Source: Vermillion Energy
Vermilion Energy Inc. (TSX: VET) reported that An Bord Pleanála has granted permission for the construction of the Corrib gas onshore pipeline in Ireland.
In its detailed determination issued today, ABP stated that the development “would help safeguard the energy security of the State, would benefit the Western Region of Ireland, would not seriously injure the amenities of the area, would not be prejudicial to public health or to public safety and would not be likely to have significant effects on the environment.”
The Corrib Gas Partners look forward to completing this strategically important project and delivering the gas to Ireland. At peak production, Corrib gas will supply up to 60% of Ireland’s natural gas needs and will play an important role in Ireland’s energy security in the years ahead.
The Corrib gas field is located approximately 83 kilometers off the northwest coast of Ireland. Expected to produce some 300 million cubic feet per day of gas, the field is slated to begin production by the end of 2012. Vermilion expects to realize a material increase in both production and fund flows at the onset of production from the Corrib gas field in Ireland.