Mar 6, 2025
The Irish government has given the green light for the establishment of a strategic gas emergency reserve led by the State.
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Minister Darragh O'Brien has received governmental approval to move forward with the creation of a state-led strategic gas emergency reserve. Establishing a temporary gas reserve is vital for Ireland’s energy security as we continue our shift towards local, clean renewable energy. Importantly, the strategic gas emergency reserve will also ensure adherence to EU standards and regulations.
The emergency reserve will take the form of a Floating Storage and Regasification Unit (FSRU), which will be owned on behalf of the State by Gas Networks Ireland (GNI), the system operator. This approach mirrors that used for oil security by the National Oil Reserves Agency.
In determining this as the best approach, the department has built on a comprehensive review of the security of Ireland’s gas and electricity systems, which was sanctioned by the government in the 'Energy Security in Ireland to 2030' plan issued in November 2023. This plan outlines Ireland's goal to revamp its energy system and bolster climate initiatives. It comprises 28 actions, focusing on sustainability, affordability, and security. Under Action 17 of this plan, GNI was charged with assessing and proposing the best method to implement the strategic gas emergency reserve.
The establishment of a state-led reserve in the form of an FSRU aligns with Ireland's climate legislation. It serves as a transitional measure aimed at mitigating the risk of stranded fossil fuel assets, meant exclusively for emergencies, and does not promote an increase in gas demand.
Minister Darragh O'Brien stated: “The endorsement of this strategy signifies the culmination of extensive research, analysis, and dialogue regarding Ireland's energy security needs. As a small island nation dependent on interconnections, our vulnerability to potential gas supply disruptions poses a considerable risk to our energy security and the steady supply for businesses and households throughout Ireland. This emergency reserve will offer an alternative gas source at a suitable scale should Ireland face such an interruption.
“We maintain that long-term energy security is best achieved through significant advancements in local clean, renewable energy; enhancements in energy efficiency; electrification of heating and transport; and increased electrical interconnections with our European neighbors. This strategy will reduce long-term fossil energy imports. In the meantime, the development of a state-led strategic reserve will ensure the ongoing gas supply as a crucial transitional energy security measure.
The emergency reserve will take the form of a Floating Storage and Regasification Unit (FSRU), which will be owned on behalf of the State by Gas Networks Ireland (GNI), the system operator. This approach mirrors that used for oil security by the National Oil Reserves Agency.
In determining this as the best approach, the department has built on a comprehensive review of the security of Ireland’s gas and electricity systems, which was sanctioned by the government in the 'Energy Security in Ireland to 2030' plan issued in November 2023. This plan outlines Ireland's goal to revamp its energy system and bolster climate initiatives. It comprises 28 actions, focusing on sustainability, affordability, and security. Under Action 17 of this plan, GNI was charged with assessing and proposing the best method to implement the strategic gas emergency reserve.
The establishment of a state-led reserve in the form of an FSRU aligns with Ireland's climate legislation. It serves as a transitional measure aimed at mitigating the risk of stranded fossil fuel assets, meant exclusively for emergencies, and does not promote an increase in gas demand.
Minister Darragh O'Brien stated: “The endorsement of this strategy signifies the culmination of extensive research, analysis, and dialogue regarding Ireland's energy security needs. As a small island nation dependent on interconnections, our vulnerability to potential gas supply disruptions poses a considerable risk to our energy security and the steady supply for businesses and households throughout Ireland. This emergency reserve will offer an alternative gas source at a suitable scale should Ireland face such an interruption.
“We maintain that long-term energy security is best achieved through significant advancements in local clean, renewable energy; enhancements in energy efficiency; electrification of heating and transport; and increased electrical interconnections with our European neighbors. This strategy will reduce long-term fossil energy imports. In the meantime, the development of a state-led strategic reserve will ensure the ongoing gas supply as a crucial transitional energy security measure.