At the end of 2019, in a key policy paper, Ireland’s Minister of State for Natural Resources, Community Affairs and Digital Development gave recognition that national gas resources will be needed for Ireland’s energy security. It was also acknowledged that these national resources would have a lower carbon impact than the imported sources upon which it is heavily reliant.
Key points included:
- All future rounds will only be for gas, and not oil.
- In the context of natural gas being the lowest emitting fossil fuel, “a commitment to future cessation of peat-fired and coal-fired electricity generation”
- “natural gas is a key part of the energy mix that will underpin our ability to implement an ambitious transition in an efficient and secure manner”
- In different electricity generation scenarios for Ireland in 2040, “gas complements an electricity mix largely made up of wind power”
- It recognises emissions over the gas life-cycle – energy for transport (compression), fugitive emissions (leakage/shrinkage) and energy in differing production practices.
- “The available evidence demonstrates that natural gas will be a core part of our energy mix for some time to come.”
We believe that Gas2Wire could be key to developing Ireland’s national resources sustainably and responsibly. By using gas at its source, emissions over the gas life cycle can be significantly reduced and even eliminated once carbon capture technologies mature. The associated power infrastructure installed in the offshore environment as a result would support the expansion of renewable energy sources, unlike conventional gas pipelines.
Gas2Wire is perhaps unique in this industry in that it can provide a longer term, sustainable energy solution, as opposed to an often-short-sighted approach typically taken in the pursuit of maximising economic gains. For instance, rather than ‘over-developing’ a field to achieve maximum flow rates and export the surplus national resources, reserves could be kept in the ground and produced ‘lower-for-longer’ with Gas2Wire, whilst still delivering considerable returns to stakeholders on their investments.