Pat Rabbitte (Dublin South West, Labour) | Oireachtas source

The question raised by Deputy Moynihan really relates to the Corrib field. I suppose what is afoot is that companies are presumably taking steps to establish whether there might be adjacent resources of the same order or similar if they make a strike such as the Corrib find.

As regards fracking, which is a different issue, I would be slow to take my knowledge from signs on the N4. My colleague, the Minister of State, Deputy O'Dowd, has made it plain on a number of occasions that, other than the limited surveys authorised by the previous Government in respect of desktop study, no licences have been awarded in the Leitrim-Fermanagh area. There is no fracking going on and that is a fact. There are reputed to be not insignificant resources of shale gas in the Leitrim-Fermanagh geographical area. We will see if that is the case but the Northern Ireland authorities were also examining the matter.

The shale gas phenomenon has had a profound and dramatic impact on fuel prices in the United States, which have dropped by almost 70% in some states. The product also contributes as a feed stock in the manufacturing sector, especially in petrochemicals. It is of huge significance. In terms of the particular question posed by Deputy Colreavy, however, there is no seismic exploration going on, to my knowledge, in respect of hydraulic fracturing in any of the counties mentioned.

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