Marathon Oil has announced plans to drill gas wells approximately 21 miles off the coast of Wales. The company discovered a gas deposit there in 1994, but determined that the market price was not high enough to support the cost of developing the field while still providing an attractive rate of return. The current price of gas and its future outlook now favor the project.
The development will include the construction of an onshore LNG handling facility.
Friends of the Earth apparently approves of the plan to drill off shore wells and build a large industrial facility on the Welsh coast. (The following quote is from a BBC article at http://news.bbc.co.uk/1/hi/wales/4725573.stm)
“Environmental pressure group Friends of the Earth Cymru said it was important the project would not have an impact on wildlife in the Irish Sea, but added it believed gas was cleaner than some other forms of energy.
Spokesperson Gordon James said: “Although priority must be given to renewable energy systems, such as wind, water and solar power, there is a role for gas as it is cleaner than oil and coal.”
