Savannah Petroleum-Erratum

Savannah Petroleum

Excellent news for Savannah this morning as they announce that Accugas has entered into a new Interruptible Gas Sales Agreement (IGSA) with First Independent Power Ltd (FIPL) to provide gas to its Afam power plant. FIPL is an affiliate of the Sahara Group, a leading international energy and infrastructure company operating in over 42 countries.

Afam has a current power generation capacity of 180 MW and the IGSA envisages supply of gas produced by Uquo from Accugas to FIPL Afam with a maximum daily quantity of 35 mmscfd for an initial term of one year and a potential extension, should opportunities be mutually agreed. Indeed this is for Accugas its first new GSA in 5 years and partnering with the Sahara Group should be the beginning of a potentially major new partnership with possibilities for more contracts to be signed this year.