Supplies from the Corrib gas field are in declineA minority owner of the Corrib gas field is preparing to sell its stake for an estimated $400m (€327m), according to a report by Reuters. Norway's Equinor owns a 36.5pc stake in the Corrib gas project, alongside partners including Vermillion which operates the field and is owned by the Canada Pension Plan Investment board. Read MoreLike many energy investors Equinor is known to be shifting to a greater focus on renewables including offshore wind. That turbine, alongside a fixed-bottom project 20km closer to shore, could generate a combined 1.5 gigawatts (GW) of energy, enough to power around 1.5m homes. Meanwhile Corrib, operated by Vermillion, accounts for around 95pc of Ireland's natural gas productions.

Source: Irish Independent May 27, 2021 11:34 UTC