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UK Oil & Gas Investments ( (GB:UKOG) ) just unveiled an announcement.
UK Oil & Gas PLC has announced the completion of preliminary project design for its new underground hydrogen storage facility in South Dorset, which offers significant advantages over their previous site in Portland. The new design allows for increased storage capacity, reduced development costs, and a strategic location closer to planned hydrogen infrastructure. As a result, the company will focus on this project and another in East Yorkshire, discontinuing efforts at their Portland site to better align with government decarbonization targets and secure revenue support.
More about UK Oil & Gas Investments
UK Oil & Gas PLC is a company focused on the energy industry, specifically in hydrogen storage solutions. They are working towards developing large-scale underground hydrogen storage facilities to support the UK’s decarbonization efforts and Clean Power 2030 ambitions.
YTD Price Performance: 5.00%
Average Trading Volume: 119,454,558
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: £2.72M
See more data about UKOG stock on TipRanks’ Stock Analysis page.