Statoil demands clarity on future of natural gas in UK
8 Jun 2011
Oslo – Lack of political will could limit the role of natural gas in securing the UK’s energy supplies and cutting CO2 emissions, Norwegian energy group Statoil has warned.
Political will is needed to realise the full potential and attract the right investments, believes Statoil, which has started calling for natural gas to be a key component in the UK’s long-term future energy mix.
Statoil’s campaign comes ahead of expected reforms of the UK energy market in the form of the Electricity Market Reform (EMR). These reforms will set the regulatory framework for different forms of energy used to generate electricity.
The reforms are linked to the UK’s targets to reduce its greenhouse gas emissions by at least 80% by 2050, relative to 1990 levels.
“We are raising our voice in the UK to underline that natural gas is not ‘just another fossil fuel’. It is a long term energy source – fit to deliver cost-efficient CO2-reductions and secure energy supplies<” said said Rune Bjørnson, Statoil’s senior vice president for natural gas.
Statoil wants to see a regulatory framework that realises the full potential of natural gas, in delivering on the UK’s 2050 climate ambitions in a secure and affordable manner
“This should be recognized in the framework for the future of the UK’s electricity market. With such signals we are ready to supply the UK gas market for many years to come,” said the senior vice president.
Statoil is the largest supplier of gas from the Norwegian Continental Shelf to the UK, with a market share of around 16-18%.
