Dáil Éireann Debate, Wednesday - 9 July 2014
312. Deputy Michael Colreavy asked the Minister for Communications, Energy and Natural Resources the projected income to the State from the Corrib gas field in the years 2015 and 2016; and if he will make a statement on the matter. [30347/14]
View answerThe principal direct financial return to the Exchequer from the Corrib gas field will be through the 25% tax that will apply to profits from the gas field. The level of profits will depend on a combination of factors including, the volume of recoverable gas, the cost of developing and operating the infrastructure, the price of gas over the life of the field, together with the timing and profile of production. The Corrib partners have indicated that the expected timeline for first gas is mid-2015. I would point out that the operation of the taxation system and receipt of revenue are matters for the Revenue Commissioners.
