October 25, 2021

The energy firm says the island is a “green light” for the construction of the Meiji gas storage caves.

Peninsula Energy says the license gives it the green light to move toward the construction of seven gas storage caves in East Antrim.

Once fully operational, these units will hold approximately 500 million cubic meters of natural gas and secure supply to Northern Ireland for up to 14 days on demand.

John Wood, Group CEO of Harland & Wolff, the parent company of Island Magi Energy, said: “This is good news for consumers and businesses in the UK who are currently experiencing alarming increases in energy prices and There is a risk of possible blackouts due to the power grid. Demand in the winter months.

Aerial view of Meiji Island.

With the current energy supply crisis, everyone now understands how important gas reserves are to keep supplies safe and to prevent extreme fluctuations in gas and electricity prices in the UK.

“We are pleased with this big step forward in the project’s journey, which is paving the way for the construction of our facilities. We look forward to playing a greater role in the energy sector and to a secure future for all.

The UK, Island Meiji Energy, says Europe has the lowest gas storage capacity at just 1% of its annual demand, which makes supply problems much less flexible than other European countries. Which is 20-30% of the annual demand. Once fully stocked, the Island Magi Project will hold more than 25% of the UK’s storage capacity.

However, the project has been strongly opposed by Stop Island Magi Energy campaigners, who warn that it has the potential to “change our entire coastline”. Click. Here

And in 2020, the Northern Ireland Marine Task Force – a coalition of environmental NGOs, including RSPBNI, Ulster Wildlife, National Trust and Friends of the Earth – will focus on the health of the marine environment, its safe habitats and What is the claim of the species found from Island Meiji? If the Department of Agriculture, Environment and Rural Affairs requests a marine license for the project, there is a significant risk. Click. Here

Island Meiji Energy, meanwhile, has long-term plans to store hydrogen.

Mr Wood explained: “Large-scale hydrogen storage will enable the UK to make the most of renewable energy as it moves to zero.

The existing power grid cannot always accept all the electricity generated from wind farms during the period of excess wind generation. During these frequent periods the wind farms are temporarily restored as there is no way to store the excess electricity. Large-scale hydrogen production and storage is its long-term solution.

“The electricity generated from the excess air can be used to produce green hydrogen which can then be stored in salt caves for maximum use for future use.”

During the construction of the caves, the company says 400 direct jobs will be created, as well as between 800 and 1,200 indirect jobs, expected to bring about million 7 million annually to the local economy.

Islandmagee Energy added: “It is also estimated that for every £ 1 million in capital spent during this phase, an additional ڈالر 2 million will be generated in the economy each year. This means 75% of the local content. At the same time, the wider economy could benefit by about ڈالر 400 million.

“During the operation, an additional 60 direct jobs could be created, expected to bring about £ 1 million to the local economy each year and between 120 and 180 indirect, which would bring in another 2-3 2-3 million each year.”

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