Oireachtas Joint and Select Committees

Tuesday, 30 May 2023

Joint Oireachtas Committee on Climate Action

Liquefied Natural Gas and Oil Prospecting: Discussion

Mr. Gergely Moln?r:

It is certainly the case that policy measures are extremely important for setting up the framework of how the gas energy markets evolve. We should differentiate between two aims. We want to speed up the deployment of renewables and the improvement of energy efficiency standards in order to put us on a trajectory towards net zero emissions. This will also make quite an important contribution to supply security because it will reduce reliance on fossil imports, including fossil gas imports.

At the same time, in the immediate short term, there is also a need for greater diversity of supply in terms of gas deliveries into the European market. The demand for this greater diversity of supply varies substantially from one market to another because some markets have been over-reliant on Russia in the past. Those markets are now looking to diversify their sources. That is particularly true of the markets in central and eastern Europe. This is very strong, one market to the other.

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