Press Release: 65 seconds of Shell/Corrib sales will pay €1,000 flaring fine

Wednesday September 14, 2016 22:18

by shelltosea

Shell fined EUR1,000 while making an estimated EUR240 million in Corrib sales so far this year

On Monday 5th Sept at Dublin District Court, Shell were fined EUR1,000 after pleading guilty to causing light and noise pollution from gas flaring at Bellanaboy refinery last New Years Eve. The prosecution was brought by the Environmental Protection Agency (EPA) following complaints from people living around the Bellanaboy refinery.[1]

The EUR1,000 fine is estimated to be 65 seconds worth of current Corrib sales revenue after Vermilion, who have an 18.5% stake in Corrib gas, recently stated that Bellanaboy had reached "full plant capacity" [2,3]. It is estimated that Corrib Gas sales revenues have totalled over EUR240 million so far this year, while no tax has been paid.

It is widely accepted that no or minimal tax will be paid by the developers of the Corrib Gas Project to the Irish state. Former Managing Director of the Corrib Gas project, Brian O'Cathain previously stated in 2010 "That Corrib will never pay tax".[4] While a Vermilion investor profile estimated it would be 7 years before any tax is paid. [5]

Shell to Sea spokesperson Maura Harrington stated "We've seen again lately how subservient the State has become to powerful corporations. Despite making almost ¼ billion euros so far this year from our natural resources, Shell will have a 0.000% tax rate for many years to come."

Shell to Sea spokesperson Terence Conway stated "The EPA took this case to give the impression they are doing something but they stood by for years and let Shell do as they wanted, including polluting the drinking water supply of the area. Now that Shell are making millions, it is safe for the EPA to pretend to go after them".

ENDS

Links

[1] Shell fined over noise pollution from gas flare at Corrib - Irish Times - Tom Tuite
http://www.irishtimes.com/news/crime-and-law/courts/dis...80673

[2] Vermilion Energy Inc. Announces Results for the Three and Six Months Ended June 30, 2016
http://www.vermilionenergy.com/news/latestnewsrelease.c...d=146

[3] Corrib Gas Sales Estimate - Shell to Sea
http://www.shelltosea.com/content/corrib-gas-sales-estimate

[4] Corrib 'will never pay tax', says project's former MD - News Release - Dublin Shell to Sea
http://www.shelltosea.com/content/news-release-corrib-w...er-md

[5] Vermilion Investor Profile - Seeking Alpha
http://seekingalpha.com/article/3754506-vermilion-energ...again

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Press Release: 65 seconds of Shell/Corrib sales will pay €1,000 flaring fine