Minister Darragh O’Brien has today received Government approval to proceed with the development of a State-led strategic gas emergency reserve. The delivery of a temporary gas reserve is critical to Ireland’s energy security as we continue to transition to indigenous, clean renewable energy. Crucially, the strategic gas emergency reserve will also ensure compliance with EU standards and regulation.
The emergency reserve will be in the form of a Floating Storage and Regassification Unit (FSRU), to be owned on behalf of the State by the system operator, Gas Networks Ireland (GNI). This is a similar approach to that used for oil security by the National Oil Reserves Agency.
In identifying this as the optimal approach, the Department has built upon the extensive review of security of Ireland’s gas and electricity systems which was approved by Government in the ‘Energy Security in Ireland to 2030’ plan in November 2023. The plan sets out Ireland’s ambition to transform our energy system and support our climate objectives. The plan includes 28 actions, under the pillars of sustainability, affordability and security. Under Action 17 of that plan, GNI was tasked with reviewing and recommending the optimal approach to deliver the strategic gas emergency reserve.
The development of a state-led reserve in the form of an FSRU is consistent with Ireland’s climate law. It is a transitional measure – reducing the risk of stranded fossil fuel assets, for emergency use only, and does not support increased gas demand.
Minister Darragh O’Brien said: “The approval of this approach represents the culmination of extensive research, analysis and engagement in relation to Ireland’s energy security needs. As a small island nation reliant on interconnection, our exposure to potential disruption to gas supplies presents a significant risk to our energy security, and the continuity of supply to businesses and households across Ireland. This emergency reserve will provide an alternative source of gas at an appropriate scale if Ireland was to experience such an interruption.
“Our view remains that long-term energy security is best achieved through substantial growth in indigenous clean, renewable energy; improvements in energy efficiency; electrification of heat and transport; and increased electrical interconnection with our European neighbours. This will minimise the imports of fossil energy in the long-term. In the meantime, the development of a state-led, strategic reserve will ensure the continuity of gas supply as an essential transitional energy security measure.”
