Ireland is a small importing energy market, which currently imports 62% of gas, 100% of oil and is reliant on gas to generate approximately 40% of electricity. Ireland has one commercial gas storage facility at Kinsale, Co. Cork and two production facilities at Kinsale, Co. Cork and Corrib, Co. Mayo. The economy depends on secure, reliable and safe supplies of electricity, gas and oil.
While some energy supply disruptions are out of our control, it is critical that action is taken in those areas in which Ireland can exert control, for example,
- Maintain a modern electricity and gas networks,
- Holding emergency oil reserves on the island,
- Bringing ashore indigenous gas,
- Encouraging commercial investment in gas storage and Liquefied Natural Gas,
- Developing indigenous renewable electricity generation.