beforehand.
Have called and awaiting callback or email.
I wouldn't call that Fluff!
George can't talk right now . He is probably busy with ministers at N0 10.
GAS PLANNING The Saltfleetby Gas Field Storage Authorisation Order 2010 Made - - - - 9 September 2010 This Order is made in exercise of the powers conferred by section 4 of the Gas Act 1965(1) and now vested in the Secretary of State(2 WINGAS Storage UK Limited (“the Applicant”) is a gas transporter, being the holder of a licence under section 7 of the Gas Act 1986( ). 3 1. This Order may be cited as the Saltfleetby Gas Field Storage Authorisation Order 2010 and shall come into operation on the twenty-eighth day after the date of service on Lincolnshire County Council of the notice of the making of this Order, except that if it becomes subject to special parliamentary procedure it shall come into operation (if at all) only in accordance with the Statutory Orders (Special Procedure) Act 1945( ). Following a preliminary submission of proposals by the Applicant, the Secretary of State allowed the Applicant to proceed with the proposals in a formal application under the Gas Act 1965. The Applicant submitted to the Secretary of State an application dated 24th October 2010 under paragraph 6 of Schedule 2 to the Gas Act 1965 for a storage authorisation order under section 4 to store gas at Saltfleetby Gas Field, Lincolnshire. Following objections from one of the relevant local planning authorities, Lincolnshire County Council, and from landowners within the storage area and others, the application was the subject of a public inquiry. The Secretary of State has considered the application, the report from the public inquiry and the objections made and is satisfied that all the proper notices have been published or served under paragraph 7 of Schedule 2 to the Gas Act 1965. The Secretary of State has had regard to the safety of the public, the protection of water resources, the desirability of preserving natural beauty, of conserving flora, fauna, and geological or physiographical features of special interest, and of protecting buildings and other objects of architectural or historic interest and the effect which the proposals might have on the natural beauty of the countryside or on any such flora, fauna, features, buildings or objects. Accordingly the Secretary of State makes the following Order: Citation and commencement 4 Interpretation ). 2. (1) In this Order-- (1) 1965 c.36. (2) S.I. 1969/1498, article 2(1) transferred the functions of the Minister of Power to the Minister of Technology and S.I. 1970/1537, article 2(2) transferred some of the functions of the Minister of Technology, including the Gas Act 1965 functions, to the Secretary of State. (3) 1986 c.44. (4) 1945 c.18.
Something is going on because the woman on reception knew my name and said investor relations are aware that your trying to speak to them . News embargo I think
I called them twice yesterday and sent an email . Heard nothing .
When I called the last 2 times had a tweet that day .
I’ve also emailed gl via Twitter and we had a tweet that day
Well volunteered Copland, let us know what they say (there will be no reply) ;)
All the best
Has anyone actually contacted Angus to find out why the information stream has completely dried up? If there has been any material change then they are obliged to tell us but at the moment investors are being left in limbo.