I propose to take Questions Nos. 14 and 16 together.
On 4 March 2025, the Government approved the development of a strategic gas emergency reserve, in the form of a Floating Storage and Regasification Unit, for use in the event of an interruption to our gas supplies. The reserve will be State-led and owned and operated by Gas Networks Ireland on behalf of the Government, acting in its capacity as a Transmission System Operator.
The delivery of a temporary strategic gas emergency reserve is critical to Ireland’s energy security as we continue to transition to indigenous, clean renewable energy. Crucially, this reserve will allow us to meet our energy security obligations in line with the Climate Action and Low Carbon Development Act 2021.
A key requirement for the reserve is that it does not inadvertently increase gas demand by increasing the supply available on the market. The operation of the reserve will be underpinned by robust policy and legislation to give effect to the non-commercial and strategic nature of the facility. Legal advice, including with respect to EU law, is informing the development of this policy and legislation.