Security of Energy Supply
An independent report from Goodbody Economic Consultants estimates that the Corrib Gas project will contribute over €3bn to Ireland’s GDP over its lifespan, supplying 60% of the country’s natural gas needs at peak production. The gas field is estimated to yield approximately one trillion cubic feet of natural gas over an operating life of fifteen to twenty years.
The Goodbody Economic Consultants’ report also states that the Corrib Gas project will make a significant contribution to national energy policy by moderating Ireland’s dependence on imported energy. It will also provide stable and economic energy supplies, enhancing the sustainability of existing industry in the BMW region.
The Goodbody report also states that successful completion of the Corrib project will encourage further energy exploration activity off the Irish coast.
Distribution throughout Ireland
The Corrib project has led to a decision to extend the natural gas network to the North West. Already twelve towns are to receive natural gas. This expansion has been enabled by the construction of a Bord Gais pipeline connecting the Corrib gas processing terminal to the main Bord Gais network, a pipeline funded predominantly by the Corrib partners.
Investment in the Community
There are three Social Investment Programmes in Ireland, the Corrib Natural Gas Local Grants Programme, the Corrib Natural Gas Erris Development Fund and Corrib Natural Gas 3rd level Scholarships Programme.
Learn more about our Social Investment Programmes.
