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IOG plc has served notice to Gazprom Marketing & Trading Ltd to terminate their gas sales agreement immediately, citing the ongoing Ukraine crisis. IOG plans to sell gas from the Elgood and Southwark fields to alternative buyers.

CEO Andrew Hockey expressed concern for those affected by the conflict. Meanwhile, IOG has completed construction and commissioning at its Saturn Banks facilities and anticipates gas sales to commence shortly. Other companies in the energy sector, including Donegal Investment Group and Summerway Capital, are also undergoing significant changes and developments.