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What’s in store – The need for UK gas storage

Energy Briefings

Background

In partnership with the Energy Institute, we are pleased to introduce a series of Energy Briefings designed to provide insightful analysis into key issues within the UK energy industry. The Energy Briefings Series will offer expertise and market intelligence, which we trust, will become a valuable source of information.

What’s in store – The need for UK gas storage

For the past 40 years, the oil and gas industry has represented the largest sector of industrial development in the UK. Despite the industry’s steady decline, indigenous oil and gas sources still meet around 60% of the UK’s energy supplies, equivalent to about two-thirds of the nation’s overall primary power needs. But the next few decades are set to look very different from the past. Over the coming 10 years, 65% of active oil and gas fields on the UK Continental Shelf (UKCS) are due to be decommissioned. This includes 45% of existing platforms and more than two thirds of all subsea units.

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