PROVARIS ENERGY LTD Qua r te r ly Activ it ie s R ep or t
J une 20 22
onlySYDNEY, 25 July 2022: Provaris Energy Ltd (ASX: PV1, Provaris, the Company) is pleased to provide the following update on the Company's development activities for the quarter ended 30 June 2022.
TIWI H2 PROJECT
• Completion and lodgement of the Referral submission to the Northern Territory (NT) Environmental Protection
Authority (EPA). | |
use | |
• | Advanced the project's Conceptual Design for completion in July 2022, which covers solar generation, transmission, |
H2 production, compression, loading and sizing and scheduling of shipping fleet for multiple end-user markets in |
Asia.
• Continued with outreach programs, supported by Austrade, to attract hydrogen offtake, project investment and technical partners.
• Management and Board site trip to Melville Island completed.
HYENERGY EXPORT PROJECT
• Completion of Milestones 3 and 4 (out of 5) for submission to WA Government, as part of the WA Renewable
personal• Development of near-shore and off-shore compressed H2 unloading terminal designs suitable for Singapore and other target end-market port locations.
Hydrogen Fund grant.
• Completed deliverables include environmental assessment for proposed offshore loading terminal, H2Neo fleet cycle- time analysis, design of shore crossing and subsea pipeline, unloading terminal design, and assessment of job
creation for construction and operational phases.
• The final Feasibility Report (Milestone 5) remains on track for completion in July 2022.
• A public Knowledge Sharing Report (prepared in consultation with HyEnergy project proponents and the WA Government) is expected to be released in the December quarter 2022.
SHIP ENGINEERING AND CLASS APPROVAL FOR THE 'H2NEO'
• 90% completion of the Contract Design Package for the H2Neo carrier.
• ABS Class commenced FEED review of H2Neo engineering and design.
• ABS Consulting undertaking dispersion, fire, and explosion safety studies to advance HAZID analysis and Class
Approval milestones in 2022.
• Small-scale testing underway for structural steel plate and stainless-steel liner plates delivered to CFER Technologies,
with cutting, machining and weld plans performed for testing.
• Executed MOU with Northern Marine for a Technical Partnership for GH2 Carrier development.
BUSINESS DEVELOPMENT ACTIVITY | |
• | Commenced Compressed H2 Study for a full supply-chain transporting H2 into ports of Europe. |
For | |
• | Advanced several opportunities reviewing compressed H2 as an alternative transport carrier into European markets. |
CORPORATE
• Cash position of $11.5 million at 30 June 2022.
• General Meeting held on 5 May 2022 with all resolutions passed, including approval for a change of Company name to Provaris Energy Ltd.
- Provaris Norway AS operating entity established, and Oslo office location secured. Company's CTO, Per Roed, relocating from Rotterdam to Oslo from July.
Provaris Managing Director and CEO, Martin Carolan, commented: "The Company continues to make excellent
progress on the development of the H2Neo carrier to remain on track for key approval milestones in 2022. With two project studies advanced to near completion, we continue to refine the detailed engineering and economics of our integrated compressed hydrogen solution. We are also excited to be establishing a European officer to be closer the new commercial opportunities under review, with Oslo being an established hub for gas-carrier companies, including ship owners, engineering companies and equipment suppliers."
www.provaris.energy | Page 1 |
Quarterly Activities Report - June 2022
Provaris acknowledges that its proposed Tiwi H2 Project is located on the traditional lands of the Munupi people. It is a privilege to
have the support and such a close working relationship with the Munupi Clan and other key stakeholders.
The Company continued to advance the development of a green hydrogen export project during the June quarter. onlyLocated on the Tiwi Islands, Northern Territory, the Tiwi H2 project will develop an integrated compressed hydrogen
export supply chain for 100,000 tonnes per annum, avoiding up to 1.4 million tonnes of CO2 annually.
During the June quarter, the project team's focus remains on completing the Conceptual Design phase.
>
>
useB ing primarily located on existing plantation land and within Port Melville industrial area, the Tiwi H2 Project aims to minimise environmental impacts (compared to the selection of a greenfield site), development time and costs, as well as provide proximity and access to the future demand markets in the Asia-Pacific region.
Provaris will continue to develop and progress the detailed engineering personaldesign of the Tiwi H2 Project throughout 2022 and 2023, in line with the permissions and approvals of the Munupi Traditional Landowners. This
work will run in parallel to Provaris' ship engineering and class approval program to complete mid-2023.
The target project schedule can be summarised as follows:
>
>
>
>
>
A site visit to Melville Island was attended by Management and Board r presentatives during June 2022. The trip was the first opportunity for additional Provaris team members post the removal of all Covid-19 restrictions in April.
For
Figure 1: Tiwi H2 project's strategic location and proximity to Asia Pacific includes Singapore, Korea & Japan
Figure 3 below provides an overview of the key project components and locations for the development of the Tiwi H2 project for export. The Tiwi Islands is located approximately 100km from Darwin, a region that has successfully developed and commissioned large-scale export energy projects and is now being targeted by the Federal Government as a major export hub.
www.provaris.energy | Page 2 |
Quarterly Activities Report - June 2022
Figure 3: Illustration of Tiwi H2 Project proposal footprint and site layout. | |
use only | |
personal | permissions granted to the Company and as required to complete further detailed engineering activities. |
N xt steps for the Tiwi H2 project during the September and December quarters 2022 include: | |
> | Referral consultation with all key stakeholders, including the key findings and level of environmental impact |
to the Munupi Clan and Tiwi Land Council, along with Northern Territory and Federal Government agencies. | |
> | Engineering surveys and studies will continue to be undertaken, mostly on-country, in line with the |
> | Prepare for and commence solar monitoring in two locations for a period of 12 months. Permissions have |
For | been granted, with associated monitoring agreements with the Tiwi Plantation Corporation to be concluded in the |
September quarter of 2022. | |
> | Request for proposal and appointments of lead consultants in the second half of 2022 to commence |
detailed engineering and a bankable feasibility to support the target of financial close of an initial phase of | |
development by late 2023. | |
> | Ongoing discussions with strategic partners regarding offtake, investment, development, and future |
ownership structures for the project. |
In August 2021, Provaris entered into a non-binding Memorandum of Understanding with Province Resources (ASX:PRL) and global renewable company Total Eren (together the HyEnergy Project partners) to support a technical and commercial feasibility study on exporting green hydrogen using compressed shipping from the 8 GW HyEnergy Project located in the Gascoyne region, WA, to nominated markets in the Asia-Pacific region.
www.provaris.energy | Page 3 |
Quarterly Activities Report - June 2022
The feasibility study is focused on the proposed phase 1 capacity of renewable energy generation and will consider the export of 200,000 tpa of hydrogen. The Study is now due for completion in July 2022. The Study received funding as part of the WA Renewable Hydrogen Fund (Round 2).
Refer to Figure 4 for an illustration of the project scope. The HyExport Export Study team consists of a world-class team of consultant specialists: WSP, Oropesa, ERM, and Turner & Townsend.
onlyDuring the June quarter, the project team completed the deliverables related to Milestone 3 and 4 (out of 5) for submission to WA Government. Deliverables include:
>
>
use>
>
>
>
personalDrafting of the final Study Report and Public K owledge Sharing document are on track to be
complete in July 2022 and provided to the WA Government in August 2022 for review and c mment.
As per the Financial Assistance Agreement executed with the WA Government, the outcomes of the Study Report are anticipated to be made available to shareholders in the December quarter 2022.
Provaris will review the outcomes of the Study Report
with the HyEnergy Project partners to integrate with the upstream project feasibility being undertaken.
ForManagement continues to focus business development resources in Europe to advance project opportunities for the development and commercialisation of a Compressed Hydrogen supply chain, with a collaboration now underway to assess the technical and economic feasibility of using compression to move volumes of green hydrogen to an existing port location in Europe to be connected to the proposed hydrogen backbone.
The awareness and qualified interest in Provaris' proprietary integrated hydrogen supply-chain solution using compression continues to increase in 2022, for both suppliers and future buyers of hydrogen. The energy crisis in Europe has seen hydrogen targets and strategies be reset, with green hydrogen imports essential for reaching targets set under the EU's "Fit for 55" legislative package and REPowerEU by 2030. This includes an increase to 20 million tonnes per annum per year total demand, which will require 10 million tonnes per annum through hydrogen imports.
www.provaris.energy | Page 4 |
Quarterly Activities Report - June 2022
Figure 5: Provaris' global approach to developing a portfolio of compressed hydrogen projects
onlyuseThe Company will continue to update shareholders as new project opportunities move to an agreement required for p blic disclosure.
personalDuring the quarter, the Company's ship design team advanced the detailed Contract Design Package (CDP) phase, which is now 90% complete. Design and engineering documentation has now been provided to ABS for their review
as part of the next approval milestone of Class Approval for Construction.
ABS Consulting have been engaged to complete a gas dispersion, fire and explosion study that will feed into the next ABS engineering review and a HAZID workshop planned for September 2022.
The hydrogen dispersion, fire and explosion studies are underway for the identification and assessment of potential r lease scenarios during transportation. Releases from the blowdown stack and topside piping and equipment is being modelled. The goal of this work is to aid in the classification of the N2Neo by ABS Class
ForP ovaris and ABS have been selected by the organisers of the 2022 Gastech conference in Milan in September in order to present a technical paper on the development of the novel H2Neo ship design and supporting supply chain.
Key de-risking milestone for Design Approval for Construction of the H2Neo remains on track for December 2022.
Small Scale Testing, at CFER Technologies in Edmonton (Canada), of steel structural plate and stainless-steel liner is now underway with weld combinations on both the inner liner material and outer layers of carbon steel, some of which is to be conducted in a high-pressure hydrogen environment. Completion of the testing is scheduled over multiple phases through to the March 2023.
www.provaris.energy | Page 5 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Provaris Energy Ltd. published this content on 25 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 July 2022 00:13:01 UTC.
