6th Jan 2022 17:36
(Alliance News) - UK Oil & Gas PLC has announced on Thursday that its appeal against Surrey county court to refuse planning consent for its Loxley gas drilling project has been recovered by the secretary of state.
This means the secretary of state for levelling up, house & communities will now make the final appeal determination, using the planning inspector's report and recommendation.
UKOG said this may extend the expected timeline, which had been the first quarter of 2022.
"The lack of weight given to future UK domestic gas supply and the resultant increasing import dependency exposes the UK economy and consumers to upwards gas price volatility and decreasing security of supply. New domestic gas, such as Loxley, could help mitigate this situation," the company stated.
Shares in UK Oil & Gas closed flat at 0.10 pence on Thursday in London.
By Elizabeth Winter; [email protected]
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