Predator continues work on the offshore LNG import project for Ireland

London Stock Exchange-listed Predator Oil & Gas continues to work on the development of an offshore LNG import project for Ireland, the company said in their latest financial disclosure.

Illustration/Courtesy of Höegh LNG

“We have made excellent progress with regulatory authorities, gas infrastructure owners, gas buyers and a provider of a Floating Regasification and Storage Unit vessel (FRSU) to establish an offshore LNG opportunity for Ireland to import LNG that does not use shale gas as a LNG feedstock,” the company said in the release.

“The rapid and proactive engagement of all the key stakeholders demonstrates the potential significance of LNG as a contributor to Ireland’s security and diversification of energy supply during the transition to renewable energy dominance and a potential post-Brexit over-reliance on gas imported through the interconnectors with the United Kingdom,” the company stated.

“This is an exciting development for the company as we have moved quickly to establish a niche position and have developed relationships with significant global players in the LNG industry. LNG is a key component for the future global energy mix,” the company announced.

As stated, Predator Oil & Gas has ownership of the LNG Business Plan and is applying for an LNG import licence. This is potentially a valuable asset for the company and a catalyst for future M & A transactions at the appropriate time in the project development cycle.

Officials also added that timeline for the commissioning of an offshore LNG import facility has been completed based on projecting first deliveries of gas from an offshore FRSU operation to occur in the first half of 2024. This will now form the basis of finalising the collaboration agreement with the FRSU vessel provider.

To read the full release, please click here.