Statoil Criticizes British Gas Plan

Wednesday, August 15, 2001
Statoil said Britain risks losing out on gas imports if it does not change its pricing system for bringing natural gas onto the mainland from offshore fields. Rune Bjornson, managing director of Statoil (UK) Limited, said the recently introduced system of auctioning entry capacity, or access rights to the national pipeline system, produced very high, volatile prices. "We are not happy with the regime. We would like to have a predictable, stable regime which is more reflective of actual costs," Bjornson told Reuters in an interview. The erratic prices produced by the auction system will discourage producers like Statoil, one of Europe's main gas suppliers, from supplying gas into Britain where demand for natural gas is booming, he said. Britain is a gas exporter but in around 2004/2005 it is expected to become a net importer as demand is expected to continue growing while domestic supplies will start to dwindle. The government, worried by security of energy supplies, recently launched a review to take a root-and-branch look at the energy sector, including the role of the gas industry. Bjornson said Statoil would open its Vesterled pipeline in October linking Norway's main North Sea gas fields with the UK gas network but was unlikely to export large volumes of gas through the pipe until the capacity auction system is changed. "Volumes though Vesterled are not likely to grow before the entry capacity situation has found a more satisfactory solution," he said. The 50-kilometre (31-mile) Vesterled pipeline could flow between 10 and 12 billion cubic metres a year of gas, depending on the pipe pressure and gas quality. Bjornson said Statoil had held talks with the government, UK energy regulator Ofgem and national pipeline operator Transco

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Statoil Says Sees European Gas Prices Bottoming Out

Norway's Statoil does not expect European gas prices to fall much further as rising demand from the power generation sector would offset an expected increase in liquefied natural gas (LNG) supply,

Nordic Shipholding Profits below Market Expectations

For the 3 months ended 31 March 2016, Nordic Shipholding A/S generated a profit after tax of USD 1.5 million, compared to USD 2.7 million in the same quarter last year.

Euroseas Faces Headwinds, Reports Loss

Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes,

Energy

Poland Getting Ready for More LNG Imports

State-run Polish gas company PGNiG will receive its first spot delivery of liquefied natural gas (LNG) from Norway’s Statoil on June 25, it said on Tuesday, taking

Statoil Says Sees European Gas Prices Bottoming Out

Norway's Statoil does not expect European gas prices to fall much further as rising demand from the power generation sector would offset an expected increase in liquefied natural gas (LNG) supply,

Technip Bags Statoil's Umbilical Supply Contract

Technip’s wholly-owned subsidiary Technip Umbilicals Ltd.(1) has been awarded a contract by Statoil ASA to supply the umbilical(2) to the Oseberg Vestflanken 2 field offshore Norway.

 
 
Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0595 sec (17 req/sec)