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13/02/2009
New Offshore Gas Storage Opportunities To Open Up
A proposed new licensing scheme will open up an area of up to 200 miles around the UK for offshore gas storage and importation projects.
The scheme will create a regulatory environment that will encourage investment in new gas supply infrastructure, including gas storage.
Energy Minister Mike O'Brien said: "There are promising opportunities for offshore gas storage in depleted oil and gas fields and new salt caverns. But we need to simplify the processes involved so that more investment is forthcoming.
"Gas storage will become more important in the future as the oil and gas in the North Sea continues to decline and other sources of gas play a bigger part."
He added: "Increasing our ability to store natural gas and receive further supplies of Liquefied Natural Gas will help secure supplies of energy for the UK in the future."
The proposed licensing scheme is outlined in a consultation document that was published yesterday by the Department for Energy and Climate Change (DECC).
Under the scheme developers will need to obtain a lease from The Crown Estate for the area they wish to use for gas storage or gas unloading, and a licence from DECC to explore, operate or develop the field or facility.
DECC and The Crown estate will work closely together to ensure that the lease and the licence can be progressed in parallel.
The scheme will apply to the offshore storage of natural gas in sub-sea geological formations, such as depleted oil and gas fields, salt caverns and potentially aquifers.
The consultation also covers the unloading and regasification of liquefied natural gas offshore.
(JM/BMcC)
The scheme will create a regulatory environment that will encourage investment in new gas supply infrastructure, including gas storage.
Energy Minister Mike O'Brien said: "There are promising opportunities for offshore gas storage in depleted oil and gas fields and new salt caverns. But we need to simplify the processes involved so that more investment is forthcoming.
"Gas storage will become more important in the future as the oil and gas in the North Sea continues to decline and other sources of gas play a bigger part."
He added: "Increasing our ability to store natural gas and receive further supplies of Liquefied Natural Gas will help secure supplies of energy for the UK in the future."
The proposed licensing scheme is outlined in a consultation document that was published yesterday by the Department for Energy and Climate Change (DECC).
Under the scheme developers will need to obtain a lease from The Crown Estate for the area they wish to use for gas storage or gas unloading, and a licence from DECC to explore, operate or develop the field or facility.
DECC and The Crown estate will work closely together to ensure that the lease and the licence can be progressed in parallel.
The scheme will apply to the offshore storage of natural gas in sub-sea geological formations, such as depleted oil and gas fields, salt caverns and potentially aquifers.
The consultation also covers the unloading and regasification of liquefied natural gas offshore.
(JM/BMcC)
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