Exploration & Production

Brexit supply cut threat boosts interest in Shannon LNG

With Brexit becoming a real threat to Ireland's gas supplies from the UK, US company New Fortress Energy has spotted an opportunity for LNG With Brexit becoming a real threat to Ireland's gas supplies from the UK, US company New Fortress Energy has spotted an opportunity for LNG.
By Silvia Favasuli 11 September 2018 0 32491
A flare at Shell’s Corrib field A flare at Shell’s Corrib field. (Shell E&P Ireland)

The potentially seismic effect of Brexit on the Irish gas market has revived interest in the long-delayed Shannon LNG project.

New Fortress Energy, the energy arm of New-York based investment group Fortress Investment Group, said at the end of August it had agreed to develop the project, with startup scheduled for the end of 2020.

Plans to build an LNG terminal in the Shannon estuary looked buried two years ago, when United States-based energy company Hess Corp. withdrew from the project.

But with Brexit now...