PSE eyes €500m natural gas storage facility

ENERGY giant PSE Kinsale Energy has launched a major feasibility study into the development of a €500 million natural gas storage complex of strategic national importance.

Pending the confirmation of commercial viability, the project, which includes the conversion of the company’s current off-shore storage site 40km south of Cork Harbour, and redeveloping its on-shore terminal at Inch in east Cork, could see an investment of between €400m and €500m.

The proposed facility would quadruple the company’s gas storage facilities, creating several hundred construction jobs, and up to 50 permanent positions during the operational phase.