Green groups challenge ESRI research over liquefied natural gas (LNG) projects

A number of environmental groups have challenged research by the Economic and Social Research Institute that Irish consumers would pay significantly less for their gas if liquefied natural gas, or LNG, facilities were given the go-ahead.

Green groups challenge ESRI research over liquefied natural gas (LNG) projects

A number of environmental groups have challenged research by the Economic and Social Research Institute that Irish consumers would pay significantly less for their gas if liquefied natural gas, or LNG, facilities were given the go-ahead.

The research showed that combining imports of LNG at a proposed terminal on the Shannon estuary with a storage facility at Islandmagee, in Co Antrim, would lower household gas bills.

The projects, which have the backing of the EU to integrate European energy markets, would lower prices, as Ireland could tap into world market prices, which are significantly lower, and help the country to transfer from oil and coal.

But the green groups, which include Safety Before LNG, Friends of the Irish Environment, and Friends of the Earth, said the ESRI bulletin didn’t take account of the costs of climate change involved in LNG gas “and the economic consequences related to the need to fully decarbonise our economy by 2050”.

In an open letter to the ESRI, the groups claim that there are hidden costs with LNG.

“LNG is a very capital- and energy-intensive industry. There is also an operational expense and a shipping expense.

“On top of that, the process is complicated and requires up to 25% of the energy content of the gas, making it, therefore, a risky bet for a country that counts on gas, at a time when we need to get completely off fossil fuels,” the letter said.

“Wind and solar are now cheaper than coal and fossil gas in many regions. This means new fossil gas capacity often displaces new wind and solar, rather than old coal,” it said.

More in this section

Budget 2022 Logo

What impact will this  year's budget have on you and your business.

IE logo
Devices


UNLIMITED ACCESS TO THE IRISH EXAMINER FOR TEAMS AND ORGANISATIONS
FIND OUT MORE

The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
Puzzles logo
IE-logo

Puzzles hub

Visit our brain gym where you will find simple and cryptic crosswords, sudoku puzzles and much more. Updated at midnight every day. PS ... We would love to hear your feedback on the section right HERE.

Lunchtime
News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up
Revoiced
Newsletter

Our Covid-free newsletter brings together some of the best bits from irishexaminer.com, as chosen by our editor, direct to your inbox every Monday.

Sign up