Us firm takes on a scheme of 500 million euros to land the gas in County Kerry

  • Us firm takes on a scheme of 500 million euros to land the gas in County Kerry
    Independent.t. E.
    The long-awaited €500 million terminal to import gas through the mouth of the Shannon will be back after us on the basis of the new fortress Energy signed a deal to buy the company behind the scheme.
    https://www.independent.ie/business/irish/american-firm-takes-on-500m-scheme-to-land-gas-in-co-kerry-37250339.html
    https://www.independent.ie/regionals/newrossstandard/news/article37250462.ece/e7db6/AUTOCROP/h342/2018-06-19_new_41755873_I1.JPG

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The long-awaited €500 million terminal to import gas through the mouth of the Shannon will be back after us on the basis of the new fortress Energy signed a deal to buy the company behind the scheme.

Supporters say it will allow Ireland to the UK and bypass Russian pipelines and import gas directly from the Middle East and the United States.

Ireland Leo Varadkar yesterday welcomed the sale.

The new fortress agreed to buy the project, Shannon LNG in Drumshanbo, close to Tarbert in County Kerry.

The project has full planning for a deep water Marina, a storage facility for liquefied natural gas (LNG) and connect to the Irish national gas network.

There will be about 400 jobs at peak construction and 100 jobs once it is running.

The scheme ran aground three years ago when the original owner, an investor from the United States of Hesse, pulled in part because of the Irish regulators insisted that would contribute as much as 50 million euros per year to support the cost of the connection lines connecting to the Irish gas network from the UK, although they would never use them.

However, since the European Union’s push to reduce dependence on gas from Russia, and concerns about the effects quarter and month, so these costs may not apply.

About 70 million euros were invested in the project Hesse.

The scheme of the Shannon LNG see gas landed through the mouth of the river Shannon on the ship from suppliers in the USA and the middle East, the bypass pipe in the UK.

Hesse sold by Shannon LNG to resources, Sambolo, private Irish company controlled by paddy power and John Power, in November 2015, and the new owners are already looking for a buyer or investor to take on the project.

The development of the terminal will cost at least 500 million euros, but investors are likely to be able to identify appropriate funds from government sources.

The EU authorities designated scheme Drumshanbo European project of common interest, placing it in a number of funds from the Ireland strategic investment Fund and European investment Bank.

Shannon LNG is suitable for gas imports three million tonnes per year terminal, with four LNG storage tanks, each with a volume of 200,000 m, Wharf, large enough to handle huge m 266,000 Q-Max LNG so named because they are the largest vessels that can dock in Qatar gas terminal. There’s also a plan to build associated 500 MW TPP.

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