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Five things to know about InfraStrata, the new owners of Harland and Wolff

 

They've hit the headlines for rescuing the Harland and Wolff shipyard, but how much do we know about UK based energy company InfraStrata?

Islandmagee gas storage project

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InfraStrata recently announced it had completed pre-construction reports on its £265 million Islandmagee, Co Antrim gas storage project and expects that the remainder of milestones will be completed on time. However, the project faces considerable opposition on environmental grounds. Harland and Wolff workers are now set to be involved in steel fabrication works at the underground facility required for the project in the salt caves.

Formerly known as Portland Gas

InfraStrata was formerly known as Portland Gas plc when it demerged from Egdon Resources plc, a focused exploration and production business on January 16 2008. The company was admitted to the AIM market (a sub-market of the London Stock Exchange) on January 17 2008.  The name change to InfraStrata plc was effected on December 15 2009.

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Wants to have four or five projects at one time

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John Wood

John Wood

John Wood

 

Chief executive John Wood told web portal for private investors London South East in July that his company wants to have several projects underway at any one time, all with different stages of completion to develop InfraStrata as a business with a market cap of hundreds of millions. He said the Islandmagee project is their main focus and that they're making steps to monetise it. "We're starting now to look again at the next project and the next project, so really there will be four or five projects coming together. Islandmagee is a great project and we're making tremendous strides."

Pulled out of oil business

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Woodburn Forest

Woodburn Forest

Kevin Scott / Belfast Telegraph

Woodburn Forest

InfraStrata announced in 2016 it had decided to divest itself of "remaining oil and gas exploration interests" and move exclusively into gas storage. Protests had taken place over its exploratory drilling at Woodburn Forest near Carrickfergus because of water supply fears. No oil was found at the site.

Drew the attention of Mark Ruffalo

 

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Mark Ruffalo as The Hulk

Mark Ruffalo as The Hulk

Mark Ruffalo as The Hulk

The aforementioned exploratory drilling at Woodburn Forest drew the attention of green campaigners, the most famous of which was Mark Ruffalo. The Avengers star, who played The Hulk in 2016, wrote to then environment minister Mark H Durkan about his concerns of the water supply becoming contaminated.


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