Bloomberg: No U.K. Shale Gas Would Lead to 91% Import Reliance: Grid
The U.K. may need to boost natural gas imports to 91 percent from 56 percent without production from shale rock, exposing the nation to global prices for the fuel, according to National Grid Plc.
Imports may reach 71 billion cubic meters (2.5 trillion cubic feet) a year by 2035 without shale gas output and with limited development of offshore fields, National Grid said in its Future Energy Scenarios report published today. The No Progression scenario is based on a slow economic recovery without new environmental targets and gas remaining a preferred choice for power generation over renewables.
“The 90 percent dependency is very, very high,” Richard Smith, head of energy strategy and policy at National Grid, told reporters in London yesterday. “The ultimate implication is that it exposes us more to the global market for gas, which is a price exposure.”