Simon Coveney (Cork South Central, Fine Gael)
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Question 951: To ask the Minister for Communications, Energy and Natural Resources the funding he has allocated to the Strategic Oil Storage Project; the actions he has taken to advance this project; when he expects the project to be completed; and if he will make a statement on the matter. [22743/08]

Eamon Ryan (Dublin South, Green Party)
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Under the Energy Policy Framework 2007-2020 the Government is committed to rebalancing the strategic oil reserve by maximising Ireland's wholly owned stocks of oil and the level of stocks held on the island, subject to increased storage availability and value for money considerations.

The National Oil Reserves Agency (NORA) is working to increase the volume of NORA owned oil stocks stored on the island of Ireland in order to reduce Ireland's dependence on stock tickets and storage abroad.

The NORA Strategic Storage Plan 2008-2012 envisages that by 2012 the Agency will own 80 days of Ireland's European Union obligation in both Category I oil (Petrol) and Category II (Middle Distillates — Kerosene, Jet Kerosene, Gasoil and Diesel). As consumer companies hold large quantities of EU Category III (Fuel Oil) there is no need for NORA to own any of this category of oil.

NORA currently owns 36 days of Category I oil most of which is stored in Ireland. NORA also owns 62 days of Category II stocks most of which is stored in Ireland. NORA has purchased 12 days of Category II stocks since the beginning of the year and the Agency is in the process of purchasing a further 14 days of this category of oil during quarters 3 and 4 of this year.

The NORA Strategic Storage Plan 2008-2012 envisages purchasing additional stocks of oil for storage in Ireland during the period of the Plan.

All NORA purchases of oil are funded by the industry levy on oil product sales. No Exchequer funding is provided for strategic oil storage. The Review of Security of Oil Supplies is currently being finalised and will inform decisions in relation to further strategic measures to secure oil stocks.

Simon Coveney (Cork South Central, Fine Gael)
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Question 952: To ask the Minister for Communications, Energy and Natural Resources the funding he has allocated for the creation of a strategic gas storage reserve on an all-island basis; the actions he has taken to advance this project; when he expects the project to be completed; and if he will make a statement on the matter. [22744/08]

Simon Coveney (Cork South Central, Fine Gael)
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Question 953: To ask the Minister for Communications, Energy and Natural Resources the funding he has allocated for the strengthening of the Ireland-Scotland gas link; the action he has taken to advance this project; when he expects the project to be completed; and if he will make a statement on the matter. [22745/08]

Eamon Ryan (Dublin South, Green Party)
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I propose to take Questions Nos. 952 and 953 together.

The Strategic Energy Infrastructure Programme of the National Development Plan envisages investment of over €1.25 billion in key strategic energy infrastructure projects in the period of the plan. A number of large scale public good energy infrastructure projects are identified in the Programme. These projects include enhanced security of gas supply through strengthening the Ireland/Scotland gas link and all-island strategic gas storage.

Future decisions in relation to progressing and funding the gas interconnection reinforcement and all-island strategic gas storage will be informed by ongoing consultation with the Commission for Energy Regulation and Bord Gáis Éireann and in light of the findings of the all-island study on natural gas storage and liquefied natural gas (LNG).