Long delayed gas terminal on Shannon Estuary back on
A long delayed €500m gas terminal on the Shannon Estuary is back on after US based New Fortress Energy struck a deal to buy the business with full permission.
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| Image Source: New Fortress Energy |
New Fortress has agreed to buy the Shannon LNG project at Ballylongford, close to Tarbert in Kerry. The site has planning in place for a deep-water jetty, storage facilities for liquefied natural gas (LNG) and connections to the Irish national gas network.
The project is expected to support 400 jobs at peak construction and 100 jobs once it is operational.
The scheme ran aground three years ago when the original owner, US investor Hesse, pulled out in part because regulators here insisted they'd have to contribute as much as €50m a year to support infrastructure including the cost of interconnectors linking the Irish gas network to supplies from the UK.
However, since then a European Union push to slash reliance on gas piped from Russia, and fears about the long term implication of Brexit, mean such fees are now seen as less likely to put in place.
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