An Cork East TD says Gas Networks Ireland told him and delegates from Youghal Business Alliance that Youghal might finally be able to get a piped gas supply.
Gas Networks Ireland controls access to the natural gas pipeline system.
The town may be eligible for a €3 million subvention to cover the current cost-benefit deficit of bringing gas to Youghal.
In the past, the IDA has highlighted Youghal's lack of a piped gas supply as a stumbling block in attracting industry and business to the town.
Deputy James O'Connor described the announcement as "extremely positive news" for efforts to attract major employers to Youghal.
RedFM News has contacted Gas Networks Ireland for a statement.
