Page 9 - GLNG Week 26

GLNG COMMENTARY GLNG

Ireland takes aim at gas

Ireland’s new government has banned the issue of new gas

exploration and production licences, and also opposes imports

of shale gas in the form of LNG

POLICY IRELAND’S new government has vowed to end development would continue, as it is a “transi-
exploration for natural gas, a move which the tion fuel.”
WHAT: industry has warned will stifle investment and Ireland meets around 60% of its gas needs
Ireland’s new government increase the country’s dependence on imports. with supply from the Corrib and Kinsale Head
has banned new After months of negotiations after general gas fields, as well as several smaller deposits. But
gas exploration and elections in Ireland, a new coalition government these fields have been producing for decades and
production, and also was formed on June 27 between the country’s are now mature. As a result, Ireland has been get-
opposes imports of LNG two main political parties, Fine Gael and Fianna ting an increasing share of its gas from the UK.
that was produced from Fail, and the Green Party. The group has pub- The industry is hopeful that other fields sim-
shale gas. lished its Programme for Government, which ilar in size to Corrib can be found. In a state-
includes policies aimed at lowering Ireland’s car- ment in mid-June, the Irish Offshore Operators’
WHY: bon emissions. The programme has been praised Association (IOOA) dismissed the govern-
The move follows a by environmentalists, but the oil and gas indus- ment’s position on gas exploration as “virtual
similar ban on oil try says it will in fact increase Ireland’s carbon signalling.”
licences last year. footprint, damaging its economy in the process. “Not everything in this document is good for
Ireland will no longer issue licences for the the environment. Measures such as banning gas
WHAT NEXT: exploration and production of gas, the pro- exploration licences are virtual signalling ges-
By shutting the door on gramme states. The former Fine Gael minor- tures which, while appealing to the Green voter,
domestic supply and LNG ity government took a similar step in banning will ironically increase our emissions,” IOOA
imports, Ireland risks new oil licences, but stated at the time that gas CEO Mandy Johnston said.
becoming too reliant
on UK imports for its
security.

Ireland meets around
60% of its gas needs
with supply from the
Corrib and Kinsale
Head gas fields.

Week 26 03•July•2020 www. NEWSBASE .com P9