IN BRIEF: Synergia Energy notes Harbour Energy withdrawal from Camelot

Related news

Synergia Energy Ltd - West Perth, Australia-based oil and gas company - Says 50-50 joint venture partner Harbour Energy PLC has withdrawn from the Medway Hub Camelot carbon capture & storage project joint operating agreement and the associated carbon storage license CS019, meaning Synergia Energy’s stake in the project has reverted to 100%. The withdrawal was part of Harbour Energy’s rationalisation of its carbon capture & storage portfolio. Synergia Energy will begin to search for a new joint venture partner.

Chief Executive Officer Roland Wessel says: ‘The company believes the Medway Hub Camelot CCS project has significant technical and commercial merit and has the potential to make a material contribution towards the UK government’s net zero targets, with a target storage rate of up to 6.5 million tonnes of carbon dioxide annually. The company remain committed to progressing the project through to commercial operations.’

Current stock price: 0.049 pence, down 1.0% in London on Friday

12-month change: down 52%

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Ways to help you invest your money

Our investment accounts

Put your money to work with our range of investment accounts. Choose from ISAs, pensions, and more.

Need some investment ideas?

Let us give you a hand choosing investments. From managed funds to favourite picks, we’re here to help.

Read our expert tips and insights

Our investment experts share their knowledge on how to keep your money working hard across the markets.