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Obviously the ML decision is still in the hands of the DAERA minister awaiting a decision, and goodness knows what the decision on that will be, or even when it will be.
Giving it some thought, that from when the gas storage application was submitted a few years back, the talk of all things Hydrogen has really taken off since then. Every other word these days in energy circles seems to be this hydrogen word. There's no doubt about it that hydrogen will be the future fuel of choice, however in the meantime the transition over to hydrogen will still require massive gas reserves and the subsequent storage facilities for the same.
I'm wondering several things though. If the ML application was originally for hydrogen storage, would this have had a greater likelihood of success ? I believe it would !
Now i know that gas storage caverns can be converted for hydrogen storage, but again, would we get a better outcome on the caverns decision if this was for hydrogen storage from outset ?
Now. If Infa were to drop the gas storage caverns application and re apply for a hydrogen storage facility for the Islandmagee site, could the same analysis data be used for this application or would we be going back to scratch and the long winded timescales ? I don't know the answer to this. Anyone here know ?
Equally, should the ML decision for the gas storage caverns be negative (or have excessive conditions), but make reference to the potential for hydrogen usage, would Infa want to take up this whole process again now having the other focus of whirly windmill and big floaty boat related stuff ?
If they did, great. If they didn't, what would the value of the Islandmagee site, the research and work completed to date be worth in the open market if offered potential buyers ? ?
Obviously, if Infa did decide to sell it on it, it would be worth a lot more with all permissions granted, but what would it also be worth if sold with the potential for hydrogen storage and a couple of the big hitters wanting to get in on this hydrogen storage market ? These big hitters might be prepared to do this with the bigger legal guns to pursue it and substantially deeper pockets to fund it ?
A sale might produce quite a few million pounds to the coffers and if the fabrication contract to H & W was part of the sale condition too, that would also provide a contract value well into the 10's of millions.
Just me having too much time on my hands and thinking out loud again.
Hi TTNY
Have you read this report ? I think it makes it quite clear of the companies intentions on IM
https://wp-islandmageeenergy-2020.s3.eu-west-2.amazonaws.com/media/2021/07/06131913/Islandmagee-Energy-Transition-to-Net-Zero.pdf
Many thanks for that OT. I can't believe i missed reading this document. I had it saved to come back to, but for some reason didn't. Gonna get a cuppa here now and my head is down for some reading.
You are welcome TTNY i guess if IM gets permit from DAERA it could start work and change of use applied for in the interim
anyway guess we will find out more from UK gov re Hydrogen strategy maybe this week ?
https://www.spglobal.com/platts/en/market-insights/videos/market-movers-europe/080221-uk-hydrogen-eu-gas-storage-winter-oil-results-carbon-prices
I'm still curious what the monetary value would be if Infa did decide to sell on the opportunity of Islandmagee to another party. There's probably 3 prices though.
1. With planning consent declined.
2. With planning consent granted (with conditions)
3. Full planning granted to proceed.
My ideal scenario is that Infa are very much involved in taking this forward (and the subsequent financial gain), but could JW maybe have had enough of this ongoing IM saga and want to get some capital into the yards to move these forward with working capital to compete for the bigger contracts without the guarantees needed ? I'm wondering where he might see the bigger opportunity or is it possible to keep all these balls in the air simultaneously ?
Time will answer this one.
This is my thought on your questions TTNY
SSE report on how Uk can reach net zero without breaking the bank Hydrogen figures quite highly
https://insight.lcp.uk.com/acton/attachment/20628/f-d32a3b26-13a3-4334-9d7f-0cb5634e5b9d/1/-/-/-/-/Net%20zero%20without%20breaking%20the%20bank%20-%20LCP%20SSE%20report%202021%20.pdf
Page 13
". Hydrogen storage is
assumed to take the form of salt cavern storage, which is estimated to
be around 6 times cheaper than above ground storage"
Then we have SSE building Hydrogen storage in salt caverns
https://www.energyvoice.com/renewables-energy-transition/hydrogen/337069/sse-equinor-hydrogen/
Last but not least we have SSE this week mentioning Ireland and Scotland
https://www.energylivenews.com/2021/07/28/sse-renewables-and-siemens-gamesa-forge-green-hydrogen-partnership/
Islandmagee is the only salt caverns i can find in Ireland if they continue on same route as above.
They also have quite a bit of cash now !!
https://www.google.co.uk/amp/s/www.energyvoice.com/oilandgas/340663/sse-finds-buyer-for-sgn-stake-in-1-2bn-deal/amp/
Ta again OT for posting these links . The kettle is on again for another cuppa and some more reading.
Oldtramp,many thanks for links my friend will read through them later
TTN Re your 17.52 post, I always considered IM to be the jewel here, much of the financial benefit was around buying cheap and selling into the network as prices rise, as well of benefits of strategic storeage. I not aware of any shipyards that have turned a profit without government support