Dáil Éireann Debate, Tuesday - 5 March 2024
115. Deputy Bríd Smith asked the Minister for the Environment, Climate and Communications if he will clarify how the safety and security risks associated with a floating storage and regasification unit compare to the safety and security risks associated with geological storage of natural gas; and if he will make a statement on the matter. [10142/24]
View answerAs part of the Department’s Review of the Security of Energy Supply of Ireland’s Electricity and Gas Systems, Cambridge Economic Policy Associates (CEPA) completed a technical analysis which included a detailed assessment of a short list of mitigation options for gas security of supply, including strategic gas storage and strategic floating storage and regasification unit (FRSU). The technical assessment of each option focused on: the impacts on physical security of supply in a shock event; the impacts on gas and electricity prices both in a shock and resulting from operation in the market in general; and the impacts on carbon emissions both in a shock event and resulting from operation in the market in general.
Their analysis determined that a strategic FSRU is the only short-listed option that can fully mitigate all security of supply impacts in the tested scenarios. The strategic gas storage option, based on the Southwest Kinsale Reservoir which operated as a seasonal gas storage facility between 2006 and 2017, can only partially mitigate unserved demand. It is also noted that the field could not be replenished in case supplies from the UK were not available over a prolonged period.
The CEPA analysis was a key input to the 'Energy Security In Ireland to 2030' report and its Annexes, which concluded the long-term approach to securing Ireland’s gas supplies will include: the development of long-term gas storage solutions which can store renewable gas, in particular hydrogen; and on a transitional basis, the creation of a strategic gas emergency reserve.
Gas Networks Ireland (GNI), will complete a detailed examination of the optimal approach to deliver the emergency gas reserve, which will include a review of the safety considerations of such options. I will bring my recommendations to Government for a final decision on this in Q2 2024.
