Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Delo urges strategic thinking about infrastructure
2. October, 2022
Ljubljana – When it comes to infrastructure, it is urgent to think strategically, for years ahead, especially if the country wants to make a development breakthrough, Delo says in Saturday’s front-page commentary Thinking Several Years Ahead. It says that gas infrastructure shows Slovenia has failed to strategically develop its infrastructure.
While doing well in road infrastructure, Slovenia lags behind in developing railways, while countries in its neighbourhood are investing heavily in transport corridors.
But infrastructure is also energy and telecommunications lines, gas pipelines, power stations, key health facilities and more.
Since it is clear we cannot have everything because it we not wealthy enough, the country should make priorities, Delo says, adding that a second unit at the Krško nuclear power station seems to be very high on the list of priorities.
But since such a facility cannot be built overnight, so all the procedures for it should be hurried up, especially as other countries will also want to build and bottlenecks may arise with equipment manufacturers.
Given the changed geostrategic situation, it is also necessary to think about gas security, which Slovenia has neglected in the past.
While it is unlikely that we will have our own terminal for liquefied gas on our short coast, it is high time to build an underground storage facility and strengthen pipeline links with neighbouring countries to ensure uninterrupted supplies. “It is the area of gas that shows the country has failed to strategically develop its infrastructure”.
SOURCESTA
TAGSinvestmentPress
Slovenia ready to nationalise energy firms if necessary
By Sebastijan R. Macek | sta.si
5:46 (updated: 7:48)
The state already owns majority or outright stakes in power utilities and media reports suggest Geoplin, the country’s largest gas distributor, is the most likely target. [EPA-EFE/STEPHANIE LECOCQ]
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The Slovenian government will nationalise energy firms if necessary to guarantee supplies as Prime Minister Robert Golob announced on Tuesday (27 September) that €750 million has been set aside for this purpose in 2022’s revised budget.
It is quite possible that soon, within the next month, Slovenia will have to nationalise an energy company. “This is not about socialism or communism, but about tackling the energy crisis and ensuring a stable energy supply,” the prime minister said.
The state already owns majority or outright stakes in power utilities and media reports suggest Geoplin, the country’s largest gas distributor, is the most likely target.
Indeed, Golob mentioned the recent nationalisation of Germany’s leading gas importer Uniper as he was explaining the reasons for the move.
The state owns a controlling 25% stake in Geoplin while the rest is in the hands of Petrol, the partially state-owned energy group. Earlier this week the shareholders named a new CEO at Geoplin.
Geoplin has been at the centre of Slovenia’s efforts to secure non-Russian gas. According to multiple media reports, it is currently in talks to secure Algerian gas via Italy.
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Following this week's ESG Strategy & Ops. update, the Executive team of Ascent invite shareholders to meet with them in Manchester 9th Feb from 4-6pm. Please register your interest to attend by emailing info3@ascentresources.co.uk
LJUBLJANA - The Infrastructure Committee voted down in a 10:9 vote an opposition-sponsored bill to fully ban hydraulic fracturing. This was the fifth attempt at banning fracking in Slovenia to prevent British company Ascent Resources to extract hydrocarbons in the north-eastern Prekmurje region. Nataša Sukic of the Left said after the repeated rejection of the motion that the initiators would not give up as there was enough overall support for the motion.
Low-volume fracking to be allowed under new legislative proposal
Ljubljana, 12 January - The government has adopted amendments to the mining act under which low-volume hydraulic fracturing would be allowed but high-volume fracturing banned, legislation that paves the way for fracturing in the only location in Slovenia where it is currently being explored, the Petišovci gas field in the east.
Parliament votes fracking ban fit for further reading
LJUBLJANA - The National Assembly backed a proposal for a ban on hydraulic fracturing in Slovenia, tabled by three centre-left opposition parties, on first reading in what is the fifth attempt to thwart British company Ascent Resources's fracking plans in the north-eastern Prekmurje region. The relevant amendment to the mining act, sponsored by the Left, Marjan Šarec List (LMŠ), and Social Democrats (SD), would ban the extraction of hydrocarbons by fracking in Slovenia
Not sure whether anyone had posted this info, ref Slovenia News Sept 10th.
LJUBLJANA - The opposition Left, Marjan Šarec List (LMŠ), and the Social Democrats (SD) filed a bill to ban hydraulic fracking in Slovenia in what is the fourth attempt at trying to prevent drilling plans of the British company Ascent Resources in Petišovci (NE). The move comes as the government was expected to adopt today its set of changes to the mining act, which the opposition sees as disguised support for fracking.
Although the RNS after hours was disappointing to some , it was only due to the fact that we were not going to be paid £20 million - ish - (, numbers touted by various sources ) numbers of which the RNS after hours indicated were way of the mark - RNS - £100+ !!!
With more important things happening in the world at the moment , I would not be to surprised if the first question asked by Slovenia representatives would be how long have we before we reply - “ March 2021 “ , ok let’s look at it nearer the time ( I presume you are on about the English crowd who didn’t have much joy extracting gas out of the ground ? we can always extend it. ? = yep. ):
I not 100% sure that there has been a great deal of negotiations between the two parties ( the odd zoom call maybe , although they might have met each other in early Feb ? Unless they decided to drive their ?!.
Ascent did not announce on Friday that unfortunately the Drill that they invested £10million on is to be plugged and abandoned ( That would be to 2p !!!! ).
With just over 100 mill shares in play , this makes Ascent a different proposition all together as an investment, ( unfortunately at the cost to LTH’s = I invested in Ascent 15 yrs @ago , so I am definitely a long term holder !!! )
The BOD have won the lottery being given the chance of running this company , even more so , when stumbling across the Treaty ( obviously previous boards weren’t aware of it ? , if so makes it even worse ! )
Although not a great deal has happened in the last 8 months , I don’t think a great deal has happened anywhere in the last 8 months , priorities have changed .
ASCENT IS NOT A PRIORITY !!
Whether in Slovenia , Cuba , or anywhere at the moment - but hopefully will be in the future .
It might be worth remembering before people go into meltdown on opening share price ( Me included. !! ) the one advantage , sorry huge advantage that Ascent has is the amount of shares in play , you might well see 20- 50 % swings on Monday , pings advice seems sensible to maybe hang fire and let things settle down and wait for RNS confirming the state of play ,
Pi,s like myself don’t know enough to start day trading - certainly Monday won’t be the time to start !!
3. Project location
4. Preliminary project timetable
Project stage/activity
The planned PCI 6.23 will be located in Slovenia and Hungary. The gas pipeline will run from Kidricevo to Lendava in Slovenia, where it will connect to the Hungarian gas transmission system at the IP Pince/ Tornnyiszentmiklós. From Tornyiszentmiklós it will continue on the Hungarian territory to Nagykanizsa.
The Slovenian part of the PCI, the project R15/1 Pince - Lendava – Kidricevo, will be located in the far eastern part of Slovenia. The planned pipeline area's constraints are determined by the surrounding settlement, the course of
the existing and planned infrastructure facilities and, as a basic guide to the integration of the infrastructure, the shortest route between both points of contact.
The area is determined by the initial and the final point of the considered transmission line, which is defined by the interconnection point of the transmission pipeline on the Slovenian- Hungarian border to the east, just south of Pince, and the Compressor Station Kidricevo to the west, where the new pipeline will connect to the existing Slovenian transmission system.
Date of request/ Date of decision/ start date end date
Final investment decision (FID) Permit granting Construction Commissioning
6/2019 7/2019
6/2020 6/2022
10/2020 12/2023
12/2023
You could argue the fact that most if not all of the restrictions thar prevented Ascent from developing the gas field , have now largely been addressed since the notice was issued - New Regs ( Enviromental , shallow fracking , NGO involvement ....( maybe more ) ? ) , resulting in the field now being in play to develop ,
By who is the question ?
One thing I think will happen under this government is the field will be developed at some point , probably in timescale wise similar to when the gas pipe is installed going through the Petisovci Oil Field car park !
What is more, fracking must not come into contact with an aquifer and must not cause damage to other activities near the drilling wells.
Answering a question from the opposition earlier this week, Infrastructure Minister Jernej Vrtovec said that the changes "are substantially more restrictive than the provisions proposed by the European Commission," because the latter does not find low-volume fracking dangerous and does not regulate it.
"The technological method, just like any dangerous technological in the industry, will be safe for the people, the environment and nature," Vrtovec said in written answer to SocDems MP Dejan Židan.
The changes were put up for public consultation by the Infrastructure Ministry two weeks ago and stakeholders have until 22 January to comment.
The British company Ascent has been trying for years to get approval for fracking in Petišovci, NE, while left-leaning parties have attempted to get fracking banned three times.
Just for clarity these fracking numbers are the same that Ascent were using on their wells ( as stated in the Notice of Dispute letter sent to the Slovenia Government )
3.4. As you may be aware, low-volume hydraulic stimulation is a process used to increase the production
of gas wells, whereby water is injected into the soil substrata in order to stimulate the gas production.
Low-volume hydraulic stimulation involves the injection into a well of less than 1,000 m3 of water
per fracturing stage or less than 10,000 m3 of water during the entire process. It is distinct from high-
volume hydraulic simulation, which involves the injection of water above these volumes.
I think we are approaching the end game ref these negotiations now.
The small amount of shares in play along with a potential cash settlement in the near future,( No requirement for share Dilution!!!!!! ) with little debt, makes this an absolute gift you will rarely see in an Aim company if ever.
Take advantage, and remember to take a profit on the way.
Govt wants to ban high-volume fracking
LJUBLJANA - The government has drafted mining act changes, under which high-volume fracking would be prohibited in Slovenia. The changes also lay down a number of conditions for low-volume fracking. The changes draw the limit between low-volume and high-volume fracking at 1,000 cubic metres of water per fracking phase or 10,000 cubic meters per entire fracking procedure.