16 Aug 2022 07:00
16 August 2022
Savannah Energy PLC
("Savannah" or "the Company")
New Gas Sales Agreement Signed with Notore Chemical Industries PLC
Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce that the Company's 80% indirectly owned subsidiary, Accugas Limited, has entered into a new gas sales agreement ("GSA") with Notore Chemical Industries PLC ("Notore").
Accugas will supply Notore with up to 10 MMscfpd of gas to augment its current supplies. The contracted supply is on an interruptible and reasonable endeavours basis, based on gas availability and nominations, for an initial term of one year, with the option to extend for a mutually agreed period. Notore's fertiliser production plant is connected to the Accugas network via the Nigerian Gas Company pipeline from Ikot Abasi and no further tie-in or capital expenditure is required by Accugas to deliver gas to Notore.
Notore Chemical Industries PLC, formerly Notore Chemical Industries Ltd, is a Nigeria-based integrated agro-allied, chemicals and infrastructure company located in the Onne Oil and Gas Free Zone area of Rivers state in southern Nigeria. Notore's primary business is the production of urea, ammonia and NPK blend fertilisers and sale to the Nigerian and international markets. Notore's facility has a production capacity of 1,500 metric tons (MT) per day of urea and 1,000 MT/day of ammonia.
Andrew Knott, CEO of Savannah Energy, said:
"I am pleased to welcome Notore as a new gas customer to Accugas, representing our tenth customer site in total (versus three at the time of our acquisition of the Accugas business in 2019). We look forward to developing our working relationship with Notore over the course of the coming months and years"
For further information, please refer to the Company's website www.savannah-energy.com or contact:
Savannah Energy | +44 (0) 20 3817 9844 |
Andrew Knott, CEO | |
Nick Beattie, CFO | |
Sally Marshak, Head of IR & Communications | |
Strand Hanson (Nominated Adviser) | +44 (0) 20 7409 3494 |
James Spinney | |
Ritchie Balmer | |
Rob Patrick
| |
finnCap Ltd (Joint Broker) Christopher Raggett Tim Redfern
| +44 (0) 20 7220 0500 |
Panmure Gordon (UK) Ltd (Joint Broker) John Prior | +44 (0) 20 7886 2500 |
Hugh Rich | |
James Sinclair-Ford
| |
Camarco | +44 (0) 203 757 4980 |
Billy Clegg | |
Owen Roberts Violet Wilson |
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 No. 596/2014 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 Nigeria Infrastructure Map
http://www.rns-pdf.londonstockexchange.com/rns/0940W_1-2022-8-15.pdf
Savannah Energy (SAVE)