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Centrica, Gaz de France, First Oil to Jointly Built Gas Storage in UK

The proposal will focus on a development study to convert the Bains gas field in the East Irish Sea...

British enery giant Centrica is likely to look at building UK's first offshore gas storage facility with Gaz de France and First Oil, Aberdeen, the company said Thursday.

The project of GBP300 million will be the fist joint project of Centrica for more than 25 years.

The proposal will focus on a development study to convert the Bains gas
field in the East Irish Sea into a dedicated seasonal storage facility nearly
the UK's largest Rough gas storage facility.

Pre-development studies will run until early 2009.

If built, the storage could come on line in the winter of 2011-12, with a storage capacity of up to 20 Bcf, Centria said.