The Government looks set to acquire a new emergency gas storage vessel as part of its strategy to ensure energy security, according to Minister for the Environment Eamon Ryan.

Gas Networks Ireland has been asked to review and recommend by mid-2024 the type of system to be installed.

The minister said that it would be necessary to safeguard gas supplies against potential disruptions, citing the bombing of the Nord Stream Pipeline in September, but acknowledge that it would not be cheap.

Transition

Natural gas will continue to be used as the economy transitions to a carbon-neutral energy system before being replaced by cleaner biomethane and hydrogen, the reports states.

Minister Ryan's remarks came as he introduced the Government's new, first-of-its-kind Energy Security in Ireland to 2030 report.

The report outlines key recommendations, including Ireland's shift towards becoming a net energy exporter instead of an importer.

This transformation will be driven by an increased focus on renewable energy sources, including the development of offshore wind farms.