Norway will be able to sustain gas production at last year’s elevated level until at least 2026 thanks to 300 billion Norwegian kroner ($30 billion) of investment in new offshore fields.
UK Energy Secretary Grant Shapps said he’s sure the UK will have enough natural gas this winter after favorable temperatures and increased storage capacity lowered the prospects of a shortage in coming months.
Gas companies have stepped up to the plate in recent months to help the UK cut its dependence on imports.
Ancala Midstream, the operator of major North Sea infrastructure, is celebrating three decades of supplying gas to UK homes.
The European Union reached an agreement with Norway to source more natural gas from the Nordic nation as the bloc tries to lower surging prices and boost security of supplies after Russia, its biggest provider, cut flows to almost half of member states.
Equinor and Centrica have signed an agreement which will see the Norwegian company deliver an additional 1 billion cubic metres (bcm) of gas supplies to the UK in time for this winter.
A £400million natural gas storage site is to be built deep beneath a lough in Northern Ireland.
The leak on the Elgin platform could lead to the loss of enough gas to heat all the homes in Aberdeen for nearly a decade, new figures have revealed.
Oil and gas expert Professor Alex Kemp said the Elgin platform leak was unlikely to have much impact on household bills.
The global economic crisis has developed with such rapidity and intensity that some of its likely consequences have virtually escaped comment.