Dáil Éireann Debate, Tuesday - 28 November 2023
116. Deputy Neasa Hourigan asked the Minister for the Environment, Climate and Communications if he will clarify the engagement of private entities such as a company (details supplied) in the provision of floating storage and regasification units by the State; and if he will make a statement on the matter. [52087/23]
View answerIn order for Ireland to ensure adequate resilience in case of a major disruption to our gas imports, the Government has decided to introduce a Strategic Gas Emergency Reserve as a transitional measure to address security needs in the medium-term, to be used only if a disruption to gas supplies occurs.
My Department, in consultation with Gas Networks Ireland (GNI), the transmission system operator, will complete a detailed examination of the optimal approach to deliver the state-led emergency gas reserve. State-led means commissioned by the State via GNI, within a regulatory framework, overseen by the Commission for the Regulation of Utilities.
The proposal will be developed in accordance with specific criteria requirements including:
• a proposal which can be implemented quickly
• a proposal which does not inadvertently increase gas demand by increasing the supply available on the market
• a cost-effective proposal at the appropriate scale which provides sufficient resilience if a disruption to gas supply occurs, and
• a proposal which is compatible with the Climate Action and Low Carbon Development Act 2015-21
Based on preliminary analysis by my Department, it is anticipated that a floating reserve (FSRU) will best meet these criteria, a solution preferred by a range of EU Member States. This does not preclude a public-private partnership nor the involvement of private firms contracted to provide, build, or operate the necessary infrastructure.
I will return to Government for a final decision on this in Q2 2024.
