Corrib Gas Project mired in corruption allegations and a related cover-up led by Michael Crothers
Paul O’Donoghue: 18 November 2015
The company behind the controversial Corrib gas project racked up losses of over €98m last year as it awaits a final government permit to begin flowing gas at the site.
Accounts just filed for Shell E&P, the Shell subsidiary managing the project in Ireland, show administrative costs amounted to €18.8m last year, down from €20.3m in 2013.
It made an operating loss of just over €26m compared to €28.5m the year before. Most of the loss was an actuarial loss that related to the firm’s pension scheme.