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Islandmagee storage project progresses amid winter gas uncertainty
Doubts over the UK’s winter gas supplies post-Brexit make a strong case for increased gas storage capacity in the country, although funding may remain an issue Doubts over the UK’s winter gas supplies post-Brexit make a strong case for increased gas storage capacity in the country, although funding may remain an issue.
28 October 2019
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The risk of disruptions to UK gas supplies after Brexit has strengthened the case for the planned Islandmagee gas storage facility in Northern Ireland, which London-based Infrastrata wants to start building as early as next year.
Infrastrata’s chief financial officer, Arun Raman, said an FID will be taken at end-2019, with construction planned to start in Q1 2020. The company reached an offtake agreement in June with trader Vitol, which has agreed to take gas stored in the proposed seven caverns over a...
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