Enda Kenny (Mayo, Fine Gael) | Oireachtas source

It would negatively impact on Ireland's ability to engage with the European Commission over the coming months in the debate on how the important matter of financial liability for environmental damage will be addressed by regulators and it would send a negative signal to industry in advance of the 2015 Atlantic licensing round which closes for application on 16 September.

Following transposition of the directive the Commission for Energy Regulation will have to revise its existing petroleum framework so that it can operate on the basis of the directive from 19 July 2016. The regulator will need to publish proposals once the directive is transposed and allow time for consultation with the industry and other interested bodies. Slippage in its transposition will limit time for that consultation, which is very important.

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