The developer behind plans for an offshore windfarm says the project must not be delayed on the basis of a ‘speculative and unproven’ gas exploration proposal.

A new company has come forward with proposals to develop a gas field in Manx waters - and believes it could generate £4bn in tax revenue.

Marque Oil and Gas is objecting to the plans for the Mooir Vannin offshore windfarm.

It has revealed it is seeking to obtain a licence to appraise a potentially large gas field in broadly the same area that Crogga had wanted to explore.

Marque is calling for a decision on the Mooir Vannin scheme to be deferred until valuations of both offshore wind and the gas field are fully considered.

But unaudited financial accounts for Marque Oil and Gas Ltd for the year ending March 31 this year show the company’s assets had fallen to just £220 with £675 owed to creditors.

A spokesperson for the Mooir Vannin Offshore Wind Farm project said: ‘The Isle of Man’s renewable energy ambitions are both achievable and critical to long-term energy security.

‘Ørsted brings unparalleled global experience to help deliver those aims - with decades of experience of delivering complex projects in challenging environments.

‘Attempts to delay a nationally significant renewable energy project on the basis of speculative exploration from an unproven venture are misplaced - similar promises have been made before and have repeatedly failed to materialise.

‘The island deserves a credible and evidence-led energy future - and that is what the Mooir Vannin offshore wind farm would deliver.

‘We remain focused on providing the Isle of Man with a dependable, clean energy source with proposals grounded in evidence, expertise and genuine capability.’

Proposals by Mooir Vannin Offshore Wind Farm Limited, part of Ørsted, could see up to 87 wind turbines, with a maximum height to blade tip of up to 350m, installed off the north-east coast of the island.

The Council of Ministers has now referred the application for examination to an independent panel of experts which will ultimately advise on whether a marine infrastructure consent should be granted.

Responses to the public consultation were published last month.

A total of 477 responses were submitted to the consultation which closed on November 18.

They included a submission from Marque which described the opportunity to develop the gas offshore the Isle of Man as a ‘now-or-never decision’.

It continued said: ‘We consider that the gas development will generate considerably more revenue to the Isle of Man government compared to the quoted value of £2bn for the windfarm over similar timeframes.’

The Mooir Vannin spokesperon added: ‘The examination is a formal legal process designed to focus on genuine, evidence-based concerns, rather than unsupported claims.

‘It’s a structured assessment run by independent examiners whose job it is to challenge everyone involved - including the applicant, stakeholders and objectors - in order to provide a recommendation report to the government.

‘It’s a process built around transparency and facts - every issue is put under scrutiny to test whether the points raised are real, relevant and backed by credible evidence.’