Natural gas from a potential Irish reservoir close to the existing Corrib field will produce less emissions than imports, says a new report.
Europa Oil & Gas has identified two prospects off the Republic’s west coast that could between them amount to twice the amount of natural gas that the Corrib field contained.
A new report shows that carbon dioxide emissions resulting from gas produced in any potential reservoir in Europa’s exploration licence area will be far lower than than those from imports.
Currently the Republic imports 80 per cent of its natural gas, needed to generate electricity, from Norway and the North Sea through a pipeline running from Scotland.
According to the report from consultants Sustain:able, Europa’s gas is likely to produce 2.8kg of carbon for every barrel of oil equivalent (boe)- the unit in which the fuel is measured – against 36kg for imports and 5kg for Corrib.
Liquefied natural gas (LNG) imports from the US would result in 145kg/boe, more than 50 times higher than those produced by the Irish fuel.
Brian O’Cathain, Europa’s non-executive chairman and a well-known figure in Irish exploration, explained that Irish gas results in lower emissions as it does not have to be imported.
“It’s simply because it’s on our doorstep, it does not have to travel very far,” he said. Mr O’Cathain pointed out that pumping gas over long distances requires fuel, which produces emissions, so adding to the carbon it emits.
Freezing gas for LNG, then heating it again to reverse the process, results in even more emissions, he added, while pointing out that the ships that transport it probably run on diesel.
If Europa finds viable quantities of gas in its Inishkea prospect, it could be tied into the nearby Corrib infrastructure, which Mr O’Cathain pointed is one of Europe’s lowest carbon terminals. This in turn would help keep down emissions from a find in the licence area.
Europa renewed its licence there and is seeking a partner to back drilling there. If it is successful, the London-listed company will know in 2025 if the prospects are viable, according to its chairman.
Mr O’Cathain cautioned that finding a partner would depend on the Government signalling that it is prepared to support exploration licences in Irish waters up to development and production.
The Republic will continue to need natural gas to generate electricity, even as it shifts to using more renewables, but now depends heavily on imports.
Approving plans for new gas-fired electricity plants last year, Eamon Ryan, Minister for Environment, acknowledged that these facilities were crucial to the Republic’s “energy transition”.
In a statement on Tuesday, Europa said it had published the report on its website. Sustain:able, which focuses on aiding companies in identifying and mitigating their climate impact, researched and produced the report independently.
