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UK Gas Production Is Declining Faster Than Expected, Lobby Warns
Britain’s natural gas output is declining faster than expected and leading to greater reliance on imports, according to an industry group seeking government relief to spur investment. Production fell about 13% this year through August on an annual basis, and a similar rate is possible for all of 2024, said Ross Dornan, market intelligence manager at Offshore Energies UK. That compares with a 10% decline forecast earlier this year for the UK’s aging North Sea basin. “We should be a little bit worried about output from the basin and faster decline rates,” he said in an interview. “There is not a huge amount ... (full story)
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- Posted: Oct 13, 2024 5:33pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 110
