US firm invests £13.5m in Islandmagee gas storage

The investment by eCORP International LLC (eCORP) will fund the project development costs up to the construction phase, which would include the drilling of the first cavern borehole.

Islandmagee Storage Limited submitted a planning application in March 2010 for the construction of a 500 million cubic metres nastural gas storage facility in Permian salt beds almost a mile beneath Larne Lough.

Subject to the granting of planning permission, it is hoped the drilling of the first cavern borehole will take place during 2011 and the first gas will be stored in the facility in 2015.

See this week's Larne Times for the full story.