Abu Dhabi National Energy, the energy investment company known as Taqa, is pressing ahead with plans to build Europe's biggest underground gas storage facility despite an order to suspend drilling because of safety fears.
A Dutch council this week ordered Taqa to halt the €800 million (Dh4.18 billion) project after environmentalists and residents voiced concerns the plan to pump gas into a former natural gas chamber north of Amsterdam could destabilise an area that has felt earth tremors in recent years.
Taqa's shares on the Abu Dhabi Securities Exchange General Index slipped more than 3 per cent yesterday to close at Dh1.17 after reports of the suspension emerged.
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