678: Andrew Knott, CEO of Savannah Energy discusses the extension of their gas sales agreement

The Vox Markets Podcast

Andrew Knott, CEO of Savannah Energy #SAVE discusses the extension of their gas sales agreement by Accugas Limited, the Company's 80% indirectly owned subsidiary, to First Independent Power Limited by up to 65 MMscfpd from the current agreement of up to 35 MMscfpd.

Highlights

Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce that Accugas Limited ("Accugas"), the Company's 80% indirectly owned subsidiary, has signed an addendum to its existing interruptible gas sales agreement ("IGSA") with First Independent Power Limited ("FIPL"), originally signed on 28 January 2020.

Accugas currently supplies up to 35 MMscfpd of gas to FIPL's Afam power plant. Under the terms of the addendum, FIPL will be able to increase the quantity of gas purchased from Accugas to up to 65 MMscfpd so as to also supply the Trans Amadi and Eleme power plants, in addition to its Afam power plant. FIPL's power plants have a total generation capacity of 391 MW, with the Trans Amadi and Eleme plants having generation capacities of 136MW and 75 MW, respectively. All three plants are located in Rivers State.

FIPL is an affiliate company of the Sahara Group, a leading international energy and infrastructure conglomerate with operations in over 42 countries across Africa, the Middle East, Europe and Asia.