Michael Collins (Cork South West, Independent) | Oireachtas source

First, I congratulate the Minister, Deputy Eamon Ryan, on his new position. This is my first time speaking here before him. I wish him the very best.

I spoke here last night in detail about the amendment and the worries I have, coming from a rural constituency. It is my belief that it is tax. It is a climate action fund but my worry is it is a tax on the people of rural Ireland. I was not trying to be negative. I was trying to look at ways forward.

I have a different Minister before me today but, as I said, we have raised the critical issue of our natural gas. I spoke last night about the security of supply situation, which I consider to be dire. As the Minister wishes to increase energy efficiency under the proposed amendments for the climate action fund, I believe we need to get our house in order first.

While Ireland has an agency to safeguard a minimum level of oil reserves, it has become increasingly clear to me that Ireland is severely exposed. At present, there are security of supply issues in relation to our natural gas. As the Minister may have noted in the news recently, the Kinsale gas platform, one of our only indigenous sources of national gas supply, was recently turned off. This will result in a loss of local jobs in Cork. It also means that we are now in an extremely vulnerable position with regard to our national security of supply of gas.

Ireland currently produces more than 50% of its electricity from gas and we import gas via the interconnectors from the UK. We have no existing gas storage on the island of Ireland. The Corrib gas field will be gone within ten years and we are now fully reliant on the UK for gas imports. The UK is also reliant on gas imports and has experienced its own decline in gas production in the North Sea. The UK is also exiting the EU, meaning new risks to our economy. While the UK and Ireland are good friends, now the same cannot exactly be said of the EU and the UK, which are going through a messy divorce at present. If trade talks between the EU and the UK were to take a turn for the worse, there is not much preventing the British national grid operator from increasing tariffs on the interconnectors between the EU and the UK which would, in turn, directly hurt the Irish economy. I, therefore, strongly ask the Minister to improve our security of supply situation for natural gas. I propose that the Minister consider at the very minimum a floating liquefied natural gas, LNG, import terminal in Cork, which could guarantee our security of supply while developing offshore wind power and renewables. I am aware of a company here, which has a decent plan. I understand the Minister is dealing with many issues. Deputy Eamon Ryan is in a new Ministry. While the Minister has great capabilities, I respect the fact that there is a bit of pressure. There are other issues going on at present. However, I would like to sit down with the Minister and go through the potential of a floating LNG regasification terminal in Cork. Without me speaking for the next five or ten minutes, the Minister might give me some indication that he might be interested in listening to such a proposal.

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