Page 10 - EurOil Week 36 2022

EurOil POLICY EurOil

Ireland eases back on LNG opposition

amid energy crunch

IRELAND IRELAND is showing signs of reconsidering single pipeline that runs from the UK. The rest
its long-held opposition to LNG imports, with comes from the Corrib gas field off the west coast
Irish authorities are the government now weighing up proposals for of Ireland, although production is in decline and
reconsidering their regasification terminals to reduce the country’s is forecast to cease entirely in 2031 or possibly
long-held opposition to reliance on gas supplies from the UK. sooner.
imported LNG. Ireland’s deputy prime minister Leo Varadkar In its National Energy Security Framework
has said it makes sense to build LNG terminals published in mid-April, the government said it
to ensure Ireland’s energy supply security. This wanted to carry out an energy policy review to
puts the Fine Gaels party member at odds with provide “an overarching and comprehensive
Environment Minister Eamon Ryan, a member response to Ireland’s energy security needs in the
of the Greens, another of the three parties that context of the war in Ukraine,” and indicated that
form Ireland’s coalition government. Ryan has it would consider importing LNG as one of the
long opposed the construction of LNG termi- solutions to the current crisis. The results of that
nals, warning they would undermine the coun- review are yet to be published, however.
try’s climate ambitions. There are two LNG projects under con-
“So, to me it makes sense that we should have sideration in Ireland, although neither has
LNG energy storage. How you do that is a mat- made much progress for some time in light
ter for debate, but minister Ryan will be bring- of the government’s opposition. There is New
ing forward proposals in the next couple weeks Fortress Energy’s Shannon LNG project in
as to how we can achieve that,” Varadkar said the county of Kerry, and a floating import
this week. “That at least gives us the additional terminal proposed by UK-listed Predator
assurance that if something went wrong from Oil and Gas off the country’s south coast. A
the interconnectors to the UK, we would have third project in the country’s south was set to
our own way from bringing gas from the sea and be advanced by NextDecade, receiving sup-
have some way to store it.” plies from the US company’s Rio Grande LNG
A number of European countries have reas- development in Texas. But NextDecade has
sessed their positions on LNG in the wake of given up on the venture.
Moscow’s invasion of Ukraine and subsequent The national government’s opposition has
cuts in Russian gas supply that have exacerbated irked local politicians, eager to cut energy bills
the continent’s energy crisis. But Irish authori- and attract investment to their communities.
ties have been reluctant to lend support, given Earlier this month Fine Gael councillor for
the country’s commitment to making its power Kerry, Jim Finucane, urged the government to
generation 100% renewables-based by the end of “get real” on the issues of energy dependency
the decade. and protecting the most vulnerable energy users
For the time being, natural gas still com- this winter. Shannon LNG should be given the
mands a third of Ireland’s primary energy mix, go-ahead to safeguard Ireland’s future energy
with three-quarters of supply sourced from a supply, he said. ™

P10 www. NEWSBASE .com Week 36 10•September•2022