As the Deputy is aware, earlier this year I received Government approval to proceed with the development of a State-led strategic gas emergency reserve. The delivery of a temporary gas reserve is critical to Ireland’s energy security as we continue to transition to indigenous, clean renewable energy. Crucially, the strategic gas emergency reserve will also ensure compliance with EU standards and regulations.
The operation of the strategic gas emergency reserve will be underpinned by both policy and legislation that my Department is currently developing and will be progressed as a matter of priority.
The Department has received approval for the Strategic Gas Emergency Reserve (Amendment) Bill to be added to the legislative programme for 2026. It is expected that a Memorandum for Government seeking permission to draft the associated General Scheme for this Bill will be brought to Cabinet next year. It is anticipated the General Scheme will undergo pre-legislative scrutiny following this Government Decision.
The strategic gas emergency reserve will provide the necessary resilience to our energy system in a manner that:
• does not inadvertently increase gas demand by increasing the supply available on the market;
• will avoid the risk to fossil fuel lock-in or stranded fossil fuel asset;
• is designed to be divested when no longer required; and
• is compatible with the Climate Action and Low Carbon Development Act