I intend to take Questions Nos. 3, 23 and 77 together.
The European Commission recently announced its decision to set aside a special allocation of 300 million ECU for specific energy projects including a gas interconnector between Ireland and Britain. While it is too early to say what the precise EC contribution will be, this decision allows ample scope for substantial Commission support.
A considerable amount of work has been done by my Department and by Bord Gáis Éireann on the project, and I expect we will shortly be in a position to begin negotiations for supply and construction contracts with a view to having the gas on stream during the winter of 1993-94.
The project will be commissioned by Bord Gáis Éireann, and arrangements for pipeline management would be a matter for decision by the board in due course.
It is not possible to give a firm cost for the project at this stage. A rough estimate for an under-sea gas interconnector pipeline is between £100 million and £200 million, depending on route and pipe size chosen. The price of gas obtained via an interconnecting pipeline will be a matter for negotiation and it would not be appropriate for me to speculate at this stage.
Funding, nett of Community assistance, will be provided by the board, in association if appropriate, with any coventurer. It is not possible to estimate the effect of this on BGE's Exchequer dividend; that will depend, inter alia, on the amount and cost of any debt, the price of imported gas and the commercial results.