- Energypathways
- 10 February 2025 12:06:38
Source: Sharecast
The AIM-traded firm said the project, which integrates gas production, gas storage, hydrogen storage, offshore wind, and decarbonised power generation, was being designed to provide long-term, secure, and low-carbon energy for the UK.
It said the first phase of MESH would focus on repurposing existing late-life gas infrastructure to create a storage and production facility centred on the Marram Gas Field.
A final investment decision was expected by the end of this year, with initial production targeted for late 2027.
The project would feature a new unmanned offshore platform, Marram A, powered by renewables, with two production wells to be drilled in 2027, followed by two additional wells in 2029 for gas storage.
A new nine kilometre pipeline would connect the platform to an existing gas export trunkline.
EnergyPathways said it was planning to upgrade and repurpose onshore gas facilities using low-emission technology to decarbonise production and storage operations.
Industrial land in Barrow-in-Furness would be used to minimise environmental impact and ensure a timely start-up.
Once complete, the facility was expected to store 500 million to 600 million therms of gas, with withdrawal and injection rates of 1.7 million to two million therms per day.
The company said it was also advancing future plans for an integrated energy system, including hydrogen storage within salt caverns, gas storage applications for the Knox and Lowry gas fields, and engagement with stakeholders on offshore wind power integration and low-carbon energy production.
A concept for offshore gas power generation to complement wind energy had also been completed.
Further studies were underway, including static and dynamic storage reservoir modelling, integrated production modelling, and environmental and seabed survey preparations.
EnergyPathways said those would support the necessary approvals and permitting processes for the next phase of development.
“With the development design for the MESH integrated energy system now framed, we can move forward to deliver a major energy project to support the UK's energy transition ambitions,” said chief executive officer Ben Clube.
“As a large-scale energy storage facility, MESH can play a critical strategic role in providing the UK with a secure and reliable supply of low emission energy for decades to come.
“It can play an important role in helping moderate the impact of international gas prices and energy import costs on household bills.”
Clube said the MESH energy hub was capitalising on “specific regional dynamics”, integrating multiple energy assets to help the UK harness its “considerable” energy resources of the north west of England, including excess and curtailed wind power and regional stranded low emission gas resources.
“By repurposing soon to be decommissioned gas infrastructure, MESH will bring a new lease of life to important UK energy assets being abandoned by the existing oil and gas industry.
“In parallel with the extensive technical work streams outlined above, we continue to engage constructively on MESH project financing.
“What is clear from our engagement with industry and financing stakeholders to date is that there is a clear recognition of the commercial proposition tabled by MESH.”
At 1147 GMT, shares in EnergyPathways were down 9.03% at 6.55p.
Reporting by Josh White for Sharecast.com.
