GEV has secured access to the UK Gas Market through the Port Meridian Project
In 2017, GEV signed a definitive agreement with Meridian Holdings Co. to secure access to the UK port capacity & gas sale rights.
- Gas volume rights of up to 300 MMscf/d of port capacity at Port Meridian (circa 2.3Mtpa LNG equivalent)
- Gas sale rights of up to 300 MMscf/d to Uniper Global Commodities SE (Mkt Cap EU 6.4B; UN01 GY; BBB rated)
- GEV acquired a 5% equity interest in the Meridian terminal for USD $2M
Secures substantial market access to a liquid and transparent gas market in the UK increasing reliant on imported gas.
- Port Meridian is a fully approved deepwater port 37km offshore, North West England
- Unique technical fit for CNG delivery to Europe through an APL buoy system connected to onshore gas processing facilities and the UK grid
- 20 year Gas Sale Agreement in place with Uniper Global Commodities SE
- Priced at UK NBP index, with Uniper Investment Grade guarantee
- Delivered cost of CNG to the UK Market inline with recent NBP trading in the $6 – $8/MMbtu Band