UK Natural Gas in Rapid Decline

July 4 2004 – Vol.9 No.15

UK NATURAL GAS IN RAPID DECLINE.

According to Reuters news services, Britain is running out of natural gas faster than expected. Gas from North Sea reserves is starting to dwindle at a quickening pace and the UK is expected to become a net importer of natural gas within the next couple of years.

National Grid Transco (NGT), a UK pipeline operator, said that the forecast maximum daily production for last winter was 410 million cubic meters (mcm), but the actual highest daily production reached only 338 mcm in the period. NGT is expecting a maximum daily production of 364 mcm for the coming winter of 2004 - 2005.

By 2010 Britain is expected to import 50 percent of its natural gas, by 2020, 70 percent. Subsea pipelines from Netherlands and Norway are being planned as are terminals for liquefied natural gas (LNG).