Leo Varadkar (Dublin West, Fine Gael)
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Question 1562: To ask the Minister for Communications, Energy and Natural Resources the number of days of oil and gas storage the country currently has. [33121/10]

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 49% are held as physical stocks on the island of Ireland, 44% are held as physical stocks abroad, and 7% 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 711,997 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 Whiddy Island, 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 refurbishment 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.

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

Given the continued importance of gas for power generation, and our high level of import dependence, security of gas supply remains a fundamental priority for this country. It is clear that gas storage has an important role to play in contributing to enhanced gas security for the island of Ireland. Therefore, I welcome the current market interest in developing further commercial gas storage, both in Ireland and in Northern Ireland.