RE: Securing Ireland’s Gas Supplies23 Mar 2024 18:38
6.38 The Department’s overall assessment is that the existing policy on natural gas is not adequate to address the range of risks considered fully and therefore ensure security of our gas supplies in the medium to long-term. While five key risks have been identified and considered in detail, other risks could emerge. Aside from reducing demand and increasing renewable gas, the key tools for gas supply risk management are diversity of supplies and increasing gas storage. These tools, which other Member States have utilised, have secured Europe’s gas supplies over the course of the last year in the face of a major disruption to gas supplies from Russia. Ireland’s diversity of supply is very limited and it has no gas storage.
6.39 Furthermore, the State is operating outside legal requirements set out in EU legislation”
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“7.6 Ireland does not currently allow, under primary legislation, for new exploration licences for either gas or oil to be granted. However, existing licence holders are permitted to continue to progress licences already granted. A significant number of consultation responses supported a change in Government position on this matter to reopen Ireland’s offshore for new gas exploration, with a number emphasising that this could be particularly valuable near the Corrib gas field where the infrastructure to land gas already exists.
7.7 The discovery of new indigenous natural gas reserves delivered to Ireland would enhance the security of our gas supplies. However, to issue new licences for exploration beyond existing authorisations would require a change in primary legislation and a reversal of Government policy. It would also require the roll-out of a large programme to encourage investment from oil and gas companies. Noting that many large oil and gas companies left Ireland following the decision to cease offering new licence areas (even though their existing licences were unaffected), investment conditions for petroleum exploration in Ireland are such that they would likely seek a significant level of reassurance on the policy before returning”
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“Recommendation
7.61 On the basis of a preliminary review, the Departmemt has identified an offshore Gas Emergency Reserve for use in the event of a disruption (provided through an FSRU) as an appropriate measure to address the identified risks to our gas security of supply, likely more feasible for implementation in the timeframe required, while also being compatible with the Climate Act requirements”
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“9.2 The Minister for the Environment, Climate and Communications will bring a memorandum to Government for decision in Q2 2024 following detailed examination and business case development by the gas transmission system operator, Gas Networks Ireland (GNI)”
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