Losses on the increase at Shannon LNG

Accumulated losses at the firm overseeing a stalled €1bn investment on the Shannon estuary last year increased to €51m.

New accounts show that accumulated losses at Shannon LNG Ltd last year climbed by almost €20m to €51m.

Permission was secured by Shannon LNG for a €600m liquidified gas terminal in 2008 while a €400m Combined Heat Power Plant to be built at the 287-acre site at Ballylongord, Co Kerry, is also planned in tandem with the gas terminal proposal.