Ireland says it can manage without Russian gas: press
Ireland's gas system operator has said domestic supplies and UK imports will cover consumption this summer, in the event of disruptions to Russian supplies, Irish Examiner reported June 2.
Gas Networks Ireland expects continued gas flows from Corrib field in the Slyne Basin. It also has access to UK resources through a series of subsea pipelines to Great Britain and the Isle of Man. The UK interconnector accounts for roughly 70% of Irish gas consumption.
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Maurice Power, future networks manager at Gas Networks Ireland, said Irish natural gas demand was expected to fall in the current summer season year/year, due to higher wholesale gas prices and reduced heating demand. However gas-fired power plants will likely ramp up their output to offset diminishing wind farm production, Power added. Last year, natural gas met 69% of Ireland's daily electricity needs.
"Based on the assessment of all supply sources to Ireland and anticipated demand levels, it is not envisaged that there will be a disruption to Ireland's gas supply during the summer months," he said.
Vermilion Energy operates Corrib with 20% interest, with the remaining equity stake owned by Canada Pension Plan Investment Board. Shell developed the project, which launched in 2015, but sold its stake to the pension board three years later. The UK major anticipated peak production of around 260mn ft3/day, however the field has since entered decline.