UK Oil & Gas Investments (GB:UKOG) has released an update.
UK Oil & Gas Investments PLC (UKOG) has revealed plans for a new hydrogen storage site in South Dorset, leveraging the region’s thick Triassic salt deposits for underground storage and connecting to the future southern UK hydrogen network. This strategic infrastructure is set to provide a significant portion of the UK’s 2050 hydrogen storage needs, aligning with the national goal for a decarbonised power system by 2030. The company is moving forward with lease agreements and planning applications, aiming to secure government revenue support for its Dorset projects.
For further insights into GB:UKOG stock, check out TipRanks’ Stock Analysis page.
