RE: Questions please4 Sep 2022 22:14
Hi all,
While Morocco is very much now in focus and quite rightly so, I wouldn’t take eyes off Ireland.
Minister Ryan in the Business Post.
After the usual rhetoric the conversation with Daniel Murray turns to the energy report.
https://www.businesspost.ie/news-focus/ryan-says-government-wont-be-found-wanting-on-energy-crisis/
This is the interesting part.
“While energy price is the concern in the short term, a wider strategy on how to make Ireland energy secure is also on Ryan’s mind.
A long-awaited energy security review is to be published this week, and the Business Post understands it will recommend among many options the construction of a state-owned LNG terminal or gas storage facility.
While Ryan said he did not want to discuss the report before his government colleagues had a chance to look at it, he said some form of gas storage was something we “need to do”.
“It won’t in one way or another address the immediate crisis. We are not going to develop and deliver storage in the next two years. Even if we wanted to, with everyone out there buying up every floating LNG vessel that exists, we would be at the end of a very long queue,” he said.
Ryan said any LNG or gas storage facility would have to be future-proofed to be able to handle hydrogen or other zero carbon gases. “Otherwise you have stranded assets that are expensive,” he said.
On the issue of how secure our gas flows are from Britain, which provides more than 70 per cent of our gas needs through a twinned interconnector with Scotland, Ryan said he believed they were both physically and politically secure.
“This new energy world will require interconnection and cooperation. If the UK goes it alone, it will pay a very high price. That high price would knock out its digital industries and high-energy industries.”
Ryan also said that while there had been speculation about Britain cutting off Europe, in fact it had been helping bolster European gas stock in recent months.
“Why is German storage at 85 per cent? Because Britain has been importing LNG in massive quantities, and shipping that gas into the European market,” he said.”
So there you have it from the horses mouth.
LNG terminal or gas storage.
In my opinion, both but not state controlled not with Ireland’s track record of getting anything done.
Morocco.
Briefly, impossible to predict MC or SP.
But what I believe may happen.
Drill MOU2 (formerly MOU4) perforate and test MOU1 and MOU2.
Move-on to drill MOU5 and MOU/NE as per exclusivity agreement.
(Agree some form of payment with Star Valley for further works)
Then simultaneously test MOU5/MOU/NE and the old TAF-1X well (appraisal)
Remember long lead items 4 x wellheads on order when we are drilling 3 x wells.
Why the extra wellhead ??
If we complete all this work before year end and prove to be a successful campaign,
What price then !
This coming week or two should be very interesting.
Sorry can’t make the presentation.
W
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