Angus Energy strikes gas construction deal with National Grid

Angus Energy updated the market on progress made on its interests at Saltfleetby on Thursday, reporting that its wholly-owned subsidiary Angus Energy Weald Basin No.3 has entered into a gas construction agreement with National Grid.

The AIM-traded firm said the deal was around the works to be carried out on National Grid’s property.

Under the agreement, National Grid has agreed to carry out the works required for the design and construction of facilities at Theddlethorpe.

Long lead items had been ordered, and construction remained in line with Angus Energy’s project schedule, it said.

“This is an important step in getting Saltfleetby fully reconnected and ready for gas exports,” said managing director George Lucan.

At 1616 BST, shares in Angus Energy were up 17% at 0.88p.