Uchenna Izundu
International Editor
LONDON, Apr. 3 -- Ireland's planning board An Bord Pleanala has given the go-ahead to Shannon LNG to develop an LNG regasification plant in County Kerry between Tarbert and Ballylongford in southwestern Ireland.
The approval, however, is subject to 40 conditions and is a controversial project among local residents, who have safety fears.
The terminal is expected to cost €500 million and could meet 40% of Ireland's future energy needs. It will have four storage tanks, each with 200,000 cu m of capacity, and a 25-30 km pipeline to connect the terminal to the national grid. Daily send out of gas will be up to 1 bcfd. Operations are scheduled to start in 2012.
The country is a major gas importer, and high commodity prices are driving the government to seek new explorers in its recent licensing round (OGJ Online, Sept. 10, 2007).
Shannon Development, which owns the prospective land for the plant, has granted an 'option-to-purchase' to Shannon LNG for 281 acres of its 600-acre land bank.
Shannon LNG is owned by Hess LNG Ltd., a 50:50 joint venture of Hess Corp. and Poten & Partners.
Contact Uchenna Izundu at [email protected].