UKOG Secures Funding for Strategic Hydrogen Storage Site in East Yorkshire

Wedoany.com Report-Nov 20, UK Oil & Gas (UKOG) has raised £500,000 ($632,000) from investors to purchase land in East Yorkshire for a salt cavern hydrogen storage site.

UKOG has stated the project will be located at the UK’s “most extensive and thickest salt deposit and a key nationally strategic area for future hydrogen and existing natural gas storage.”

The farmland development area provides direct access to the North Sea for the brine necessary to dissolve the caverns and it will benefit from nearby material infrastructure projects, which will “greatly increase the likely probability of securing the necessary Development Consent Order (DCO).”

Furthermore, the salt cavern project will lie adjacent to the first construction phase of the National Gas’ Project Union hydrogen pipeline network and is situated near the East Coast hydrogen cluster.

H2 View understands that the acquisition of the site, along with UKOG’s Dorset sites, would provide the company with one of the largest single portfolios of potential salt cavern storage sites in the UK.

Additionally, UKOG will advance discussions with an energy infrastructure investor regarding participation in UKEn’s current Dorset and Yorkshire projects.

Stephen Sanderson, UKOG’s Chief Executive, commented on the new site. “The property is located firmly within the government’s East Coast Track hydrogen cluster and adjacent to the first phase of connection to Project Union, the planned national hydrogen pipeline network,” he said.

“Together with our primary Dorset project, the addition of this site will help grow the company’s hydrogen storage portfolio to one of the largest in the UK and position us to take advantage of the government’s planned Hydrogen Storage Allocation Round in 2025.”