Russell Anderson retweetledi
On the same day that @RachelReevesMP was trying to pretend that the Budget was not a huge betrayal of @UKLabour's pre-election promises, @neso_energy quietly put out a report highlighting risks to Britain's energy security
As North Sea oil and gas production declines, the pipelines bringing oil and gas to shore become less viable
These pipelines rely on minimum volumes to be viable, and these limits could be met earlier than the overall viability of producing fields
Once the pipelines close those fields would become stranded - instead of the smooth production declines expected in all the foreacsts, production decline will be uneven, as pipeline closures will cut off viable fields leaving them with no route to market
NESO is warning that this put GB at risk of running out of gas on cold winter days in the coming years. Its forecasts are almost certainly too optimistic - these risks could manifest in the next 2-3 years
There aren't many solutions to this problem. The most obvious one is to restore the fiscal viability of the North Sea by scrapping the windfall tax and allowing new drilling
Otherwise we're going to need to install more LNG import capacity, with floating regas being the most viable option
This is another example of the foolish approach to the UK's oil and gas resources by this Labour government
Cutting UK oil and gas production isn't reducing consumption, it's simply forcing higher imports which are more energy intensive
It's bad for the economy, bad for jobs, bad for energy security and bad for the planet
Lose / lose
Why can't @Ed_Miliband see it?
@ClaireCoutinho @AndrewBowie_MP @NJ_Timothy @DavidGHFrost @mattwridley @griffitha @Keir_Starmer @KemiBadenoch @Iromg @AllisonPearson @EdConwaySky @mattotele @afneil @jonathan_leake @energygovuk
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