As the Deputy will be aware and as I have stated clearly, I will not support any funding for the proposed LNG terminals unless and until I am satisfied they pass the sustainability and security review I am putting in place. She has to be aware that the LNG projects, including that at Shannon, have been proposed by commercial developers. They are private sector projects and final investment decisions for them, including the sources of their funding and their compliance with legal and regulatory requirements for consents or permits, are the responsibility of the project promoters. In that context, I have no plans to intervene in individual commercial projects. I recognise that the revised EIB policy will no longer consider new financing for unabated fossil fuel energy projects from the end of 2021. The EIB recognises, however, the necessary role that gas will continue to play in the transition to decarbonisation. Within the gas sector, the bank will focus its support on projects aligned to the transition.
Shannon LNG has been on the list of projects of common interest since 2013, and while Ireland supported its inclusion on the fourth list, I have made it clear the Government will not consider any application for the EU Connecting Europe Facility unless and until it passes the tests I have set for it. In addition, I have instructed my officials to request that the European Commission review the implications of importing LNG, both conventionally and unconventionally extracted, into the EU, in terms of a sustainable, secure and competitive European energy policy.
The climate action plan I launched in June sets out an ambitious course of action over the coming years to address the climate challenge and to transition to a carbon-neutral economy. In the context of the transition, a comprehensive independent energy security and sustainability review will be carried out. It will examine the fuel mix necessary, including the role of gas in electricity generation, how and from where it is sourced, as well as the role of other technologies such as interconnection and battery storage as backup for renewables to ensure security of supply.