InfraStrata’s gas storage project under development at Islandmagee in County Antrim has received approval from the European Union for grant funding of up to 50% of the €5 million cost for a data gathering well to obtain cores of the salt sequence and undertake further engineering design work.

This approval was formally ratified by the European Commission on 21 November. Grant funding will be subject to finalising a grant agreement with the Connecting Europe Facility (a €50BN fund adopted in 2011 by the European Commission to make targeted investment in key infrastructure projects in transport, energy and digital networks).

Tags: InfraStrata plc