Mr. Tim Cowhig:

We also develop other onshore projects. We have developed a number of projects over the past couple of years. Specifically on export, we will build our own infrastructure and will have no connection with the upgrade for 2025. However, so that there is no misunderstanding, there will be an opportunity for the Irish State, if it wants to, to tap into our infrastructure. There are huge benefits to the Irish State from that infrastructure. However, that is step two of any particular process. The export project we are discussing today stands up on its own economically. The off-take agreements will be fully funded by the UK, with no cost to the Irish taxpayer.

In regard to the guaranteed price for electricity, one of the things we will require to build a project such as this is a long-term off-take agreement, which will be for 15 to 20 years rather than 50 years. Much in this regard is dependent on the negotiations, which will be outside our hands.