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Joint Oireachtas Committee on European Union Affairs: EU-level Policy Response to Current Energy Security Issues: Discussion (19 Oct 2022)

.... We need increased permitting and to sort out the bottlenecks in the supply chains. I am not an expert on the Irish market, but I think both of these also apply to Ireland. The final thing is diversifying supplies. We are building more LNG capacity terminals, but these things take time. We have gotten a lot of LNG from the US since the crisis began, but we will not have enough for...

Joint Oireachtas Committee on European Union Affairs: EU-level Policy Response to Current Energy Security Issues: Discussion (19 Oct 2022)

...a long period. Gas storage would help to mitigate that risk. The Government has launched a consultation process energy security to consider the gas storage option and options for liquid natural gas, LNG. We need to consider and evaluate those options to understand which of them is best suited to Ireland's needs but also to our long-term decarbonisation goals. Once we decide which one it...

Joint Oireachtas Committee on European Union Affairs: EU-level Policy Response to Current Energy Security Issues: Discussion (19 Oct 2022)

Marian Harkin: ...that can be brought on board as soon as possible? What is the shortest amount of time before we have meaningful gas storage options that would contribute? Do the witnesses have any comments on the LNG terminal at Shannon? I will understand if they do not. I was concerned when Mr. O’Donoghue spoke about the winter ahead. He said that they are hoping for a mild winter and that...

Joint Oireachtas Committee on European Union Affairs: EU-level Policy Response to Current Energy Security Issues: Discussion (19 Oct 2022)

...gas had been capped early in the process, much of the revenue which accrued to the Russian state could have been reduced. It would have also helped to reduce electricity prices. I am referring to pipeline gas. LNG is different. Like oil, it is a global market, so the exporter can say no. With pipeline gas, there was some consumer market power to ask for a lower price. It would still...

Joint Oireachtas Committee on European Union Affairs: EU-level Policy Response to Current Energy Security Issues: Discussion (19 Oct 2022)

...for that. In respect of gas-storage options, the previously mentioned consultation on energy security the Government is engaging in at the moment looks at a number of options including State-owned floating LNG and strategic gas storage. The report states that floating offshore LNG storage is the option that would be the quickest to implement. It would fully mitigate against a 30-day...

Joint Oireachtas Committee on European Union Affairs: EU-level Policy Response to Current Energy Security Issues: Discussion (19 Oct 2022)

...and with electricity we will try 10%, but that still will not bring down the curve enough. We are hoping that a milder winter will mitigate the situation, but we are trying to get more gas in via LNG. In particular we have the idea of using floating terminals, also known as FSRUs, which are used in certain member states. For example, there is a joint project between Estonia and...