VideoWhat does Ethiopia's Tigray crisis mean for the region? Mr Wood, who formerly served in the Merchant Navy on the Harland and Wolff-built SS Canberra, said the Islandmagee project meant InfraStrata brought something to the table that other companies could not. InfraStrata has proposed storing natural gas in seven underground caverns beneath Larne Lough, which it says would be capable of storing up to 500 million cubic metres of gas - enough to fill 200,000 Olympic-size swimming pools - in Permian salt beds. The yard went into administration in August following the collapse of its Norwegian parent company. The Harland & Wolff brand is recognised around the world. Belfast's Harland and Wolff shipyard, best known for building the Titanic, has a new owner. And other questions, 'I didn’t know other LGBT Muslims existed' Video'I didn’t know other LGBT Muslims existed', The 'Robin Hood' policemen who stole from the Nazis. The yard, best known for building the Titanic, was bought for £6m by the London-based energy firm, InfraStrata. InfraStrata plc (AIM: INFA) is a London Stock Exchange-listed firm focused on the development, commercialisation and operation of advanced high-value strategic … Harland and Wolff saved from closure The troubled history of Belfast's shipyard The company has been eyeing up another opportunity in Northern Ireland since 2015, but it has not yet come to fruition. Energy firm InfraStrata has completed its purchase of the Belfast shipyard Harland and Wolff. "You bring that all together it covers all eventualities that the future might throw at us.". Video. It claims it would provide more than 25% of the UK's natural gas storage capacity. InfraStrata says its primary goal is to "profitably realise the value" of the gas storage project and create an energy hub at Islandmagee. Mr Wood added that he wanted to get a new apprenticeship scheme up and running to provide "stability for the next generations coming through". The BBC is not responsible for the content of external sites. InfraStrata CEO John Wood said he believed there would also be opportunities to bring in new clients because of the "diverse skill set" at the yard. 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It says it will retain the 79 workers who are still employed, and hopes to increase the workforce by "several hundred" over five years. “We see enormous growth potential across all of these sectors. It is also planning a separate, floating gas storage facility. It then began looking into a range of potential energy infrastructure projects around the world. Close. .css-14iz86j-BoldText{font-weight:bold;}Belfast's Harland and Wolff shipyard, best known for building the Titanic, has a new owner. The company has been eyeing up another opportunity in Northern Ireland since 2015, but it has not yet come to fruition. The yard will now be operated under the name Harland and Wolff (Appledore), after the much larger Belfast site the same owner bought in December last year. H&W in Belfast employs around 80 people. Islandmagee Energy Limited, the operating firm developing this project, is 100% owned by InfraStrata. They've hit the headlines for rescuing the Harland and Wolff shipyard, but how much do we know about UK based energy company InfraStrata? What does Ethiopia's Tigray crisis mean for the region? The Australian city recorded a minimum overnight temperature of 25.4C. On the 5th December 2019 InfraStrata plc completed the acquisition of the assets of Harland & Wolff Shipyard in Belfast from the administrator. "I've got experience in shipyards, fabrication, oil and gas and defence," he said. Faced with competitive pressures, Harland & Wolff sought to shift and broaden their portfolio, focusing less on shipbuilding and more on design and structural engineering, as well as ship repair, offshore construction projects and competing for other projects to do with metal engineering and construction. InfraStrata later moved out of the oil business. Having completed a strategic review of the facilities post acquisition it is clear that Harland & Wolff can be utilised in adjacent markets to our existing projects building on our overarching strategy of operating high value strategic infrastructure facilities.