Senior Economist: Ireland Have To Investigate Natural Gas Alternatives To Offset Rising Prices Due To Ukraine Conflict

Ireland will have to investigate natural gas alternatives to offset rising prices due to the Ukraine conflict, according to a senior economist.

Russian gas is not imported directly by Ireland but sanctions directed at the Kremlin will inflate prices.

Irish consumers use gas from both Norway and the North Sea which is piped in from Scotland.

Economist Colm McCarthy, says we are going to need to start looking at liquid natural gas:

“We’re going to have to think again about liquefied natural gas. The world market in gas is not as integrated as the world market in oil because it’s too expensive to transport, but the liquefied trade, the seaborne trade is increasingly important. And we won’t get any thanks from our European colleagues if we end up as one of the very few countries that doesn’t have an LNG terminal.”


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