Eamon Ryan (Dublin Bay South, Green Party) | Oireachtas source

I will be dealing with questions on that issue later on. We have to be careful here. There will be certain short-term measures, such as the €200 credit that will be going onto people's bills this week. There will be medium-term responses to the crisis which include the likes of the acceleration of the retrofitting programme and the roll-out of renewables such as photovoltaic energy and other renewables projects. There are longer-term issues relating to strategic storage of gas.

Although some people are giving consideration to LNG in the context of an immediate decision, it is probably not of as much consequence or significance in the immediate crisis as some of the other measures, particularly with regard to oil fuels, for example, in respect of which we are more exposed, as the Deputy noted. All our oil is imported. We are fortunate in comparison with European countries that are further east and closer to Russia as a shut-off of Russian oil would have a more immediate strategic impact on them. The Whitegate refinery provides much of our diesel and gasoline and most of its crude oil products come from the west, such as from America. That means we do not have a huge volume of Russian oil in our system. However, as it is a fungible market and oil tankers can head in any direction, any supply shock on the oil markets affects every country. Probably the most immediate focus is on managing such supply shocks and we are doing that through the International Energy Agency.

See this speech in context