Last checked at 7 Jun 2022 16:21
UK Oil & Gas PLC
("UKOG" or the "Company")
Successful Loxley Planning Appeal Outcome
UK Oil & Gas PLC (London AIM: UKOG) is delighted to announce that the Right Hon Stuart Andrew MP, Minister for Housing acting for the Secretary of State ("SoS") for Levelling Up, Housing and Communities has overturned Surrey County Council's ("SCC") refusal of planning consent for its wholly-owned Loxley conventional gas and hydrogen feedstock project. With both planning and environmental consents in hand the Loxley gas project can now, finally, proceed ahead.
SCC twice refused planning consent, going against the advice of its planning officers, forcing UKOG to undertake a lengthy and costly appeal process. In January of this year the SoS recovered the appeal from the Planning Inspectorate.
The Company has also consistently stated that it envisages Loxley to play its part in the government's Hydrogen Strategy via the supply of its gas as feedstock for reformation into clean burning hydrogen, an energy source with an 85% reduction in related carbon emissions versus natural gas.
Stephen Sanderson, UKOG's Chief Executive commented:
"We welcome this decision and its backing for Loxley's gas as a secure, sustainable energy source with a far lower pre-combustion carbon footprint than imports. Backing UK domestic gas makes strategic, economic and environmental good sense. We look forward to moving the Loxley project forwards and to working constructively with the local community."
For further information, please contact:
UK Oil & Gas PLC |
| |
Stephen Sanderson / Matt Gormley / Allen D Howard
| Tel: 01483 941493 | |
WH Ireland Ltd (Nominated Adviser and Broker) |
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James Joyce / Andrew de Andrade
| Tel: 020 7220 1666 | |
Communications |
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Brian Alexander | Tel: 01483 941493 | |
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.