Business
Future hydrogen-ready energy storage project
Future hydrogen-ready energy storage project.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n \n \n \n UK Oil & Gas PLC\n \n \n \n \n (\"UKOG\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n Future hydrogen-ready energy storage project\n \n \n \n \n \n \n \n \n UK Oil & Gas PLC (London AIM: UKOG) is delighted to announce that its wholly owned subsidiary, UK Energy Storage Ltd (\"UKEn\") has signed an Agreement to Lease (\"A2L\") with Portland Port Limited (\"PPL\") covering two sites at the former Royal Navy port in Dorset, with the intent to develop, subject to new planning consent and securing necessary development finance, a planned integrated Energy-Hub, centred around hydrogen-ready gas storage and a future green hydrogen generation capability. \n \n \n \n \n \n \n UKOG's Portland Energy-Hub concept:\n \n \n \n \n \n \n \n \n As agreed between the parties, UKEn's planned Energy-Hub development concept seeks to reinvigorate and build further upon a prior unrealised project by Portland Gas Storage Ltd, granted planning consent by Dorset County Council in 2008, to situate approximately\n 43 billion ft³ \"bcf\" (1.2 billion m³ or \"bcm\") of underground salt cavern storage beneath PPL's land.\n Utilising established engineering concepts, public record planning submissions, publicly available data, UKOG internal studies and technical, engineering and economic modelling advice from Xodus Group (\"Xodus\"), the planned new Energy-Hub is envisaged to include the following key elements:\n \n \n \n \n \n \n \n ·\n A strategically located hydrogen-ready Energy-Hub within an active harbour site;\n \n \n \n \n \n ·\n Construction of up to 43 bcf (1.2 bcm) of hydrogen-ready salt cavern storage. For context, if this capacity is ultimately achieved it would materially increase the UK's current reported 61 bcf (1.7 bcm) total working underground gas storage capacity. The envisaged hydrogen-ready build also means the site could hold either hydrogen or natural gas from operational inception;\n \n \n \n \n \n ·\n Salt cavern storage would be linked to the national pipeline transmission system (\"NTS\") via a new planned hydrogen-ready pipeline. As per the prior 2008 project, the new pipeline would be designed with an envisaged capacity designed to be capable of handling up to 1 bcf/day (28 million m\n ³\n /day). For context, this throughput capacity, if achieved, ...