Proactive Investors - UK Oil & Gas PLC (LON:UKOGa) will again defend plans to produce gas and later develop a hydrogen storage site near Guildford in London’s High Court on Thursday.
Alongside secretary of state Suella Braverman, UKOG will argue against opponents of plans to convert the Loxley gas discovery in Surrey into a blue hydrogen storage site once the well has been depleted.
“The Company and its counsel remain firmly of the opinion that the Secretary of State's decision to grant planning consent for the Loxley project was entirely lawful,” UKOG said.
“A judgement is expected to be handed down later in the summer.”
AIM-listed UKOG has previously forecast that Loxley’s gas could be worth up to £124mln, with the site then providing storage for over 31bn cubic feet of hydrogen - a tenth of National Grid’s anticipated requirement by 2035.
A High Court ruling in October had rejected challenges against the secretary of state’s decision to grant UKOG planning permission for the Loxley deposit.
Surrey County Council had also initially refused permission, though the government overturned the decision in June last year, with UKOG arguing the site could aid the UK’s hydrogen strategy.
UKOG shares remained flat on Thursday after spiking at the open.