Oil & Gas UK to Discuss the Role of Natural Gas

The role of natural gas in the UK’s energy mix is the focus of Oil & Gas UK’s forthcoming breakfast briefing. The event, which is sponsored by Herbert Smith and The Royal Bank of Scotland, is being held on 12 July in London.

Mike Tholen, Oil & Gas UK’s economics and commercial director, said: “The UK’s energy strategy is under intense pressure to enable renewal and replacement of infrastructure in an affordable manner whilst delivering near term carbon reduction targets. Investors are faced with the need to make huge investments at a time when decisions are hindered by financing constraints due to the economic downturn and a lack of clarity around the long-term commercial attractiveness of some power sources.

“Natural gas is cost effective, will cut emissions sharply and the technology is proven. Its use rose to satisfy some 40 per cent of electricity demand last year from a standing start in the early 1990s. In determining the path towards a lower-carbon future and in advance of the publication of the government’s gas generation strategy this Autumn, the continuing important role of gas needs to be seriously considered given the various cost, technical and reliability challenges of other power sources.”

Delegates will first hear from David Cox, managing director of The Gas Forum and director of London Energy Consulting, who will offer his insight into the energy challenge. He will then be joined by Mike Tholen who will consider the implications for the offshore oil and gas industry.

Oil & Gas UK is the leading representative organisation for the UK offshore oil and gas industry. Its members, who number over 250, are companies licensed by the Government to explore for and produce oil and gas in UK waters and those who form any part of the industry’s supply chain.

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Press Release, June 28, 2012