Islandmagee Energy has pledged £1m to be utilised by the local community over the life of the planned underground gas storage cavern project at Larne Lough.
A fund has been launched to support local projects and initiatives.
A spokesperson for Islandmagee Energy said: “It is hoped that these funds will provide vital investment for many within the local community.”
A committee will be formed to distribute funds.
Applications are now being sought for a new Islandmagee Energy Community Fund Committee which will be responsible for the distribution of a £1m trust.
Islandmagee Energy says that this committee will “act as a selection panel, liaising with interested parties from the community to fairly and appropriately allocate investment”.
Applications must be forwarded to Islandmagee Energy before noon on February 28.