The government of Ireland has approved a Floating Storage and Regasification Unit (FSRU) in order to boost the country’s energy security and gas emergency reserves.
It will be owned on behalf of the state by system operator Gas Networks Ireland, in a similar approach to that taken by the country for oil security with the National Oil Reserves Agency.
The government said the “temporary” reserve would comply with EU standards and regulations.
Minister Darragh O’Brien said the approval follows 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,” he said.
“This emergency reserve will provide an alternative source of gas at an appropriate scale if Ireland was to experience such an interruption.”
He added that Ireland’s long-term energy security is best achieved through substantial growth in indigenous clean, renewable energy, alongside improvements in energy efficiency, electrification of heat and transport, and increased electrical interconnection with 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,” he said.
Ireland, like other EU states, has been obliged since 2017 to ensure that its gas infrastructure can continue to function if the largest single part of the system fails – which, in Ireland’s case, is interconnection to the UK gas network.
The announcement that the government will proceed with the construction of an FSRU means it should belatedly start to comply, according to an Irish Times editorial.
“A number of factors contributed to the delay, the main one being the difficulty of reconciling the expansion of the natural gas network with Ireland’s legally binding commitment to reduce emissions by 51% by 2030,” it notes.
“The circle was squared in November 2023 with the completion of a review that settled on a floating terminal to store liquified natural gas as the least bad option. Yesterday’s Cabinet decision gives effect to its recommendations.”
Energy Ireland has a hydrogen strategy which identifies 11 end uses covering a wide range of sectors, from industrial heat and energy storage to synthetic fuels and green hydrogen exports. It aims to generate 2 gigawatts from offshore wind by 2030.
