Gas market insight

Delegates to a business breakfast hosted by Oil and Gas UK will be given an insight to the future for the European gas market next week.

Gas industry analyst Patrick Heren will examine prospects for future supplies for the UK and the rest of Europe as North Sea sources are depleted and look at factors which will affect market prices in future.

Oil and Gas UK chief executive Malcolm Webb says the UK gas market is continuing to evolve while production across Europe and world markets is also changing.

“While UK gas production satisfied three quarters of our demand in 2007, indigenous production is now in decline but we must remember that 40% of our gas reserves still remain to be extracted,” said Webb. “Alongside maximising our domestic gas production, the UK and the rest of Europe will need to draw gas from increasingly diverse and more distant sources.”

The business breakfast, sponsored by Herbert Smith and The Royal Bank of Scotland, takes place on 9 September at Exchange House, Primrose Street, London