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Press
Release July 10th 2012:
Shannon LNG Project Officially Postponed.
Shannon
LNG Managing Director, Paddy Power, announced officially for the first
time on July 8th 2012 that the Shannon LNG project was being postponed for at least 2 and a quarter years.
Speaking to the "The Sunday Business Post" on July 8th 2012,
Shannon LNG Managing Director, Paddy Power, stated the project
"will not proceed, or can't, until there is regulatory certainty about
this, and that wouldn't be before October 2014"
'Safety Before LNG', welcoming the announcement, stated that the news
of the postponement of the Shannon LNG project so soon after the Energy
Regulator outlawed a monopoly price-fixing loophole in the Irish gas
market, proved that the Shannon LNG project was only ever an anti-competitive predatorial
attempt to gain an unfair dominant market position which would have
effectively forced Irish consumers to subsidise the Shannon LNG project
by up to €50 million per year.
Speaking to the local "Kerry's Eye" newspaper, Energy Minister, Pat Rabbitte, was quoted on July 5th 2012 as saying:
"all
companies in the field want a level playing field and that the State
had invested €600m in an interconnector with the UK, to which suppliers
in Ireland should contribute"
-Ends-
Notes to the
Editor:
1. Sunday Business Post - July 8th 2012 - "Shannon gas plant is stalled over tariff ruling"
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