Noel Dempsey (Meath, Fianna Fail)

Current high energy prices present us with a series of challenges and opportunities. The challenges are obvious but the opportunities may be less so. We have an opportunity to foster a new environment for oil and gas exploration in our waters. Through careful use of the policy instruments available to us, we can take advantage of increased interest in areas such as Ireland because of high prices and new technologies in deep sea exploration and, with a little luck, dramatically reduce our dependence on imported hydrocarbons. However, this can only be achieved if we continue to strike the best balance between royalties for the State and the possibility of greater energy independence. Equally, the State must retain the confidence of its people in its competence to deal with any international company that operates in this jurisdiction.

As I have explained in this House a number of times, there is a complex and comprehensive range of regulatory and legal instruments in place that must be fully complied with by any company if it is to operate in our waters. It is clear that there is a comprehensive and thorough regime in place for the management of any projects that come our way. As Deputies are aware, developments are in train in respect of the Corrib project that will further strengthen this area. However, because of the concerns expressed by local residents and the fact that this was the first use of that type of pipeline in the country, and notwithstanding the list of consents it needed to go through, I ordered a safety review of the onshore pipeline in August last year.

Advantica, which is a world leader in the field of pipeline safety, was appointed to carry out this work.

It conducted an exhaustive and highly professional review of the project as a whole——

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