A replacement for Ireland’s only natural gas reservoir could begin producing fuel in five years, according to its developer, who warns that the Government needs to clearly signal support for such projects.
The Corrib gasfield off the Mayo coast will run out in coming years, leaving Ireland without any domestic reserve of the fuel on which it depends to generate half the electricity used on the island.
Europa Oil & Gas holds an exploration licence on a nearby reservoir that it believes could replace the Corrib with little disruption, as it can be connected to the existing field’s undersea pipeline and infrastructure.
Will Holland, chief executive of the group, said this week that it could begin production as early as 2028. The company has applied to the Department of Environment, Climate and Communications to extend an existing licence that will allow it to get further data from earlier tests done in the area.
Markets in Vienna or Christmas at The Shelbourne? 10 holiday escapes over the festive season
Stealth sackings: why do employers fire staff for minor misdemeanours?
Michael Harding: I went to the cinema to see Small Things Like These. By the time I emerged I had concluded the film was crap
Look inside: 1950s bungalow transformed into modern five-bed home in Greystones for €1.15m
Once this work is complete next year, Europa will be in a position to “farm out” the potential gas prospect – that is, bring in a partner to drill an exploration well and potentially begin developing it.
He said several likely partners were already scrutinising data on the prospect, known as Inishkea and Inishkea West, but argued that explicit Government support would aid Europa in attracting further bidders, boosting its chances of delivering a replacement for Corrib.
“It’s not absolutely necessary but it would make our job a lot easier,” Mr Holland said. He pointed out that since the Oireachtas banned new exploration in 2019, the oil and gas industry has regarded the Republic as an “unfriendly environment”.
Consequently, bigger players tend to ignore the fact that the Government continues to honour existing licences and has recognised the fact that the island will continue to rely on natural gas to generate electricity into the future.
Europa has sought a letter from Simon Coveney, Minister for Enterprise, Trade and Employment, voicing Government support for “upstream development” of existing projects, such as Inishkea.
Mr Holland noted that Mr Coveney argued the Government should state such support when the Europa chief met him, Taoiseach Leo Varadkar and Minister for Environment, Climate and Communications Eamon Ryan at an energy summit in July.
Gas from Inishkea would have the “lowest emissions possible” in comparison with other sources and Mr Holland explained that it could potentially be carbon-free.
According to him, it should be possible to split the carbon and hydrogen that make up Inishkea’s gas, and inject the carbon into Corrib, after that field is no longer used to supply gas.
“It could provide Ireland with a blue hydrogen solution,” Mr Holland said.
At the same time, the addition of Inishkea to Corrib’s infrastructure would extend the useful life of the older reservoir.
Ireland already imports much of its gas from Britain and Norway via a pipeline from Scotland. Once Corrib is no longer viable, the State would depend entirely on imports of the fuel.
Both Mr Varadkar and Mr Ryan have acknowledged that the State will continue to need natural gas in the longer term to guarantee energy security, even after a point at which renewables will generate most of our electricity.
