IRELAND is to invest $1.6bn to develop strategic energy infrastructure, the country's Energy Minister Noel Dempsey said recently. Supply security, competitive energy prices, and environmental sustainability are all key priorities under the government's current plans, which include improving its gas interconnection with Scotland, developing a strategic oil storage project to maximize oil stocks, and constructing a gas storage facility to help ease supply disruptions. "Because of the scale, strategic importance, and immediacy of Ireland's energy needs, consideration will be given over the period of the plan to the possibility of an Exchequer contribution to the cost of such investment," the Irish government said in its National Development Plan 2007-13. From 2005-10, energy demand in Ireland is projected to increase by 1.6%/yr, gas demand by 6.5%/yr, and electricity by 3.1%/yr. Ireland will commit $350 million to sustainable energy sources, and $193.4 million to energy research. State energy companies will receive $9.1bn from the government over the next six years. Bord Gais Eireann, the state-owned gas company, will invest $2.6bn on improving gas transmission and distribution networks, increasing their sizes, and constructing a 400-MW, gas-fired electric power station at Whitegate in Cork. Ireland also will spend $42.8 million on geoscience research.
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