Ireland’s proposed new gas storage ship would cost over €300m to buy new and involve several million in annual maintenance costs – so the State is likely to lease an existing vessel. Energy Minister Eamon Ryan – whose grandfather was a ship’s captain – is persuaded that floating storage is better than a land-based terminal. It would be resupplied by other liquefied natural gas (LNG) vessels, so that it would continuously hold about a fortnight’s worth of gas at full consumption. “In terms of ownership, we need to get the lowest price for the Irish consumer,” Mr Ryan said. “It [the gas storage ship] will be there for those events, unlikely as they are.

Source: Irish Independent November 17, 2023 03:08 UTC