Uchenna Izundu
International Editor
LONDON, Jan. 26-- Ireland will invest $1.6 billion to develop strategic energy infrastructure, Ireland's Energy Minister Noel Dempsey said Jan. 26.
Supply security, competitive energy prices, and environmental sustainability are all key priorities under the government's plan.
Ireland wants to improve its gas interconnection with Scotland, develop a strategic oil storage project to maximize oil stocks, and construct a gas store to help ease supply disruptions.
"Because of the scale, strategic importance, and immediacy of Ireland's energy needs, consideration will be given over the period of the plan to the possibility of an Exchequer contribution to the cost of such investment," the Irish government said in its National Development Plan 2007-13.
From 2005-10, energy demand in Ireland is projected to increase by 1.6%/year, gas demand by 6.5%/year, and electricity by 3.1%/year.
Ireland will commit $350 million to sustainable energy sources and $193.4 million to energy research.
State energy companies will receive $9.1 billion from the government over the next 6 years. Bord Gais Eireann, the state-owned gas company, will invest $2.6 billion on improving gas transmission and distribution networks, increasing their sizes, and constructing a 400 Mw, gas-fired electric power station at Whitegate in Cork.
Ireland also will spend $42.8 million on geoscience research.
Contact Uchenna Izundu at [email protected].
