169. Deputy Michael Fitzmaurice asked the Minister for Climate, Energy and the Environment with Ireland relying on imports for over 80% of its energy needs in 2026, the way in which he considers blocking a fully funded development of the 300 million barrel Barryroe field, which could provide domestic energy security and reduce emissions associated with importing fuel, serve the national interest, particularly now facing a 100-million-dollar compensation claim from a company (details supplied); and if he will make a statement on the matter. [38544/26]

As outlined in the 2022 Policy Statement on Petroleum Exploration and Production, my Department no longer accepts new applications for petroleum authorisations for the exploration and extraction of natural gas or oil. This commitment was made effective immediately upon the previous Government taking office in June 2020, and the Climate Action and Low Carbon Development (Amendment) Act 2021 placed this commitment on a statutory basis. Holders of existing authorisations are not affected by these changes and may apply to progress their authorisations through the usual licensing stages.

Pursuant to the provisions of the Climate Action and Low Carbon Development (Amendment) Act 2021, no new petroleum authorisations can be granted over the “Barryroe” structure, as there is no existing petroleum authorisation in place.