Correction Operator Approval Contractor Appt

EnergyPathways PLC

14 January 2025

 

14 January 2025                                            

The following amendment has been made to the announcement titled "Operator Approval and Contractor Appointment" released at 7:00:06 a.m. on 13 January 2025 under RNS number 0556T ("the Announcement").

The Announcement should have stated that Production operations at MESH are expected to start from the end of 2027 to ensure a reliable and secure supply of energy for the UK. This amendment has been made below. All other details remain unchanged.

EnergyPathways plc

("EnergyPathways" or the "Company")

Licence Operatorship Approval and Contractor Appointment

EnergyPathways plc (AIM: EPP), an energy transition company developing low carbon integrated energy solutions in the UK, is pleased to announce Licence Operatorship approval for Block 110/4a that includes the Company's Marram Energy Storage Hub project ("MESH") and a subsea engineering service agreement with PDi Ltd ("PDi").

The Company announces that the North Sea Transition Authority (NSTA) has granted approval to EnergyPathways for the Licence Operatorship of Block 110/4a. This is an important milestone for the development of MESH and a prerequisite for the upcoming submission of the Field Development Plan ("FDP") and Environmental Statement ("ES").

Additionally, the Company has selected PDi to provide engineering study support to Marram field development regarding the tie-in connection of MESH as part of pre-Front End Engineering and Design ("FEED").  The appointment of PDi follows the recently announced appointment of Wood plc as project lead engineering partner for MESH, as EnergyPathways and these appointed contractors progress the MESH project through the engineering, construction, commissioning and management phases.

Ben Clube, CEO of EnergyPathways plc said:

" We are delighted to announce the NSTA's approval for the Licence Operatorship for  Marram Block 110/4a which is an endorsement by Government authorities of our operating capabilities and is a necessary milestone to keep us on track towards our plans to achieve FID on MESH later this year.

"We are also pleased to welcome PDi into the MESH consortium, providing support to EnergyPathways as we progress MESH through the pre-FEED process.  PDi is a highly experienced UK company that is a leader in the provision of project management with specific subsea capabilities relevant to MESH.

"This winter's conditions highlight the importance of the need to increase the UK's natural gas and energy storage capacity to improve its energy security and to alleviate the impact of volatile global energy prices on UK household budgets."

About MESH

MESH is a new large scale energy storage facility that is expected to provide a secure and dependable supply of natural gas and green hydrogen for the UK market for over 20 years. MESH is expected to be the UK's largest natural gas and hydrogen energy storage facility and will be able to store in excess of 500 million therms of energy. Production operations are expected to start from the end of 2027 to ensure a reliable and secure supply of energy for the UK.  MESH has been designed as a fully decarbonised and electrified zero emission facility that is to be powered by the renewable wind farms of the UK Irish Sea region. EnergyPathways aims to play a leading role in supporting the UK's energy transition and development of a hydrogen economy.

About PDi LTD

PDi is a leading provider of project management, subsea & topsides engineering consultancy and technical secondment services to the energy sector with specialist expertise in subsea, topsides engineering and decommissioning activities.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018). The Directors of the Company are responsible for the contents of this announcement.

Investor Engagement with EnergyPathways

Engage with us by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here:

https://energypathways.uk/link/5Pbmwr

Enquiries:

EnergyPathways Ben Clube / Ben Hodges	Tel: [phone], c/o Buchanan (Financial PR) Email : [e-mail]
Cairn Financial Advisers LLP (Nominated Adviser) Jo Turner / Louise O'Driscoll / Sandy Jamieson	Tel: [phone]
SP Angel Corporate Finance LLP (Broker) Richard Hail / Adam Cowl	Tel: [phone]
Global Investment Strategy UK Limited (Joint Broker) Callum Hill / James Sheehan	Tel: [phone]

For further information on EnergyPathways visit www.energypathways.uk and @energy_pathways on X (formerly Twitter).

 

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