Bernard Durkan (Kildare North, Fine Gael)
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Question 463: To ask the Minister for Communications, Energy and Natural Resources the storage capacity of oil, gas, coal or other fuels; his plan to improve this in line with economic development requirements; and if he will make a statement on the matter. [23432/10]

Eamon Ryan (Dublin South, Green Party)
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The National Oil Reserves Agency Limited (NORA) is responsible for ensuring that Ireland meets its EU and International Energy Agency (IEA) obligations to maintain 90 days' oil stocks for use in the event of an oil supply disruption.

NORA meets its stock-holding obligations by a combination of wholly-owned stocks and by entering into agreements with third parties in Ireland and other EU Member States.

NORA currently holds approximately 80 days of Ireland's 90 day stockholding requirements, the balance of which is held by industry. Of the stocks held by NORA, approximately 45% are held as physical stocks on the island of Ireland, 40% are held as physical stocks abroad, and 15% are held as stock "tickets" (short term contracts to purchase oil in the event of a crisis).

NORA's storage capacity in Ireland at present is 666,657 tonnes and holds stocks of Gasoline, Kerosene, Jet Kerosene, Gas Oil and Diesel. At present the majority of NORA's stocks in Ireland are held at Bantry. Government policy is to increase the volume of strategic stocks held on the island of Ireland, subject to value for money considerations. NORA is delivering on this objective through the development of three new locations on the island of Ireland (Ringsend, Tarbert & Kilroot), with facilities for 320,000 tonnes of storage. NORA is also considering further storage opportunities, with a view to further increasing the level of stocks held on the island.

Security of gas supply is a fundamental priority for the Irish economy given its continued importance for power generation. Given our high level of import dependence over the interconnectors with the UK, gas storage has an important role to play in contributing to enhanced gas security for the island of Ireland. The Report on an all-Island Common Approach to Gas Storage and LNG reinforces the case for additional storage facilities.

The existing commercial gas storage facility at Kinsale has the capacity to hold 198 million cubic metres. Licensed for use by Bord Gáis Éireann, the facility can supply around 50% of residential and SME gas needs for up to 50 days in the event of a gas disruption.

The short to medium term prognosis for the security of Ireland's gas supplies is relatively secure in light of the projected relative stability of the UK gas market. Increased global gas supplies, the growth of LNG and reduced global demand has lead to the IEA projecting a more benign world outlook for the next few years. Nonetheless the risk of supply disruption should never be discounted and the continuing depletion of North Sea gas supplies means that Ireland will become reliant, over time, on gas supplies from more distant markets. The impact of the Russia Ukraine dispute on a number of Member States in early 2009 highlighted the issue of gas security of supply for the EU. The key objective of the proposed EU Regulation on Security of Gas Supply is to ensure that the market meets the gas supply needs of Member States including through commercial gas storage.

I welcome the current market interest in developing further commercial gas storage, both in Ireland and in Northern Ireland.

My Department is working with the Department of Enterprise, Trade and Investment in Northern Ireland, and the energy Regulators North and South on actions to enhance security of gas supply on the island including the scope for commercial gas storage.

The development of the Corrib Gas field would also provide a new source of gas supply which could meet up to 60% of our annual demand in its early years of operation.

In addition, the interest in providing liquefied natural gas storage on a commercial basis is also an important development. Shannon LNG has received planning permission to construct an LNG re-gasification terminal at a site located on the Shannon Estuary. This facility could potentially provide up to 40% of Ireland's gas. LNG has the potential to improve Ireland's connectivity to the global gas market, which would be a critical factor in the event of a major supply disruption.

I have no function in relation to storage capacity for coal.

Bernard Durkan (Kildare North, Fine Gael)
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Question 464: To ask the Minister for Communications, Energy and Natural Resources when it is expected that all oil, gas or other mineral discoveries on and offshore are likely to become available for commercial purposes with particular reference to those areas that have shown discoveries of commercial value but not yet developed or available; and if he will make a statement on the matter. [23433/10]

Conor Lenihan (Dublin South West, Fianna Fail)
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The only petroleum discovery that has been declared commercial but has yet to be developed is the Corrib Gas Field. Construction of the Corrib Gas Terminal at Bellanaboy is almost completed as are the subsea facilities at the Corrib Gas Field. Last summer the 83 km offshore section of the Corrib gas pipeline was installed.

Completion of the development works by the developers, which is subject to conformity with all statutory consent requirements, is the principal factor that will ultimately determine the date for first gas.

With regard to non-petroleum minerals, exploration and development is undertaken by private enterprise and regulated under the Minerals Development Acts, 1940 to 1999. New exploration is continually undertaken as part of my requirements to holders of Prospecting Licences. While there have been some encouraging results in a number of areas, no new commercially viable deposits of non-petroleum minerals have been discovered in recent years.

Details of Prospecting Licences can be found in the six-monthly reports to the Oireachtas, which I am obliged to lay before the Houses. The last such report was in respect of the six-month period ended 31 December 2010 which was recently laid before the House.