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MEP Kelly – Time for Ireland to Capitalise on Global Gas Markets

Published: Tue, 01 December 2015

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Seán Kelly MEP (Ireland South) has welcomed a reiteration from the European Commission today on the importance of an updated list of key strategic energy projects in an EU Energy Strategy that includes Co Kerry project, Shannon LNG.

Speaking in the European Parliament in Brussels today (Tuesday), the Fine Gael MEP highlighted the important recent developments in the fast-growing global gas market and called for Ireland to make the most of the opportunities it presents.

“Global gas markets are developing steadily and by 2020 the volume of global LNG (Liquefied Natural Gas) trade will rise by nearly 50%, with huge quantities of gas from the US and Australia becoming available. This brings increased competition and liquidity in the global market and, ultimately, lower prices for the consumer.”

Mr. Kelly, who in early 2016 will lead his political group in formulating the EU’s strategy towards delivering a ‘new deal’ for the European energy consumer added:

“Ireland cannot afford to be left behind in this – our consumers and industries demand lower energy prices. The Shannon LNG terminal can help deliver this, has been endorsed by the European Commission as being a vital part of European energy strategy, and, crucially, is ready to be built today”

“We need to be more proactive on this at national level. It is time we remove all remaining obstacles and ensure that the Shannon LNG terminal is built before we miss out on this massive opportunity.”

The Kerry man’s words followed an address in the European Parliament’s ITRE Committee by Director General for Energy in the European Commission, Dominique Ristori, who emphasised the importance of the updated list of EU Projects of Common Interest announced in late November.

“I welcome Mr. Ristori’s comments today on the potential of the rapidly growing global natural gas markets for the EU energy system. It is extremely encouraging to hear his enthusiasm for LNG and the intention of the Commission to have the key strategic LNG projects implemented without delay – one of these, of course, is the Shannon LNG Terminal.

“The EU has been setting out its plans to make the most of global gas markets since Commissioner for Energy Arias Cañete took office last year. It is up to Ireland now to act and ensure that it is part of these plans”, he concluded.

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