The Republic needs to discover more oil and gas to ensure future energy supplies and reduce our dependence on imports from less politically stable countries, according to a document launched yesterday by Noel Dempsey, Minister for Communications, Marine and Natural Resources.
The document, published by the Irish Offshore Operators' Association (IOOA), highlighted that natural gas is used to produce 44 per cent of Ireland's electricity and that 80 per cent of the State's gas is imported. Ireland has limited supplies of gas, sourced from Kinsale Head, Ballycotton, Seven Heads, and the Corrib gas field in Co Mayo.
Securing Our Energy Future - Irish Gas For a Better Tomorrow the association's document, pointed to a major shift worldwide from oil to gas as a source of energy amid predictions of rapidly diminishing oil supplies and growing efforts to reduce emissions of greenhouse gases.
"Many see natural gas as the primary energy source for the 21st century," said Fergus Cahill, chairman of the association.
In Ireland, "gas from the Corrib field will significantly boost indigenous gas production but unless new fields are discovered and developed, Ireland will again become highly dependent on foreign gas supplies".
The vulnerability of Ireland and the rest of Europe to any change in Russia's export policy came under the spotlight earlier this year, when Gazprom turned off the taps to Europe in a pricing dispute with Ukraine.
