This strategically important project will ensure security of gas supply.
A significant investment, it will create jobs and further enhance the Mid and East Antrim area as a key part of the energy sector.
Geostore Ltd. is a subsidiary of Riverstone Credit Partners LLC, who specialise in funding the development of major energy infrastructure projects around the world.
GeoStore plans to develop a gas storage facility near Islandmagee, County Antrim. The facility will store enough gas to supply all Northern Ireland’s consumers for up to 3 months.
This critical infrastructure project will strengthen energy security, creating a strategic reserve of gas for Northern Ireland.
The GeoStore project involves the utilisation of seven underwater salt caverns in Larne Lough for gas storage.
The storage caverns will be developed in a natural salt structure below the seabed and will enable gas to be delivered, stored and then returned to the transmission system when required.
The Islandmagee peninsula is strategically important as the site of Ballylumford Power Station, the Moyle Interconnector and the existing Scotland-Northern Ireland gas pipeline.
The Permian salt beds in Larne Lough are one of the only areas on the island of Ireland which is geologically suitable for this use.
Planning permission for the above-ground elements of the proposed development was granted in 2012 by the former Department of the Environment (DoE).
GeoStore is now in the process of preparing a Marine Licence application for the project. This will be submitted to the Department of Agriculture, Environment and Rural Affairs (DAERA).
Geostore Ltd. is a subsidiary of Riverstone Credit Partners LLC, who specialise in funding the development of major energy infrastructure projects globally.
Our aim is to deliver a natural gas storage facility in Islandmagee. This facility will strengthen energy security across the UK and Ireland by creating a strategic reserve of natural gas in NI. It will help to establish greater levels of energy security by reducing potential for supply disruption from global events.
The project involves the creation of seven underwater salt caverns in Larne Lough, capable of storing up to a total of 500 million cubic metres of gas. The storage caverns will be developed in a natural salt structure below the seabed and will enable gas to be delivered, stored and then returned to the transmission system when required.
This type of gas storage is a proven and safe technology, with many similar facilities in operation across the UK, Europe and elsewhere.
Planning permission for the above-ground elements of the proposed development was granted in 2012 by the former Department of the Environment (DoE).
Geostore Ltd. is now in the process of preparing a Marine Licence application for the project. This will be submitted to the Department of Agriculture, Environment and Rural Affairs (DAERA).
Geostore Ltd. is a subsidiary of Riverstone Credit Partners LLC, who specialise in funding the development of major energy infrastructure projects globally.
Our aim is to deliver a natural gas storage facility in Islandmagee. This facility will strengthen energy security across the UK and Ireland by creating a strategic reserve of natural gas in NI. It will help to establish greater levels of energy security by reducing potential for supply disruption from global events.
This type of gas storage is a proven and safe technology, with many similar facilities in operation across the UK, Europe and elsewhere.
Geostore Ltd. is a subsidiary of Riverstone Credit Partners LLC, who specialise in funding the development of major energy infrastructure projects globally.
Our aim is to deliver a natural gas storage facility in Islandmagee. This facility will strengthen energy security across the UK and Ireland by creating a strategic reserve of natural gas in NI. It will help to establish greater levels of energy security by reducing potential for supply disruption from global events.
This type of gas storage is a proven and safe technology, with many similar facilities in operation across the UK, Europe and elsewhere.
Planning permission for the above-ground elements of the proposed development was granted in 2012 by the former Department of the Environment (DoE).
Geostore Ltd. is now in the process of preparing a Marine Licence application for the project. This will be submitted to the Department of Agriculture, Environment and Rural Affairs (DAERA).
The project involves the creation of seven underwater salt caverns in Larne Lough, capable of storing up to a total of 500 million cubic metres of gas. The storage caverns will be developed in a natural salt structure below the seabed and will enable gas to be delivered, stored and then returned to the transmission system when required.
Substantially improving energy security, and reducing reliance on fossil fuel imports, by creating a strategic reserve of natural gas capable of meeting consumer demand across the island of Ireland for up to one month.
Contributing to the energy transition, by ensuring security of supply while renewable assets and grid infrastructure upgrades are developed to the scale required.
Using proven and safe gas storage technology, which is in operation across the UK and Europe.
Supporting up to 2,000 jobs during construction through a supply chain focussed on local businesses, and up to 240 permanent jobs during the operational phase of the project.
Volatility in import costs are mitigated though gas storage locally.
Substantially improving energy security, and reducing reliance on fuel imports, by creating a strategic reserve of gas capable of meeting consumer demand across the island of Ireland for up to one month.
Contributing to the energy transition, by ensuring security of supply while renewable assets and grid infrastructure upgrades are developed to the scale required. The project can also store gas from the grid including renewable biomethane and hydrogen.
Using proven and safe gas storage technology, which is in operation across the UK and Europe.
Supporting up to 400 jobs during construction through a supply chain focussed on local businesses, and up to 60 permanent jobs during the operational phase of the project.
Volatility in energy import costs are mitigated though gas storage locally creating downward pressure on consumer prices.
