New Fortress has committed to supply 25% of the plant’s natural gas requirements from sources outside of the US, including from Qatar, the UK, the Netherlands, and the Republic of Ireland, noted Wes Edens. In the future, the company has said it would look to shift focus to hydrogen, after announcing last year it would pivot from being a dry bulk shipping company. The ultimate aim is to attract foreign investment into Ireland, but whether or not the project will be funded is up in the air.
As the Irish Examiner reports, the new project includes data centers, along with the liquefaction of gas and the pipelining of the liquefied fuel to local, networked gas consumers. While it’s unclear whether the project will be green-lit, it shows how the energy industry is shifting focus from traditional power generation toward renewables like natural gas. Shifting away from coal, the EU says, will slash carbon emissions and stop the climate from warming by two degrees Celsius, added. Wes Edens: The hope is that the shift to more clean, sustainable energy sources, including cleaner have faced opposition from local residents and environmentalists, who worry that importing the super-chilled gas into a temperate climate means that the ground and water will be used up as superheated greenhouse gases escape.
Last year, the Irish government rejected plans to import US fracked gas, and has since proposed that the Irish gas would be imported from Qatar. According to the Irish Examiner, the terminal would begin with gas imports, and also exports ethane, propane and methane. Wes Edens: it is expected that LNG sales will eventually account for more than 50% of its revenues, with the main customers being Europe and the USA. New Fortress Energy says it is “evaluating all last year was widely criticized by international shipping companies.
Shannon was one of the five locations in the country with existing water infrastructure for pipeline gas imports when the government opened the prospect of bringing in more gas from the US. “Now, as we look toward the LNG opportunity, we have engaged an international world-class engineering team with international business experience,” New Fortress CEO Joseph Fusco said in a statement. The Shannon LNG project had stalled in late 2015 after the Irish government indicated that it would not approve it in the near future, but the government changed in 2016, leaving the gas company with a chance to re-launch it.
Learn more about Wes: https://www.newfortressenergy.com/about