Page 13 - Gi February 2019 - flipbook

Construction of the Cluden to
IRELAND Brighouse pipleline
Gas Networks Ireland secures

€100m EIB investment NEIL THEASBY

GAS NETWORKS IRELAND a third of Ireland’s energy Communications, Climate energy supply while also
has agreed a €100 million requirement and helps Action and Environment playing a major role in
financing facility with the to generate more than Richard Bruton said: decarbonising our economy.
European Investment Bank, 50 per cent of Ireland’s “I am delighted to see This investment in Ireland’s
reports Network. electricity. As natural gas this investment by Gas gas network will allow
The facility will underpin a is the cleanest fossil fuel, Networks Ireland and the us to ensure that Ireland
total €205 million investment it is the most efficient European Investment Bank. continues to enjoy a modern
in Ireland’s gas network. accompaniment to “Gas has largely displaced and safe energy supply for
This investment will intermittent renewables higher CO2 emitting decades into the future.”
further modernise and such as wind and solar. fossil fuels in Ireland’s European Investment
extend Ireland’s gas network, The investment generation mix and that Bank President Werner
including the completion programme includes has played a part in the Hoyer said: “The EU
of the Scotland to Ireland construction of a new 50km reduction in emissions from Bank has a strong track
interconnector project. parallel connection between power generation that we record of supporting
The upgraded infrastructure Cluden and Brighouse, in announced [earlier]. energy investment across
will facilitate gas innovation Scotland. At present, the Managing Director of Ireland. New investment
projects such as renewable gas connection between the Gas Networks Ireland Denis by Gas Networks Ireland,
gas and compressed natural UK and Ireland is dependent O’Sullivan added: “We are supported by the €100
gas (CNG), which will play on a single pipeline. delighted to announce this million of new financing
a role in decarbonising the Gas Networks Ireland funding agreement with the from the EU Bank, will
Irish economy. The Gas intends delivering 20 per European Investment Bank. strengthen security of
Networks Ireland project cent of all gas on the This finance is a further energy supply to customers
will benefit over 700,000 network from renewable endorsement of our strategy across the country and
customers nationwide. sources by 2030. to provide Ireland with a ensure an alternative to oil
Natural gas provides over Minister for secure and competitive and coal.” ■

UNITED STATES gas directly to Germany. that the pipeline, which will
Berlin and Moscow
Tough to stop Nord have been at odds since bypass Ukraine by running
under the Baltic Sea, will
strip Ukraine of important
Russia annexed Crimea four
Stream 2 now it’s being years ago, but they have transit revenue and says
a common interest in the
Moscow is using the
built - EU’s Oettinger Nord Stream 2 project, project to divide Europe.
Ukraine derives up to
which will double the
capacity of the existing three per cent of its gross
Nord Stream 1 route. domestic product (GDP)
US PRESIDENT DONALD would be difficult now that “I was never a great from transit charges.
Trump’s criticism of the it is being built, European supporter of Nord Stream Oettinger, a German,
Russian-backed Nord Commissioner Günther 2,” Oettinger, the EU’s pressed Russian gas giant
Stream 2 pipeline is no Oettinger has said. budget commissioner, told Gazprom, which is leading
reason to stop the project Trump has attacked German magazine Der the project, to agree “a fair
and any attempt to do so Berlin for supporting the $11 Spiegel. “But the truth is the deal on the further use
billion gas pipeline spanning pipeline has long been under of the existing pipelines
the Baltic Sea, accusing construction and can no through Ukraine”.
Germany in July of being a longer so easily be stopped.” Gazprom is the sole
“captive” of Russia due to its He added: “Trump’s threats shareholder in Nord Stream
reliance on Russian energy. are no reason for that.” 2, shouldering half of the
US Energy Secretary Rick Germany refuses to join €9.5 billion construction
Perry has previously said opposition to the project cost. Gazprom’s European
NORD STREAM 2 the option of imposing from the EU executive, Uniper and Wintershall,
partners are Germany’s
from many EU states and
that Washington retains
sanctions on companies
describing it as a private
Anglo-Dutch group Royal
working on the pipeline,
Inside pipelay vessel Audacia
Washington is concerned
which would bring Russian enterprise. Dutch Shell, France’s Engie
and Austria’s OMV. ■
13

News.indd 8 17/01/2019 12:34