Business
TotalEnergies Statement re the Shetland Gas Plant
TotalEnergies Statement re the Shetland Gas Plant.
About this update from Kistos Holdings Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (UK MAR). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n6th December 2023\n\n \nKistos Holdings plc\n \n(\"Kistos\" or \"the Company\")\n \nTotalEnergies Statement re the Shetland Gas Plant\n \nKistos (LSE: KIST), a joint venture partner in the Greater Laggan Area and co-owner of the Shetland Gas Plant, today provides an update on the recent shutdown of the plant.\n \nTotalEnergies the operator of the plant has released the following statement;\n \n\"Yesterday an element of the heating medium system at Shetland Gas Plant failed, resulting in a release of steam. Personnel were called to muster and everyone has been accounted for. Thankfully everyone is safe and well. To help us investigate the situation, we shut down the plant. Production remains shutdown whilst we conduct an investigation into the incident. Separately, we are also assessing when it will be safe to restart production. We will not restart production until it is safe to do so.\"\n \n \nKistos remains in regular contact with the operator and will provide further updates as appropriate.\n \n \nFor the purposes of UK MAR, the person responsible for arranging the release of this announcement on behalf of Kistos is Andrew Austin, Executive Chairman.\n \nNotes to editors\n \nKistos plc was established to acquire and manage companies in the energy sector engaging in the energy transition trend. The Company has undertaken a series of transactions including the acquisition of a portfolio of highly cash generative natural gas production assets in the Netherlands from Tulip Oil Netherlands B.V. in 2021. This was followed in July 2022, with the acquisition of a 20% interest in the Greater Laggan Area (GLA) from TotalEnergies, which includes four producing gas fields and a development project. In May 2023, Kistos completed its third acquisition, acquiring the total share capital of Mime Petroleum and its Norwegian Continental Shelf Assets. These comprise a 10% stake in the Balder joint venture spanning B...