Business Irish

Thursday 22 August 2019

New Irish gas find would help cut coal power, claims BP's Looney

BP Upstream division CEO Bernard Looney
BP Upstream division CEO Bernard Looney

John Reynolds

The Irish boss of oil and gas giant BP's exploration, development and production division, Kerry native Bernard Looney has underlined the role that offshore exploration for gas deposits in Irish waters could play in reducing global greenhouse gas emissions.

He spoke on the matter after climate action activists expressed outrage at the Government's halting of the Climate Emergency Measures Bill last week. The Bill would have prevented any future exploration licences for oil and gas being granted here.

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If passed, it would have made Ireland only the fifth country in the world to ban fossil fuel exploration.

"Any new gas fields that are found offshore in Irish waters can offset the CO2 emissions from a coal power station somewhere in the world," Looney said.

"Global CO2 emissions need to be cut quickly, but responsibly and sustainably. We believe the move from coal to gas power is one of the most effective ways of helping the world meet its emission reduction goals."

Climate Action Minister Richard Bruton claimed last week that the Bill would pose a significant financial risk to the State, and added that new oil and gas finds are needed to reduce dependence on imported fossil fuels.

Sunday Indo Business

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