David Mirzai of SP Angel says EnergyPathways (AIM:EPP)' Marram Energy Storage Hub (MESH) has gained momentum after the North Sea Transition Authority awarded a gas storage licence that spans an area the firm says could support up to 60 salt caverns and multi‑TWh scale storage.
Mirzai argues the licence bolsters MESH’s integrated long‑duration case because EnergyPathways, a UK developer of large‑scale compressed‑air energy storage (CAES) and subsurface energy infrastructure, plans to combine fast‑cycling salt‑cavern gas storage with a 300MW/55GWh CAES to absorb curtailed offshore wind and supply seasonal, peaking and ancillary services, and SP Angel’s pre‑FEED economics estimate a £450–£500m build cost for the gas storage element versus roughly £2bn to redevelop Rough.
Supporting signals cited by Mirzai include a proposed Marram working volume of ~30bcf rising to ~45bcf with caverns, rapid injection/withdrawal rates of ~500mmcf/d, ongoing FEED work with Siemens Energy and Tier‑One partners including Wood, Costain and ABP, and SP Angel’s indicative suggestion of project cash flows in excess of £100m per annum if milestones align.
Mirzai flags FEED outcomes and the targeted 2028 final investment decision, with commercial start‑up pencilled in for late 2031, as the near‑to‑medium‑term tests of the investment thesis.
