Britain will rely on foreign oil and gas imports by 2030 unless investment is secured
At least 80 per cent of Britain’s gas supplies and 70 per cent of oil must be sourced from abroad by 2030, a UK oil and gas trade body said on Tuesday, unless there is investment to boost North Sea output. Offshore Energies UK (OEUK) said major investment is needed to offset a reliance on imports after Norway became the leading supplier of gas to Britain last year – the first time a single country has become the primary source. Deirdre Michie, chief executive of Offshore Energies UK, said Britain’s overall oil and gas production will fall by up to 15 per cent a year unless there is rapid investment in new infrastructure. “This decline is much faster than the predicted reduction in UK energy demand so, if there is no such investment then, by 2030, we will be reliant on other countries for at least 80 per cent of our gas and 70 per cent of our oil,” Ms Michie said. “That gap will have to be filled by imports, meaning the UK will become ever more dependent on other countries.” This r...