The Shannon terminal would be the first LNG terminal to be built in Ireland. LNG terminals allow gas to be transported overseas, as the gas is liquified, transported on cargoes and regasified at the point of arrival. The gas is then transported to consumers via pipelines. The Shannon terminal is meant to facilitate gas imports from non-EU countries (such as the US) towards Ireland, the UK and the rest of Europe through the European network of gas pipelines. Shannon LNT Ltd. was originally owned by Hess LNG (a subsidiary of the US multinational Hess Corporation). However, after spending more than €67m trying to progress the project, Hess decided to sell the terminal to a new owner in 2016, due to financial difficulties. The new owner is currently unknown (January 2017) . Shannon terminal was granted planning permission in 2006. The terminal was approved a capacity to receive up to 1 billion cubic feet (bcf) per day and up to 4 LNG cargoes of 200,000 cubic metres capacity each. The Shannon LNG Terminal would result in the current interconnector gas pipeline with the UK becoming redundant (a ‘stranded asset’). This is because the interconnector is owned by Ervia (formerly Bord Gais), a state-owned utility, meaning that the costs of maintaining it would continue to be borne by Irish customers . As a result, the Commission for Energy Regulation (CER) ruled that Shannon LNG would have to contribute to the costs of the two new interconnecting pipes which transport gas between Ireland and the UK. Shannon LNG claimed the tariffs would cost them tens of millions and serve to subsidise their competition in the UK. Shannon LNG failed in a High Court action against the CER tariff scheme in December 2013.