Earlier this week, Ireland’s Taoiseach Leo Varadkar announced that the Irish government is ending offshore oil drilling, and gas would follow, as it is incompatible with a low-carbon future the country has planned.
Varadkar pledges to phase out oil exploration of Ireland’s territorial waters, but he said that for now, natural gas exploration should continue as it is the transition fuel that the country would need for the next decades, meanwhile, alternatives are going to develop and fully deployed.
The oil and gas industry in Ireland including Europa and the Irish Offshore Operators’ Association (IOOA) are generally welcoming the news. However, they are cautious if the statement would affect exploration already underway or licenses already purchased.
IOOA CEO Mandy Johnston is concerned about the administrative and regulatory management processes, and the departmental resources that will be highly affected by the decision.
Entities cush as People Before Profits (PBP) is criticizing the statement, as the government has already issued licenses that will allow exploration up to 2035 and maybe beyond. Furthermore, PBP said that Dublin has shown intentions to support fracking overseas, which misses the point of environment protection.
Ireland’s indigenous oil and gas industry could create over 1,500 jobs and deliver tax revenue of almost EUR11 billion (USD12 billion) for the country.
