Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Providence announced Alan Curran as Providence's acting CEO on 4th July and yet we haven't heard a word from him. Has he got cold feet and run away, by any chance, and they haven't told us?
Has anybody heard what the situation is or is he just taking a big fat salary as he sits on his rear end?
https://www.irishtimes.com/business/2022/07/04/providence-names-scottish-based-oil-veteran-as-interim-ceo/
Anybody know anything?
Ryan, at a meeting of the North Seas Energy Cooperation (NSEC) and the the European Commission today contradicts some of the statements made with Varadkar.
He did say the "consultant’s study on energy storage options would be delivered this week. It will look not just at gas but also at other forms of storage, such as battery, he said."
And he reiterated the state owning the storage solution but he kiboshed "fracked gas" saying as follows:
"He said that in terms of gas storage, the direction would be towards the State managing the storage rather than private companies. Sources also said that the gas stored would be existing forms of natural gas, from the Corrib field and also from the UK. It will not include fracked gas, nor will there be a need for a facility to process it. A proposed LNG terminal on the Shannon Estuary has been fiercely opposed by leading Green Party representatives."
So, the Greens have obviously got to him since his joint statement with Varadkar where "fracked" gas was part of the solution.
Less than a week before we know who and what is going to "store" all that gas we need for supply and backup and since Corrib produces only 67% of Ireland's gas needs where will it get the gas to put into "storage"?
It seems Varadkar and Ryan were on Morning Ireland and it seems the opposition to LNG and storage were now regarded as "the sensible thing to do".
So, is it a rock and a hard place for Ryan of either LNG or indigenous supply?
Quote:
"Earlier, the Tánaiste said it “makes sense” for Ireland to have liquified natural gas (LNG) storage and the Environment Minster Eamon Ryan will bring forward storage proposals in the coming weeks.
It comes as Minister Ryan and the Green Party have strongly rejected proposals to install an LNG terminal at Shannon Airport.
Mr Varadkar said Ireland is fortunate to have “good energy security” via the Corrib gas fields and the pipeline from the UK and Norway, but adding storage is the “sensible” thing to do. “So, to me it makes sense that we should have LNG energy storage. How you do that is a matter for debate, but Minister Ryan will be bringing forward proposals in the next couple weeks as to how we can achieve that."
Not only that, but Ryan is proposing an Irish storage facility owned by the country. We will be told, they tell us, in the next week or so.
Is Ryan finally being told what to do rather than making up policy on the fly?
We will wait for his suggestions as to how he is going to implement his "storage strategy".
https://www.msn.com/en-ie/news/world/energy-crisis-eamon-ryan-to-present-lng-storage-proposals-in-coming-weeks-as-eu-ministers-meet-today-on-emergency-plan/ar-AA11Djx5
Ryan is proposing a state owned gas storage facility but where is he going to get the gas to fill it?
"A state-owned gas storage facility will “be available to Irish people in the event of any supply disruption”, Eamon Ryan told a meeting of European energy ministers on Friday."
Kinsale is mentioned as one possibility but Barryroe sits below Kinsale so surely it would make sense to fill Kinsale from Barryroe?
And an interesting item from Kinsale Energy says: " Kinsale Energy operated the first and, to-date the only, offshore Gas Storage facility in Ireland". I presume this is still true so it makes sense to use Kinsale again but with the proximity of Barryroe surely the two go together.
We wait with bated breath to hear what Ryan is going to say on the matter since, according to him he will, "shortly publish an energy security review" or is this another "pigs might fly" episode?
https://www.businesspost.ie/politics/state-owned-gas-facility-will-not-breach-climate-targets-ryan/
https://galwaybayfm.ie/galway-bay-fm-news-desk/local-td-claims-eamon-ryan-should-resign-if-he-cannot-guarantee-electricity-this-winter/
Yes, when Hell freezes over & with Global Warming, that will be no time soon.
PS - Any ideas why PVR keep an expensive Irish Euronext listing, when the trades there are a joke compared to London.
SP up 11% in Dublin this morning!
People will do what needs be to stay warm ..https://www.rte.ie/news/ireland/2022/0907/1321187-turf-solid-fuel/
It looks as if Ryan will need a new gas pipe,…GL S
?BREAKING: The fracking ban will be scrapped **tomorrow**. Planning requests for new drilling expected within weeks. Major change in UK energy rules. More in @Telegraph.
https://twitter.com/benrileysmith/status/1567617883231993858?s=21&t=oopzp3s1ymJDWqeEffkukg
13m shares just traded … change is a foot
A tad ironic, Martin and Ryan tout Ukraines fight for independence but when it comes to energy.....
FRQ, nail on the head and there has been a notable change in the tone of the Irish Times and a number of others in the media, along with industry observers and participants in recent weeks, whilst the company remains silent publicly, it is very evident that a lot of discussion is going on behind the scenes and it will be interesting to see when Alan Curry decides the time is right for the company to participate front and centre in the debate, as it is clear they will have to do so at some stage,…GL S
Ml McDowell is really sticking his neck out on this. I think this is the third article he has written/published on this subject in recent months, and the first in which he has spoken up specifically for Providence Resources. The Irish Times is obviously happy to publish this, and is not known as a 'right-leaning' paper. As former Tánaiste (Deputy Prime Minister) and current Senator, he is probably pushing this view in his daily activities also. Ml McDowell is known for 'strident views' but he is also a heavy-hitter, has no need to be in anyone's pocket, and I think it is generally accepted that he takes positions he genuinely believes.
Strong piece in today Irish times by Micheal mcdowell castigating minister Ryan
“The Government faces difficult choices. At a minimum, we should permit further gas exploration development in our coastal waters. We should also permit the construction of gas storage infrastructure, and ensure that we can keep electricity generation, heating, industrial production, and transport running.
Green Party leader Eamon Ryan has signalled unequivocal support for Ukraine. Minimising the damage done by Putin to the EU economy necessarily involves protecting our own economy to the maximum possible extent. There is no rational basis for restricting further development of the depleting Corrib gasfield. Nor is there any reason to restrict the activities of Providence Resources in and around the Barryroe field.
There seems to be a certain disconnect between policy and practicality.”
“Let us be under no illusion. All the experts say we will probably need gas for the next 30 years, especially in the absence of nuclear power. The only way in which the Green Party’s policy can be defended is by throwing ourselves at the tender mercies of the imported gas markets. So how can we prohibit the construction of an LNG terminal without making ourselves totally dependent on gas interconnectors with the UK?
We simply cannot adopt a wing and a prayer approach to the economic survival and prosperity of our country. High-minded invocations of global warming targets – in the face of Putin’s blackmail and the fact that China is building more and more coal-powered generating stations – are admirable but highly irrational in the new era of energy-driven global conflict.”
Eamon Ryan was interviewed on Prime Time on Irish TV tonight. Quiet an easy interview as he wasn't asked about the LNG plant in Shannon or securing our own oil and gas supplies. He mentioned that the fossil fuel plant ( he must have been referring to the Moneypoint coal fired power station) had not produced the energy expected and this had caused a shortfall in supply. He should have been asked about the almost total collapse of power last month from wind energy, and if it is possible that there may be a fall off from electricity generated from wind energy if there is high pressure over Ireland this winter. I would like to see RTE establish the fact that renewables are intermittent and need to be backed up either by gas or nuclear.
I believe this is actually good news for PVR investors. All competitor schemes that are being posited (LNG and Nuclear) are being openly discouraged by the minister. This leaves offshore exploration at the Barryroe site as one of the few credible options left for Ireland.
Good work Ryan... Now pull your finger out and approve the lease undertaking to allow PVR and it's partners to firm up the Barryroe site. I guess PVR has time on its side as the precarious energy security situation that Ireland has been facing for a number of years is only going to get worse.
Fingers crossed for a positive outcome here.
..... and Ryan wants to look into a state run LNG terminal
France is doing it.
He might not but his successor will and in the meantime if he just refuses it the government will get sued. He s trying to buy time and hoping to be miraculously proved right somehow eventually unfortunately for him the situation keeps on going the other way with the Irish energy situation getting worse and worse as winter approaches.
https://www.spectator.co.uk/article/the-case-for-energy-nationalisation
Ryan has no trouble tapping into the French grid with an interconnector while their electrical output is 70% nuclear generated! Go on Eamon,continue to export our carbon footprint to other countries!
Former CEO of Bord Gais and Executive Chairman of Amerenco Solar John Mullins had this to say speaking to Richard Curran on RTE The Business on Radio 1. “ We certainly have issues with LNG and as I’ve stated before we certainly need now in the context of the new pan dime of not importing Russian gas to remove the moratorium on LNG and we do need to look at actually getting Barryroe up and running as we do have a gas security issue in Ireland and we can not absolutely rely on the British to forever supplying us.”
https://www.rte.ie/radio/radio1/the-business/
Barryroe is not mentioned at all by Ryan in this article, he is ruling out the LNG terminal and nuclear fuel , so I don’t know where you are coming from with your comments .
I just saw this in the paper. Eamonn Ryan will not approve BROE now or in the future. It may be that the Government will fall or that some other event occurs but Ryan will never approve BROE https://www.independent.ie/irish-news/politics/eamon-ryan-doubles-down-on-opposition-to-new-shannon-gas-facility-despite-crisis-in-ukraine-41960872.html
You might have seen this before but the status quo is still the same today as in June when the Independents had this press conference and nothing positive has happened in the meantime except things have got worse thanks to Ryan and the Green party.
https://gript.ie/were-in-the-beginnings-of-a-recession-stark-warning-from-rural-tds/
I have been hearing all week that the futures for nat gas in Europe have risen to between 300-400$ bop-e.
Does that not make our 10-20-30 % ? nat gas, way more valuable & so necessary to develop asap?
Even if there is an end of the Russian war, it totally changes all the old "investment case" calculations.
GLA, DB
PS - Maybe better to own some Lansdowne ( a UK company) that can totally sue Ryan under the ECT.