- InfraStrata, a natural gas storage capacity developer, on Tuesday applied to for an additional mineral prospecting Licence relating to its Islandmagee gas storage project.

This new application lodged with the Department for the Economy in Northern Ireland for the Islandmagee gas storage project covered a block of land adjacent to existing parcels of land under licence to InfraStrata, the company said. The Licence application covered the area from Ballylumford Road through to Browns Bay.

If successful, this application could facilitate the development of an additional 15 gas storage caverns in addition to the 8 already planned and approved for the project, the company added.

'Whilst no guarantee can be given that this licence application will be successful, it is one of the first steps in the process for the proposed additional caverns. Over the coming months, additional applications will be required as well as various new landowner agreements, the company said.

At 8:00am: [LON:INFA] Infrastrata PLC share price was +0.06p at 0.93p

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