Although there is no significant risk to Ireland in terms of availability of oil, the country should take steps to reduce its dependence on imports, Minister for Energy Eamon Ryan said today.
The Minister was speaking at the launch of a report into the security of Ireland's access to commercial oil supplies.
The report was commissioned by the Department of Communications, Energy and Natural Resources and was carried out by international oil consultants Purvin and Gertz, and Irish energy consultants Byrne O'Cleirigh.
The study found that that in "normal" circumstances, there is no risk in terms of availability of commercial oil, or the capability of Ireland's oil industry to procure it.
However, it suggests that measures could be taken to could enhance physical access and distribution of oil on the island of Ireland and help safeguard against internal disruptions to supply.
"Ireland relies on oil for almost 60 per cent of our energy needs, all of which is imported. We must reduce this level of dependency by developing our indigenous energy resources and reducing demand," said Mr Ryan.
"It is also important that we identify any weaknesses in our oil supply network. This will ensure that we are better-placed to deal with any future disruptions," he added.
The report recommends that the country should increase the proportion of its 90 days' strategic stocks which are held in Ireland to ensure that sufficient stocks are available to deal with any disruptions to port infrastructure.
It also states that any redevelopment of Dublin Port should recognise the importance of maintaining capacity for commercial oil importation and storage and calls for a development path to be established for Whitegate refinery in Cork, which imports and refines 25 per cent of crude oil coming into Ireland.
Other recommendations outlined in the report include the development of a commercial distribution and strategic oil facility outside of the capital, with pipeline connection to Dublin Port and a possible pipeline from the refinery at Whitegate.
"This report underlines the need for an efficient supply and storage network and its findings must be carefully examined," said Mr Ryan.
"The overarching message is clear. Last year €6 billion was spent on imported energy. This puts us at the mercy of international factors. We must reduce our demand, seek alternatives and develop our own natural resources. Not only will this provide better energy security, but crucially it will reduce our energy bill," the Minister added.
