UK imported 45% of gas in 2014

UK imported 45% of gas in 2014

by Big Mac

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The UK imported 45% of gas last year.

That’s according to a report from the Parliamentary Office of Science and Technology (POST), which stated the nation produced 37bcm of natural gas and biogas combined but used 7bcm.

The report highlights production in the future will depend on conventional, shale gas and biogas.

The UK produced 2.6bcm of biogas last year and is expected to reach 7bcm annually by 2025.

That depends on government incentives and policy support.

However, significant qualities of shale gas are “unlikely” to be generated before 2020.

It also forecasts gas prices will remain low until early 2020s, affected by European gas demand and costs of production as well as new LNG supplies coming from Australia, Russia and the US and “possibly” East Africa.

the number of jobs are also expected to fall by 340,000 by 2019 and investment in the sector is forecast to be reduced by 80% to £2.5billion by 2018.

The report, however, added gas could help the country meet its emissions target.

It aid “climate change targets are likely to be a key driver of changes in gas use.  Using gas can help to meet short and medium tern targets where it replaces oil or coal.

“However, building or installing too many new gas0using units could create political, economic and behavioural barriers to reducing emissions in future decades when cuts in gas use will also be needed to meet carbon targets.”

The UK Government has announced coal-fired power stations in the country will be closed by 2025 and will be replaced with gas-fired power stations.