Extracting Manx gas deposits may be economically viable

Tuesday, 5 April 2016 00:00

It may now be economically viable to extract gas deposits from the Isle of Man's territorial waters:

That's the message from the Department of Economic Development which has appointed the British Geological Society to explore our hydrocarbon potential.

Data from the 1990s has been reanalysed and indicates the presence of gas deposits - BGS will act as technical advisors and encourage investment in the project.

21 companies showed interest in taking on the role with six submitting a formal tender - director of energy Doctor Ken Milne says this company has a good track record:

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