« BackShannon LNG has been sold


The company behind plans to build a gas terminal in North Kerry has been sold.

According to the Sunday Independent Shannon LNG has been sold by the Hess Corporation which has its headquarters in New York.

The identity of the new owner of the proposed liquefied natural gas terminal on the Tarbert-Ballylongford landbank and their plans are not yet clear.

The project which was expected to cost in the region of €600 million had been stalled due to a number of legal wrangles.

Hess has sold Shannon LNG in a time of falling oil prices and its own stock has falling by more than 50 percent in the last 12 months.