Dáil Éireann Debate, Thursday - 15 June 2023
128. Deputy Neasa Hourigan asked the Minister for the Environment, Climate and Communications if he will clarify whether the Energy Security Review must include liability and insurance cover in the consideration of new energy projects; if he will comment on the contraction in the market of insurers willing to extend cover to the construction of new LNG terminals; and if he will make a statement on the matter. [28431/23]
View answerMy Department is currently finalising its review of security of energy supply of Ireland’s electricity and natural gas systems. The Review is focused on the period to 2030, but in the context of ensuring a sustainable transition up to 2050. The Government’s policy objectives are to ensure energy is affordable, sustainable and secure, as well as in line with Ireland’s climate targets and statutory carbon budgets. Underpinned by these objectives, the review is considering the risks to both natural gas and electricity supplies, and a range of mitigation measures, including the need for additional capacity of indigenous renewable energy but also energy imports, energy storage, fuel diversification, demand side response and renewable gases (such as hydrogen). The completion of the review is a key priority. Once completed, I will bring my recommendations to Government for consideration.
The responsibility for securing insurance cover on energy projects is a matter for individual project developers.
