Eamon Ryan: Emergency gas storage ship key part of energy security plan 

Energy Minister Eamon Ryan said he aimed to keep costs down for gas and electricity customers. Picture: Leah Farrell/RollingNews.ie

The State is to acquire a new emergency gas storage ship, as part of the  Government's overall plan to ensure energy security, Eamon Ryan has said.

The Energy Minister admitted the cost of the project would “not be cheap” but insisted it was needed to deal with potential disruption to gas supplies in the future — citing the bombing of the Nord Stream Pipeline last September.

The plan is to be examined in detail by Gas Networks Ireland (GNI) and it is expected a final decision will be made next year.

Mr Ryan said as part of plans to pay for the gas storage ship, the Government would be looking at a “small charge” on metered energy use. This means individual households will not have to pay as much as larger energy consumers, like businesses and large industrial operations.

He said the charge could take a similar form to the National Oil Reserves Agency levy, which is charged on petrol and diesel products.

Mr Ryan said the final detail will need to be worked out on whether or not this levy is paid by either gas or electricity customers, adding he aims to keep the costs down.

Asked where the ship could be located, Mr Ryan said this would be determined by GNI but it would need to be kept within deep water due to its size.

'It will not be cheap'

“It will not be cheap, it is expensive. It’s very large infrastructure, but I think we can get it at good value, at relatively low cost,” Mr Ryan said, adding the Government would be careful with the public's money on this project.

Asked if he had received any concerns or pushback from within the Green Party over the plan, Mr Ryan said there had been an acceptance of the need for a “State-led” strategic storage facility.

“I think all the conversations I’ve had with environmental NGOs, our own party and with the opposition is broadly a recognition that that makes sense,” Mr Ryan said.

Mr Ryan made the comments as he launched the Government’s new energy security strategy, entitled 'Energy Security in Ireland to 2030'.

Among the key conclusions set out in the report is a call for Ireland to move towards becoming a net exporter of energy rather than a net importer. 

Mr Ryan said this would be achieved by focusing more on renewable energy, including the development of offshore wind facilities.

When asked if the new plan would mean all future oil and gas exploration would be terminated, Mr Ryan said: “The idea that we go out into the Atlantic, and it’s about €100m a well drilling, where the odds of finding something are 30, 40, 50 to one, is just not a sane investment or sane decision for any government.” 

“We will go out and we will tap into what we know is a certainty, the development of offshore winds in the same waters.”

Mr Ryan said Ireland is expected to reach 22 gigawatts of renewable power by the end of the decade, of which eight will be solar, nine would be onshore wind, and the remaining five offshore wind.