Corrib project cost to top €3.2bn

The cost of developing the Corrib Gas project is now expected to top €3.2 billion, with the final phase of the project expected to sustain more than 700 jobs.

However, Shell Ireland admitted yesterday that it may not be until early 2015 before gas is produced from the field off Co Mayo.

Yesterday, the Corrib Gas Partners: Shell, Statoil and Vermillion announced an €800m investment in Ireland to complete project construction that will sustain the 705 jobs.