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Lol, that's basically it O&W
I have to say that I am in Infa to make a good return on my invested capital by some entity trading gas profitably, and IM earning a leasing fee in the process. I am not here to sort out a UK-wide political mess over national energy policy.
Just get the first deal over the finishing line, please, JW.
Yep good point mcadder. Losing Rough has left a big whole in the gas trading world. The interest shown by offtakers has proved this! Traders just want to trade gas and like JW said in the conference call "all we need to do is get the gas moving" 23 caverns, reversal and twinning the SNIP will certainly get the gas moving!!!! GLA
Plus JW and the rest of the bod can turn round and say to the govt "we told you so" too in proving up the sheer need for the facility.... despite their refusal to ever acknowledge the UK had insufficient storage in part due to the National Grid's position that we have plenty of flexible available gas supplies. No guarantee of security of supply though when there is an outage, cracked pipeline, extreme weather, peak demand plus the decline of gas from the North sea, now Groningen and maybe one day Norway.
is going to be mega.......really exciting week coming!
The government position has always been "the market will respond" Which is exactly what it is doing with islandmagee! We have the demand with interested offtakers and will soon find out who our equity partners are to help us supply that demand. Then the government will just say "we told you so"
Certainly worth the effort writing to your MP Snowman with trying to spread the word even if the answer you get back isn't the one we usually expect. The one good thing here though is that if we potentially get 4 offers of finance from 4 stakeholders and the EU grant by Feb it would be an embarrassment to the govt who have so far refused to subsidise investment in gas storage. On the plus side for us though they (the govt) will not be able to take any credit for getting this asset of national importance developed.
So what do we know so far? That we have received 3 term sheets from stakeholders with potentially another one winging it's way to us. Plus the expectation for offtakers to pile in here in quick succession straight after equity funding news which is due any day now. Then Jeremy Clarkson might say....Probably the best gas storage facility.........in the world
Sent this to my MP just now. Chris Skidmore who just happens to be Minister of State for BEIS.
Dear Chris,
After the hard lessons learnt from the Beast From The East last winter, and forecasts of another harsh winter this year, I was shocked and dismayed and feel quite let down by the attitude of the BEIS towards UK gas storage.
The BEIS failed to listen to the views forwarded by leading industry professionals which mirrors the views of the common people and is also pure common sense.
There is a perfectly poised project at a very advanced stage at Islandmag, for 8 (which may expand to 23) salt caverns below Lough Larne, County Antrim that can offer extremely flexible rapid gas injection/withdrawal speeds that can ensure continued uninterrupted gas supply in times of uncertainty.
There are other gas storage projects also feasible but none nearly at so advanced a stage as Islandmagee which has enormous capacity. This is a project that the UK Government should be extremely proud of. It involves world class companies and a world class BoD who have delivered all 16 milestones of the Front End Engineering Design (FEED) of the project, within time and below budget.....extremely impressive. The company, Infrastrata, deserves full Government support and backing as it can virtually singlehandedly solve the UK continuity of gas supply issue in all scenarios.
The powerful GMB have now exercised their view on the matter http://www.gmb.org.uk/newsroom/winter-heating-crisis as have many serious organisations and indeed prominant UK politicians such as for example Lord Lawson.
I urge you and the BEIS to reconsider your views in the face of mounting evidence and critisism from a fast increasing number of sources.
Kind regards.
(Lord) Nigel Lawson has just given BEIS a well-publicized bolloc-king. We live in hope!
Nice one Tony. It is inevitable that eventually common sense will prevail and the extremely short sighted and incompetent BEIS will be forced to accept the vital need for gas storage in UK.
GMB also joining ranks vs BEIS.
http://www.gmb.org.uk/newsroom/winter-heating-crisis
https://blogs.spectator.co.uk/2018/12/if-britain-cant-keep-the-lights-on-this-winter-will-the-eu-be-to-blame/amp
Some key points -
Britain’s ability to keep the lights on has just been thrown into doubt by the European Court of Justice. It has ruled that the backbone of the UK’s capacity market energy scheme, which pays power stations to generate electricity, is illegal state aid and must be suspended. To call this a body blow for energy security is a gross understatement; as you read these words Whitehall is desperately trying to reassure generators and very nervous investors.
A short term fix to try and secure enough power for this winter is planned but this is likely to mean much more imported power through undersea interconnector cables from the continent.
Remaining tied to EU policy, as set out in the Prime Minister’s deal entails a series of important concessions and cross-Channel energy supply commitments which will primarily benefit the European market and its generators. These include proposals from the Commission for the mandatory sharing of gas supplies which could lead to gas rationing in the UK following a severe weather front in Europe alongside a gas supply crisis there. This drive for more interconnection on gas and electricity is a leading pillar in the EU’s new ‘Energy Union’ proposals. UK plans to double imports of EU electricity come at a time when spare supplies on the continent are falling.
...still not available on the company's website!!!!
An interesting independent cross-party group
https://www.policyconnect.org.uk/cc/
p. 18, 19, 20 indicates their support for salt cavern storage
https://www.policyconnect.org.uk/cc/sites/site_cc/files/report/676/fieldreportdownload/nextstepsforthegasgridweb.pdf
Hi loosegoose,
Good to meet you on Wednesday and great to have someone of your background/experience seeing the potential here, validation of a plumbers research!!
I was thinking you could buy some more without telling your wife ;))))........
I would imagine a million shares split into 3 phases ?
Codes are *******s However a lot of warrant conversions have ended in 333 or 666
apart from todays RNS :))
But yes... fully agree. The idea that there are codes in itself means there can be no codes.
codes dont exist m8,only in peeps imaginations and rampers,with their one codes
there were about five 1 codes yesterday.....but not one rns today?
Is the figure of 333,333 relevant as some sort of code or just coincidental?
Pity there wasn't more time for tick ups to continue! Roll on next week!
GLA
Nice action later this afternoon. Am waiting for the normal pattern of a few low balled sells to come through. On the other hand a change in pattern would make the first glass of wine taste oh so much better. BTW, nice to meet many of you earlier this week and greetings from Switzerland!
Probably just to pay for the Xmas party .. circa £25k