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Ferris says gas crisis underlines case for Corrib

22 January, 2009 - by Martin Ferris TD

The Sinn Féin Spokesperson on Energy Martin Ferris TD has said that the recent crisis over gas supplies from Russia underlines the need for a resolution to be found to the situation regarding the Corrib gas field. He was responding to comments by Minister Micheal Martin who referred to the 'extraordinary' delay in bringing the gas ashore especially at a time when so much doubt hangs over energy supplies globally.

Deputy Ferris said, "There is no doubt but that bringing the Corrib gas on shore would represent a major boost to the Irish economy. However, the Minister neglects a number of issues regarding why that has not happened so far.

"Firstly, there is the fact that the current revenue structure and the licensing terms mean that not only would the state gain very little in terms of tax but that there is no guarantee even that the gas would be used primarily to meet energy requirements in this country. Almost uniquely in international terms this state has allowed the companies concerned terms which mean that there is little or no benefit to the country where the gas originates. Until that is addressed by implementing a proper taxation regime and ensuring that the gas is used to meet domestic demand and within a proper pricing structure the unfortunate fact is that little will be gained when it does come on stream." ENDS

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