LCC Group (www.lccgroup.co.uk), the Cookstown-based energy group, has acquired Cloghan Point Oil Terminal from AES Power in a multi-million-pound deal that could lead to energy-cost savings for businesses and consumers.

The LCC Group is an independent family-owned company established in 1980 that provides a range of services covering various energy sectors. Initially set up to provide domestic coal to homes in Northern Ireland, the company now supplies coal, oil, electricity, natural-gas and logistical freight services to homes across the UK and industry all over the world.

Cloghan Point Oil Terminal is located on Belfast Lough, near Carrickfergus; it was opened in the 1980s by Northern Ireland Electricity to supply Kilroot and Ballylumford Power Stations.

The facility has a 1,225m jetty; LCC plans to invest £15 million to create the only commercial terminal in Ireland able to facilitate the docking of 120,000-tonne tankers — up to five times the tonnage of ships presently able to dock.

Daniel Loughran, a director at LCC Group, said: “This is an exciting acquisition for us, as we add to our growing portfolio of energy-infrastructure assets.

We were attracted to Cloghan Point because of its sheer scale, in terms of its storage capacity and a 17m draft of water; we will soon be able to bring in larger tankers from around the world, including the USA, the Middle East and South America.

“This hasn’t been possible to date, so the local market has been limited in where it can source oil.”