The Irish tycoon proposes a greater gas storage expansion in the United Kingdom

An Irish energy magnate has revealed plans to build a new gas storage site in the Irish sea that would increase the capacity of the United Kingdom by more than 50 percent.

DCarbonx by Tony O’Reilly Jr, backed by the SNAM giant gas infrastructure, wants to rebuild an old gas site on the Barrow-In-Furness coast as part of a megaproject of £ 830 million that claims to address the “growing national security risk.”

O’Reilly, who is the son of the former head of Heinz of the same name, said the project would help isolate the United Kingdom network of the intermittency of renewable energies and sudden fluctuations in natural gas prices.

“Without the domestic gas storage, the United Kingdom is exposed to the volatility of the world gas market, especially during the winter,” he said. “The question is not whether we need more storage, it is whether we take it seriously.”

The announcement precedes an expected government consultation on the ‘resilience of the gas system’ of Great Britain, which will seek to examine the storage requirements of the country with natural gas that probably remains an integral part of the combination of energy of the United Kingdom.

It provided 29 percent of the United Kingdom’s energy demand in 2024, a slight reduction of its recent 38 percent in 2022.

AM city Understand that the proposal will seek opinions on whether the government should help support gas storage projects, which tend to incur large maintenance costs.

But according to DCarbonx, Great Britain currently can only store 12 days of the average winter gas demand, the lowest gas storage capacity of any G7 economy despite our huge dependence on fuel. The average in other important European countries is 90 days.

The facilities proposed by the North Sea of ​​the firm, which was administered by the British gas as an extraction site before being dismantled in 2018, would be able to store 1.4 billion cubic meters of gas, approximately enough to meet six additional days of average demand, he said.

O’Reilly added: “The United Kingdom not only has a market gap, but has a strategic risk.

“The gas is no longer just a merchandise; it is the key transition fuel and an insurance policy for stable growth.”

DCarbonx, who specializes in gas and hydrogen energy storage, said the site could be operational within five years, subject to regulatory approval and appetite of investors.

The proposal has also increased a new competence attack between the small British-Ilandic group of O’Reilly, and the owner of British central gasoline, which operates the rough storage site against the North Sea coast.

The site, which the energy supplier in London recommended following the energy shock 2022, provides most gas storage in the United Kingdom.

But Centrica hopes that its rough site will have an adjusted operational loss of between £ 50 million and £ 100 million this year, a figure that Chief Chris O’Shea has marked unsustainable without government support.

O’Reilly told The Times that DCarbonx’s proposal was a “totally different economic proposal” to the installation of centric-administered.

A spokesman for the Department of Energy Security and Net Zero, who would have to approve the proposal, said: “Our clean energy mission is about improving our long -term national energy security by replacing our dependence on fossil fuel markets with clean and homemade energy that we control.

“Our varied sources of gas supply mean that the United Kingdom depends less on gas storage than other European countries, but we remain open to discuss proposals in gas storage sites, provided that it provides value for money for taxpayers.”

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