Ireland Approves Emergency Floating LNG Facility to Address Gas Supply Risks
(Reuters) — The Irish government has approved development of a temporary emergency facility for importing and storing liquefied natural gas (LNG), it said on Tuesday.
Ireland is one of five EU member states without domestic gas storage, which the government has said is a risk in the event of damage to one or both of its subsea gas interconnectors.
The emergency reserve will be a floating storage and regassification unit (FSRU), which will have capacity of 170,000 cubic meters of LNG and will be able to supply 200,000 average domestic gas customer demand for six months.
It will be owned on behalf of the state by system operator Gas Networks Ireland.
"It is a transitional measure – reducing the risk of stranded fossil fuel assets, for emergency use only, and does not support increased gas demand," the Department of the Environment, Climate and Communications said in a statement.
It added that the reserve would be in compliance with EU regulations requiring that a member state must have, in the event of disruption to its main gas infrastructure, capacity in its remaining facilities to satisfy total gas demand during a day of exceptional demand.
Ireland is moving away from fossil fuels to cleaner sources of energy as part of a goal to reduce greenhouse gas emissions by 42% from 2005 levels by 2030.
However, Ireland's fiscal and climate watchdogs warned on Tuesday that the country could have to pay EU compliance costs of between 8 billion euros and 26 billion euros ($8.4 billion to $27.2 billion) if it does not swiftly implement its emissions-cutting plans by 2030.
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