UK Energy Transition | Promoting UK gas production – a win-win scenario lost in politics

July 4, 2024

By 2030, UK gas production is set to decline by 59% compared to 2024. Current UK gas demand, around 8 bcf/d, is more than double indigenous supply and is met largely through a combination of piped imports from Norway and LNG imports globally. The current supply and demand balance means a reliance on carbon intensive LNG imports, making meeting net zero targets challenging. If the UK is to increase domestic gas production, the current investment environment needs to change and a more favourable fiscal regime is required.