GIBRALTAR and Shell entered a Memorandum of Understanding (MOU) relating to the possible supply and storage of liquefied natural gas.
The formal take on a gentleman’s agreement will allow Shell to begin a study into the viability of establishing a storage facility on the Detached Mole that would supply a new power station on the North Mole.
Fabian Picardo, the Chief Minister, said: “The prospect of a company of Shell’s international stature and reputation returning to Gibraltar is excellent news.”
The study would run until mid-2015 and depending on its outcome Gibraltar and Shell will consider the future of their relationship.
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