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03/10/2003
Government signs gas co-operation deal with Norway
The government has today signed an agreement with Norway which, it is hoped, could fulfil up to a fifth of the UK's annual gas demand.
Energy Minister Stephen Timms signed the deal which the government anticipates will take a "substantial step" towards addressing and overcoming Britain's predicted reliance on imported gas in the latter half of the decade.
Mr Timms met with his Norwegian counterpart, Einar Steensnaes, in Oslo to co-sign an agreement on principles that will be incorporated in a new Framework Treaty for future cross-border oil and gas co-operation between the two countries.
Today's agreement provides a firm basis for new investments by industry, most notably the proposed 'Britpipe' project from the Ormen Lange field that will bring an estimated 20 bcm/pa (billion cubic metres per annum) from winter 2006/7 - some 20% of the UK's current annual demand.
The regulatory terms for a prospective link between Norway and UK dry gas infrastucture has also been agreed.
(gmcg)
Energy Minister Stephen Timms signed the deal which the government anticipates will take a "substantial step" towards addressing and overcoming Britain's predicted reliance on imported gas in the latter half of the decade.
Mr Timms met with his Norwegian counterpart, Einar Steensnaes, in Oslo to co-sign an agreement on principles that will be incorporated in a new Framework Treaty for future cross-border oil and gas co-operation between the two countries.
Today's agreement provides a firm basis for new investments by industry, most notably the proposed 'Britpipe' project from the Ormen Lange field that will bring an estimated 20 bcm/pa (billion cubic metres per annum) from winter 2006/7 - some 20% of the UK's current annual demand.
The regulatory terms for a prospective link between Norway and UK dry gas infrastucture has also been agreed.
(gmcg)
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