Sinn Féin leader Mary Lou McDonald has caused a major surge in speculation as she refused to rule out a run for President.

Mary Lou was speaking to the press on Monday morning, July 7, and was quizzed on the approaching election.

Although many had expected the 56-year-old to swat away the possibility, the Sinn Féin leader was instead coy and did not rule herself out.

Fine Gael will become the first major party to open its presidential nomination process today, with Seán Kelly and Mairead McGuinness both expected to seek nominations.

The nomination process for a candidate within Fine Gael will remain open until 4 pm next Tuesday, July 15.

To be considered for nomination, a candidate needs the backing of 20 members of the parliamentary party, 25 Fine Gael councillors, and five members of the executive council.

Among those expected to seek candidacy is former European Parliament Vice President Ms. McGuinness. A Sunday Independent/Ireland Thinks poll yesterday had her as the favourite candidate to become Ireland’s next president.

The former MEP also sought a nomination in 2011 with Fine Gael but lost to former MEP and TD Gay Mitchell. This year, Ms McGuinness has already received support outside of the party, with Ryanair boss Michael O’Leary saying he would be ‘very proud’ to have her as Ireland’s next president.

Mairead McGuinness. (RollingNews.ie)

Mairead McGuinness. (RollingNews.ie)

MEP Seán Kelly, a former GAA president, is also believed to be seeking a nomination.

Late last month, he said he was considering a presidential bid, saying he "could do a lot" in the role. He added that he had been approached by a number of Fine Gael colleagues and was "thinking about it."

Sean Kelly. (RollingNews.ie)

Sean Kelly. (RollingNews.ie)

Both Mr. Kelly and Ms. McGuinness are believed to be the frontrunners to become Fine Gael’s candidate, although Ms. McGuinness is thought to be favoured by the party’s hierarchy.

If more than one secures the requisite backing for the Fine Gael candidacy, the nomination process will be held as an electoral competition within the party. The party has said in the event of a competition, it will host "a number of hustings" later this month.

The nomination will then be decided by an electoral college voting system. This will see members’ votes accounting for 30% of the overall vote, councillors’ votes accounting for 15%, and a vote in the party accounting for 55%.

The election is likely to take place sometime between September 13 and November 10. Fianna Fáil members remain coy on whether their party will contest the election, with an announcement not expected until September.

On Saturday, Extra.ie reported that Independent TD for Galway West, Catherine Connolly, has been canvassing Oireachtas members for their support in a bid to become the left’s "unity candidate."

Catherine Connolly. (RollingNews.ie)

Catherine Connolly. (RollingNews.ie)

Previously, Sinn Féin were mooted to put forward Michelle O’Neill, the party’s leader in the North, as a candidate but, given Mary Lou’s conference on Monday, that speculation has been thrown into major doubt.

Michelle O'Neill. (Getty Images)

Michelle O'Neill. (Getty Images)

Ivana Bacik’s Labour Party was said to be courting former RTÉ star Joe Duffy following his recent retirement, but he ruled himself out on Saturday.

Joe Duffy. (RollingNews.ie)

Joe Duffy. (RollingNews.ie)

Elsewhere, former SDLP leader Colum Eastwood has expressed an interest, although Taoiseach Micheál Martin has poured cold water on the idea of him becoming the Fianna Fáil candidate.

Colum Eastwood. (RollingNews.ie)

Colum Eastwood. (RollingNews.ie)

*This article was originally published on Extra.ie.