New Fortress agrees to buy Shannon LNG project

New Fortress Energy has agreed to buy the long-delayed Shannon LNG project near Ballylongford, in County Kerry from Irish company Sambolo Resources. The proposed LNG import facility has been designated as a European Project of Common Interest enabling it to tap funds from the Ireland Strategic Investment Fund and EIB. There are also plans to build a 500MW combined heat and power plant adjacent to the €500 million terminal.