Last checked at 27 Jun 2022 07:00
27 June 2022
Savannah Energy PLC
("Savannah" or the "Company")
First Gas Sales to the Central Horizon Gas Company Limited
Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce that Accugas Limited ("Accugas"), the Company's 80% indirectly owned subsidiary, has commenced gas sales to Central Horizon Gas Company Limited ("CHGC"), a subsidiary of Axxela Limited ("Axxela"), and a major gas distribution company situated in the South-South region of Nigeria.
As previously announced in February 2022, Savannah signed an interruptible gas sales agreement ("GSA") with CHGC to supply up to 5 MMscfpd daily for an initial one-year period. CHGC operates a 17km gas pipeline infrastructure network with a throughput capacity of 50 MMscfpd, which provides natural gas to industrial and commercial customers in the Trans Amadi Industrial Area of Port Harcourt as well as the Greater Port Harcourt Area, Nigeria.
CHGC is majority owned and controlled by Axxela, which delivers natural gas to over 185 industrial and commercial customers via its gas infrastructure network across cities in Nigeria including Lagos and Port Harcourt.
Andrew Knott, CEO of Savannah Energy, said:
"We are very pleased to have operationalised our gas sales agreement with CHGC, our third new customer facility we have connected with this year. The rapid progress we have made to diversify and increase Accugas' customer base since acquiring the business has been significant. I would like to thank and commend the Accugas and CHGC/Axxela teams for having worked together so well to achieve the first gas sales milestone so quickly after GSA signature."
Commenting on behalf of Axxela, Chief Executive Officer, Bolaji Osunsanya, said: "This interruptible gas sales agreement reinforces our continued commitment to be the energy partner of choice to our customers. We believe that with this partnership, CHGC can further provide flexibility and supply assurance to our growing customer base within the Greater Port Harcourt area and its environs".
For further information, please refer to the Company's website www.savannah-energy.com or contact:
| Savannah Energy | +44 (0) 20 3817 9844 |
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| Andrew Knott, CEO |
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| Nick Beattie, CFO |
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| Sally Marshak, Head of IR & Communications |
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| Strand Hanson (Nominated Adviser) | +44 (0) 20 7409 3494 |
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| James Spinney |
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| Ritchie Balmer |
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| Rob Patrick |
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| finnCap Ltd (Joint Broker) Christopher Raggett Tim Redfern | +44 (0) 20 7220 0500 | |||||||||||||
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| Panmure Gordon (UK) Ltd (Joint Broker) John Prior Hugo Rich James Sinclair-Ford | +44 (0) 20 7886 2500 | |||||||||||||
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| Camarco | +44 (0) 20 3757 4983 | |||||||||||||
| Billy CleggOwen RobertsViolet Wilson | ||||||||||||||
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The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation (EU) No. 596/2014, which forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended), and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
About Savannah Energy
Savannah Energy PLC is an AIM quoted British independent energy company focused around the delivery of Projects that Matter in Africa and is active in Cameroon, Chad, Niger and Nigeria.
Further information on Savannah Energy PLC can be found on the Company's website: www.savannah-energy.com.
South East Infrastructure Map
http://www.rns-pdf.londonstockexchange.com/rns/2090Q_1-2022-6-26.pdf
About Axxela
Axxela Limited ("Axxela") is a pioneering private sector-led developer of natural gas and a designated natural gas shipper on the West African Gas Pipeline (WAGP), delivering natural gas to over 185 industrial and commercial clients via a vast network of gas infrastructure.
With over 300km in gas pipeline infrastructure built, Axxela provides unique energy solutions primarily through its subsidiaries: Gaslink Nigeria Limited, Gas Network Services Limited, Central Horizon Gas Company Limited, and Transit Gas Nigeria Limited. www.axxelagroup.com