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Dorset green hydrogen generation and import MOUs
Dorset green hydrogen generation and import MOUs.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this information is now considered to be in the public domain.\n \nUK Oil & Gas PLC\n(\"UKOG\" or the \"Company\")\nDorset green hydrogen generation and import MOUs\nUK Oil & Gas PLC (London AIM: UKOG) is delighted to announce that its wholly owned subsidiary UK Energy Storage (\"UKEn\") has executed two Memorandums of Understanding (\"MOU\") with Portland Port Limited (\"PPL\") to jointly pursue the following joint venture hydrogen opportunities centred around the Port and UKEn's material scale South Dorset Storage site (see RNS of 28 January 2025): \ni. Generation of 1 GW¹ of green hydrogen via import by ship of green hydrogen carrier liquids (and/or compressed green hydrogen) into Portland Port. Produced hydrogen gas to be piped locally into UKEn's nearby South Dorset salt cavern hydrogen storage site and then onwards to the wider UK.\nii. a. Generation of green hydrogen via electrolysis within Portland Port. Designed to capture excess 'locally' generated clean renewable (wind) energy in UKEn's South Dorset storage. Stored energy would ultimately be converted to electrical power for future use/demand during low wind/solar periods, thus helping 'cure' the inherent intermittency of renewables (i.e., \"a Hydrogen Battery\").\nb. Hydrogen to power generation ( \"H2P\") within Portland Port. Designed to meet initial power requirements for UKEn's South Dorset Storage site and its environs.\nUKEn intends to formalise these agreements with PPL and will make further announcements in due course.\nThe close geographic proximity of UKEn's South Dorset storage site and PPL's deep-water port, capable of handling Very Large Gas Carrier size vessels (\"VLGCs\"), presents an opportunity to establish a material scale integrated green hydrogen energy hub.\nIf delivered as envisaged, these synergistic developments would constitute one of only three national scale hubs² of the future UK hydrogen system which offer the combination of: material scale onshore underground storage, material scale...