Dublin Shell to Sea

CORRIB GAS EQUIVALENT TO JUST 5 YEARS' WORTH OF IRISH GAS CONSUMPTION
-- '60% of Irish gas needs' figure reported today is highly misleading --
The gas estimated to be in the Corrib field is equivalent to the amount of gas consumed in Ireland every five or six years.
News media have today been reporting that Corrib "will supply 60% of Ireland's gas needs". This is highly misleading.
What Shell has, in fact, claimed is that "at peak production", Corrib will supply 60% of our gas needs.
The Corrib Gas field contains 1 trillion cubic feet of gas, or 30 billion cubic metres (according to both Shell E&P Ireland and the Irish Government). According to Bord Gais, Ireland consumes 5 billion cubic metres of gas per year. Therefore, if Shells' figure of 1 trillion cubic feet of gas is correct, Corrib's output will equal what we consume in Ireland every six years. As consumption increases, this is likely to be closer to five years by the time the field was in production.
Shell has previously said that Corrib would produce gas for "up to 20 years". If this were the case, then Corrib would provide 25% of Ireland's gas needs over its lifetime.
ENDS
 
 Media advisory
Issued by Dublin Shell to Sea
Monday, February 13th, 2012