Porcupine Basin may hold solution to thorny issue of reliance on gas imports

A NEW exploration drive in the Atlantic to address the nation’s near-total reliance on imported gas was launched by the government yesterday.

Noel Dempsey, the Minister for Communications, Marine & Natural Resources, has confirmed he will initiate a new licensing round for the Porcupine Basin in the current year.

This is a high risk area in the Atlantic Margin, which has been made more attractive to exploration groups by the huge rise in the cost of gas in the past few years.