It’s been confirmed that Shannon LNG has withdrawn its court appeal against the proposal that it would have to pay tariffs for gas interconnectors.
The Commission for Energy Regulation held that Shannon LNG was liable for the tariffs even though it would not use the interconnectors between Ireland and the UK.
It’s been more than a decade since Shannon LNG announced plans to build a multi-million euro liquefied natural gas terminal on the Tarbert Ballylongford landbank.
Shannon LNG took a legal challenge over the tariffs which culminated with an appeal to the Supreme Court.
The Courts Service and the Commission have confirmed that the case has now been settled and that Shannon LNG has withdrawn its appeal.
Tarbert Development Association has welcomed the news and says it augurs well for the terminal finally being constructed.
The association’s John Fox says he understands that at the start of the month, Shannon Commercial Properties, the semi-state body which owns the landbank, received several expressions of interest to buy.
Mr Fox says if the sale of the land goes ahead, a percentage of the money should go to Kerry County Council for road and infrastructure in North Kerry.