Company's €500m plan for energy storage will boost jobs
Published 01/06/2010 | 05:00
IRELAND'S rapidly emptying Ballycotton gas field is set to be transformed into a major gas storage reservoir.
PSE Kinsale Energy confirmed it was to conduct a feasibility study on expanding their gas storage facilities through new storage units at the Ballycotton gas field off Ireland's south-west coast.
The project could involve a total investment of €500m. If confirmed, the storage facility would quadruple Ireland's total existing storage capacity.
The field -- located some 40km south of Cork harbour -- is now rapidly emptying of its natural gas reserves.
PSE Kinsale Energy is considering transforming both the old gas field and their on-shore terminal at Inch, Co Cork into a national gas storage facility.
Such a storage facility would create 50 permanent jobs. If the study recommends the project, it will not be operational until 2014 at the earliest.