The UK Government has given the green light to build gas storage facility in Lancashire.
The Preesall Underground Gas Storage Facility will extract gas from local underground salt caverns.
It is expected to create around 300 jobs during construction and 40 permanent positions once operational.
The project, which will be located on the east side of the Wyre Estuary Country Park, will act as a demand response facility, with gas entering the national system in response to market conditions, stated DECC.
Energy Minister Lord Bourne said: “Investment in new energy infrastructure is essential if we are to keep the lights on and bills down. This is a major project which will benefit the local economy by creating jobs and stimulating businesses.
“Gas is also the greenest fossil fuel and helps us lower our carbon emissions, which is important in the UK’s move to a cleaner energy future.”