"Wood Mackenzie projects that liquefied natural gas imports from the United States could account for around 60 percent of the UK's gas supply by 2035, a significant increase from roughly 10 percent in 2024."
"The consultancy argues that boosting domestic oil and gas output could help reduce exposure to international market shocks and improve resilience."
"Gail Anderson emphasized that reducing dependence on LNG imports should be a priority, especially in an environment where energy supplies are increasingly influenced by geopolitical conflict."
"Gas produced in the UK continental shelf has a lower carbon footprint than LNG transported across the Atlantic and can be supplied at significantly lower costs."
Britain's dependence on US liquefied natural gas (LNG) imports is projected to rise to 60% by 2035, up from 10% in 2024. Domestic gas production from the North Sea has been declining, leading to increased reliance on imports. In 2024, 43% of gas was sourced from the North Sea and a similar amount from Norway. Wood Mackenzie suggests boosting domestic production to mitigate risks from international market volatility and recommends a diverse energy policy that includes renewables and domestic hydrocarbons.
Read at Business Matters
Unable to calculate read time
Collection
[
|
...
]