UK Oil & Gas PLC, listed on AIM as UKOG, has secured a lease agreement for its second hydrogen storage site in Dorset, UK. The 60-year heads and terms deal, facilitated by subsidiary UK Energy Storage, involves the lease of land and subsurface mineral rights. CEO Stephen Sanderson highlighted the site's strategic advantage of accessing the thickest part of the Dorset Triassic salt deposit, enabling the creation of large underground caverns through a compact surface facility. The site's proximity to SGN's future hydrogen pipeline and regional distribution networks further enhances its operational efficiency. The company plans to finalize the agreement, conduct design studies, and submit a planning application for a Nationally Significant Infrastructure Project. Additionally, UK Oil & Gas intends to seek government revenue support for its Dorset sites. With a vision to address a significant portion of the UK's hydrogen storage demand by 2050, potentially fulfilling up to 20% of the national requirement, the company aims to contribute to the country's energy transition goals. CEO Sanderson emphasized the importance of collaboration with the government to develop key energy infrastructure assets and support the UK's decarbonization targets by 2030.