InfraStrata Gas Storage Project Location Map source: InfraStrata

InfraStrata plc, the UK quoted company focused on the development of natural gas storage capacity, has lodged an application with the Department for the Economy in Northern Ireland for an additional Mineral Prospecting Licence (the "Licence") in respect of its Islandmagee gas storage project (the "Project").

This new application is in addition to previous applications and licences granted for the Project and covers a block of land adjacent to existing parcels of land under licence to InfraStrata. The Licence application runs from Ballylumford Road through to Browns Bay. 

If successful, this application may facilitate the development of an additional 15 gas storage caverns in addition to the 8 already planned and approved for the Project. During the early evaluation stages of the Islandmagee site, additional seismic data was obtained that covered a substantial portion of the Licence area. As mentioned in the Company's announcement of 5 December 2018, Atkins has been engaged to further investigate and provide a Concept Development Study on developing an additional 15 caverns at the Project. Atkins will progress evaluating this data in January 2019 and issue a report during Q2 2019.   

Whilst no guarantee can be given that this licence application will be successful, it is one of the first steps in the process for the proposed additional caverns.  Over the coming months, additional applications will be required as well as various new landowner agreements.

John Wood, Chief Executive Officer commented: 
"As part of our wider strategy to fully realise the potential in Islandmagee, obtaining a prospecting licence for this additional block will be the first step on that journey. Clearly, we are at a very early stage in this process but it will be running in parallel with our existing work streams for the development of the initial 8 caverns."

KeyFacts Energy Industry Directory: InfraStrata