The rare red alert is the highest available to forecasters and would see people urged to stay indoors.
If issued, it is likely to cover from the evening of Wednesday 1 to Thursday 2 November, when winds could reach Storm Force Ten or up to 90 miles per hour.
Senior meteorologist Matt Winter explained: "We've also got a large storm surge and some very large, powerful waves as well so the high tide around 8:40am on Thursday morning is of concern for us.has already cancelled all of its high-speed sailings between Wednesday 1 November and Tuesday 7 November, with further disruption likely.
Members of the pan-island "Tactical Coordinating Group" - the body responsible for coordinating an emergency response - have been meeting to assess the potential risks. Emergency Planning Officer Kevin Murphy said: "This is an active situation, and we are closely monitoring the evolving weather patterns and will be releasing further instructions and advice through our official channels in due course.
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