18/10/2012

Larne Lough Gas Scheme Given Go-Ahead

The go-ahead for a £400 million submerged natural gas storage facility underneath Larne Lough has been given the go ahead by Environment Minister, Alex Attwood.

The storage facility will be capable for holding 500 million cubic metres of natural gas 1 mile under the lough. However, more than 350 complaints have already been filed towards the scheme.

Member from the Marine Conservation northern Ireland and owner of one of the many complaints, Nigel Hamilton has said that the construction will cause: "a considerable amount of high, heavy vehicle traffic movements on to the island on what are particularly narrow roads, unsuitable for this type of traffic movement, over a three to four year period".

Although, despite the complaints and objections of the Environmentalists, Alex Attwood is expected to give the go-ahead of consent for the plans this Thursday. The company first have to raise the amount of funding before any work can take place, which is estimated to be around £400 million. If the facility is constructed it could store enough gas to supply Ireland with for around 6 weeks.

Companies such as SSE, Bord Gais and other large scale users are thought to be the potential customers that will be using this facility.

(CH)

Related Northern Ireland Business News Stories
Click here for the latest headlines.

23 March 2010
Undersea Caves Gas Storage Plan Welcomed
Almost two years after the idea first emerged, the business behind a huge undersea gas storage facility off the coast of Northern Ireland is seeking planning permission.
11 December 2001
British Gas to raise gas prices in New Year
British Gas is set to raise domestic gas prices by 5.3 per cent in the New Year, increasing the average UK domestic gas bill by £17 per year. The company blamed the rise in costs due to the cost of buying wholesale gas almost doubling in the last year and a half.
06 September 2011
Wholesale Market 'Forces Gas Price Rise'
The gas supplier, firmus energy - that has been providing natural gas since 2005 across Northern Ireland - has announced details of its new tariff, which will see domestic prices increase by 28.4% from 1st October.
02 November 2010
Competitor Expands NI Gas Market
Domestic gas customers in greater Belfast have today moved closer to having a choice of natural gas supplier for the first time. Many customers in the greater Belfast and Larne areas will, from Tuesday, be able to choose from two suppliers.
19 March 2014
Minister Meets With CEO Of The Aventas Group
Enterprise Minister Arlene Foster today met with the Paul O'Brien, CEO of the Aventas Group to discuss the company's contribution to the economic growth in the Fermanagh area.