Liquefied natural gas land deal unveiled

Regional development agency Shannon Development has entered into an "option-to-purchase" agreement with Shannon LNG in relation to 281 acres of the 600-acre Shannon Development-owned land bank between Tarbert and Ballylongford, Co Kerry.

The site, which has been designated by Shannon Development for deep-water projects, is about 25km from the national gas pipeline grid.

Under the agreement, Shannon LNG, an Irish subsidiary of Hess LNG Limited, is proposing to build a €400m liquefied natural gas (LNG) receiving terminal on the Shannon Development-owned land bank on the Shannon Estuary.

Shannon Development designated their Tarbert/Ballylongford site for deep-water projects, and have been marketing the potential of the site to an international business audience for years.

Minister for Enterprise Micheál Martin said: “This major development has the potential to secure Ireland’s long-term supply of natural gas and provide an important economic boost here in North Kerry.”