121. Deputy Réada Cronin asked the Minister for Climate, Energy and the Environment if his Department has conducted an updated risk assessment on Ireland’s exposure to geopolitical supply disruptions, given our high reliance on fossil fuels as a source of power; and if he will make a statement on the matter. [54236/26]

My Department is responsible for several risks under the current National Risk Assessment (NRA) including disruption to oil supplies and disruption to gas and electricity supplies.

My Department is engaging with the Office of Emergency Planning (OEP) and the NRA Working Group to review the next iteration of the NRA. Recent geopolitical developments have reinforced the important of these risks and highlighted Ireland's exposure to external energy supply shocks.

The conflict in the Middle East has had a significant impact on global oil markets, with supply disruptions contributing to heightened price volatility and increased uncertainty across international energy markets.

In response, the Department is proactively monitoring supply though regular engagement with the EU Commission and the IEA, in line with the Oil Emergency Response Plan (OERP). This plan provides the framework for Ireland’s response and substantial legal powers to secure and protect supply if necessary. The OERP is reviewed regularly to ensure that it evolves with the changing geopolitical environment.

Additionally, my Department has convened the Oil Security of Supply Group which meets regularly and consists of relevant Government Departments and agencies, in addition to Fuels for Ireland and oil companies. At the meeting on 2 July industry confirmed that they had secured supply for July and into August. Ireland’s fuel supply chains remain robust and reliable.

Scenario analysis of global energy supply is taking place at both domestic and EU level covering gas, oil and broader supply chain impacts.

Furthermore, the National Oil Reserves Agency (NORA) has operational responsibility for the day-to-day management of the State’s Strategic Oil Reserve. Following the release of stocks under the International Energy Agency Co-Ordinated Action, NORA currently holds at least 80 days in the event of full disruption (greater in the event of partial disruption).

The current assessment of the geopolitical situation is that there is no imminent risk to security of gas supply in Ireland.