Portland Gas the AIM Listed group, which was divested from E & P explorer Egdon Resources in early 2008, is changing its name to Infrastrata plc – demonstrating that it is not a one-venture company; that its does other projects in the pipeline and; as the company raises finance for its flagship scheme at Portland, it will, by rearranging its corporate structure underline that gas storage – the business it is in – is an extremely important issue for the UK.
After a lengthy wait, Portland Gas was finally granted full planning permission to develop what will be the UK’s largest onshore gas facility at Portland, in Dorset and will feature the leaching of 14 caverns in a salt sequence trapped by a thick layer of Triassic rock, which is said to be 220 million years old, underground.
The new facility will have the capacity to store 1,000 million cubic metres – mcm (Or 1 billion cubic metres; 35 billion cubic feet; 1% of UK annual demand) and will be designed to inject or withdraw gas at 20 mcm/per day (the equivalent to 5% of UK peak demand) and is currently scheduled to be available at full capacity in late 2016 – with first gas storage starting in 2013.
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Source;
Oilbarrel.com/ News (Portland Gas Changes Its Name to Infrastrata plc To Emphasise The Importance Of Developing A Number Of Gas Storage Projects In Europe-21.12.09)
