(c) offshore-technology.com
The Culzean field, 145 miles east of Aberdeen is expected to be at peak production in 2020-21 by which time it will be producing enough gas to meet 5% of total UK demand or, of course, more than 50% of Scotland’s total demand.
In April, we heard of another field, west of Shetland, that could fuel 100% of Scotland’s total demand. See:
So, if we have the gumption to go solo in the next few years we won’t be beholden to Putin for Russian gas supplies like most of the rest of Europe.
As soon as the next independence referendum is announced immediately the msm will be telling us that prices are on the slide and that the fields will be dry in less than 10 years.
Of more concern is the changes in the tax regime which Mr Hammond has introduced which has reduced government revenues from oil and gas production. Indeed, some changes will actually mean public money going to private companies. There has always been a case for government investment to promote and foster developments – it is good Keynesianism – but it has to be under clear conditions, with enforceable conditions placed on the private companies.
LikeLike
At only $15pb to bring it up, they should be taxed.
LikeLike