The Halite project is financially viable and able to attract significant backing to contribute to the extra storage capacity that is needed in the UK. Following consent, construction of the project will commence almost immediately, unlike many gas storage projects that have been approved but lack the economic and financial viability to get them off the drawing board. However, the project will need to attract large scale investment and for this to be successful a clear policy framework will be required.
The UK has made significant progress in recognising the need for increased gas storage in recent years. We believe that a number of further measures would help to bring forward the investment required to meet that need:
Halite believes that the Preesall project presents an ideal opportunity to develop a facility that could be used for decades to come, thereby helping to secure the UK’s future energy security. Crucially it also represents a much needed, significant investment into the UK economy at a vital time.
Read more about the project in our leaflet, Securing the UK’s Energy Future