Tariff ‘threat’ to €600m Kerry gas plan

ACCUMULATED losses at the company seeking to build a €600 million liquefied natural gas import terminal in Co Kerry stood at €29m at the end of last year.

The losses are confirmed in accounts recently filed with the Companies Office by Shannon LNG Ltd and a spokesman for the company confirmed yesterday that the losses form part of the firm’s €40m-plus investment in the project to date.

However, the spokesman warned yesterday that changes in the tariff structure proposed by the Commission for Energy Regulation (CER) for importing gas through Bord Gáis-owned interconnectors from Britain “threatens the commercial viability of the development”.