Industry

Breaking: UKOG gives up on oil drilling at Arreton, Isle of Wight

UK Oil & Gas (UKOG) has announced it will not appeal against the refusal of planning permission for exploration near the village of Arreton on the Isle of Wight.

Photo: Don’t Drill the Wight

In a statement this morning, the company said the estimated £500,000 cost of a planning appeal would now be spent on other projects.

Isle of Wight Council blocked the application in a unanimous vote in October 2021

Planning officers had recommend approval of the scheme, arguing that “economic benefits outweigh environmental harm”.

But councillors said the proposal had no local economic benefits and would damage the Isle of Wight’s high-quality natural landscape, key to its tourist industry.

UKOG said this morning:

“Given the number of new opportunities available to the Company, all of which are considered to offer far greater success case economic impact and higher probabilities of success than the proposed Isle of Wight project, the Company has decided not to appeal against the planning refusal.

“The envisaged £0.5 million planning appeal costs will therefore remain available and could be used for developing new oil & gas and geothermal/energy storage projects.”

Opponents welcomed the news this morning. A spokesperson for Don’t Drill The Wight said:

“We are delighted to hear that UKOG has finally decided not to appeal the decision of the planning committee to reject the Arreton Oil site application.  It is a huge relief for us all on the island.

“We hope that this will give our council the confidence to include a specific statement within their upcoming review of the Island Minerals and Waste Plan rejecting all plans for fossil fuel exploration and extraction. The Isle of Wight exploration licence is still active until July 2023 but it is doubtful that it will be sold on by UKOG to another
operator.

“We are continuing to monitor the Government’s policies on future plans for offshore developments, since the Isle of Wight offshore licence P1916, which was dropped by UKOG in 2018, could be included in the next
offshore round of licences.”

UKOG sought three years of consent for a well pad, new access track and road junction, and drilling and testing of vertical and sidetrack wells.

Site of UKOG’s proposed Arreton oil site, 23 March 2020. Photo: Frack Free Isle of Wight

It said today it had taken “considerable care and undertook much research to minimise the potential impact of the site”. The location was near a anaerobic digester and a quarry.

But opponents said the company had relied on out-of-date studies and had not carried out 2D or 3d seismic surveys.

UKOG had estimated the Arreton site could produce 500 barrels of oil a day from vertical and sidetrack wells drilled into the Portland formation.

Opponents pointed to predictions that the site would release 24,000 tonnes of CO2 equivalent, from flaring of unwanted methane gas, the operation of machinery and lorry journeys.

Six parish councils opposed the application, raising concerns about the impact of the site on the local road network and ferry port, through which any oil produced would be exported.

UKOG had six months in which to appeal against the planning refusal. The deadline to lodge an appeal was due in April 2022.

The company said:

“Having taken time to consider, the Company has decided not to appeal this decision.”

The estimated value of the Arreton asset has been written off, in annual accounts, also published today, the company said.

At the time of writing (08.25am), UKOG shares were broadly unchanged. The company said it had written off £0.95m in its accounts as a result of the decision not to appeal.

  • More details on the accounts coming soon on DrillOrDrop

40 replies »

  1. Yet another addition to the licences that have failed. Offshore Isle of Wight, Baxters Copse, Markwells Wood and Holmwood, It will be Broadford Bridge next. How much has that cost UKOG PI’s? They have raised about £80m by my reckoning.

    • Congratulations to everyone in the Isle of Wight who successfully opposed and objected to UKOG#s clearly inept and unscientific attempt to force through their planned invasion of the Isle of Wight and to exploit what little oil and gas exists there. What little oil and gas the UKOG# plans would not benefit anyone on the island or elsewhere in Britain. What little would have been extracted would have been sold off for great profit on the world market only. Not produced to ease energy poverty of anyone anywhere.

      Also, congratulations to Don’t Drill the Wight for their determined composure and logical substantiated consistency to protect the Isle of Wight from enforced industrialisation of their homes and villages and towns.

      Well done, everyone who objected to UKOG#s attempts, regardless of location. The unsuccessful attempt by UKOG# is now a precedent in factual, scientific and legal terms to be of use for any future attempts.

    • Exactly Jono. There might be some Turkish oil being delivered up the Solent to Fawley, instead. RMT may gain a little, but transport emissions would rise.

      However, in economic terms the decision makes sense. Wonder what will put on the site instead?

      Yes, Mike, I noticed that deal just done between the USA and Europe. May have some practical issues as LNG terminals seem a little scarce in Northern Europe, other than UK, but I suspect there will be some solutions to that.

      The usual suspects will continue to suggest it is all a mirage rather than your suggested explanation. No wonder Chesapeake Energy were so highly rated recently as a US gas stock! (No, I am not an investor.)

        • Nope, Jack. You need to correct your tenses-“filed”. Since exited Chapter 11 bankruptcy. Keep up.

          Living in the past may be comfortable, but better to identify the circumstances of then, today and the coming years. But, the usual suspect bait caught the fish. I suggest you avoid too much Guardian-they like living in the past too.

          Early this year, the same company acquired another business for around $2.4 billion, which has a lot of noughts, was then rated in the top 3 best value natural gas stocks in USA and rated a buy by 10 out of 10 analysts, and then Biden agrees another 15 billion cu meters LNG supply with Europe-another lot of noughts, to add to the previous 35 billion, which also has a lot of noughts.

          (P&O used to have a strong brand! Perhaps they do not now. Nottingham Forest and Ipswich were amongst the best teams in Europe. I suspect there may be one or two living in the past with respect to those situations, but have become a laughing stock to the majority.)

          • MARTIN ,

            I’m not living in the past , I’m just warning potential investors as to what type of a RISKY , debt ridden ponzi scheme fracking is .

            It makes sound business sense , even to a TWO YEAR OLD , to look at the whole picture of a company, both past and present.

            • Really Jack? You now are offering sound business sense?

              So, please explain why you did not look at Chesapeake Energy PRESENT situation?

              Apparently, even a TWO YEAR OLD knows that should be done!

              Oops.

              • MARTIN ,

                I’m glad you’ve brought the Chesapeake topic up in your above comment , you say, quote ,” Chesapeake Energy PRESENT situation. ”

                I’m surprised you’ve handed Jack another golden opportunity to once again knock the unconventional Oil and Gas industry .

                As I’ve said in my previous comments , I do question which side of the fence your sitting on regarding fracking.

                Either your on the side of the Greens , your very nieave on worldly matters , or you must think we’re all Brand New. Which one is it MARTIN ?????

                Anyway , let’s move on , I will get straight to the point .

                The current situation in Ukraine and the sanctions on Russia have handed the United States , debt ridden Fracking ponzi industry , a lottery winning ticket.

                With very sparse Fracking regulations in the USA , the highly energy intensive, costly American Fracking industry can at this moment keep its head above the water line , as the much cheaper Russian Gas imports has been/ will be restricted due to sanctions.

                Switched on readers will be aware that importing costly American Shale Gas via ships, will do little to reduce the UK ‘s energy costs to anything near what they were .

                You may also ask , well why don’t we produce our own Gas via Fracking . Some might say that we can reduce costs because we won’t have to ship it in from half way around the world . That is indeed correct , BUT to compete you would also have to have a BONFIRE of health and safety regulations and accept the implications that poor health to both humans and animals , damage to the environment , a rampant increase in climate changing methane emissions will have on our society . You will also have to accept that there will be a financial burden for future generations regarding the maintenance and upkeep of hundreds of abandoned/orphaned wells . What sort of a person would want that ??????

                MARTIN ,have you even considered , what the financial cost of poor health will be to our NHS , if widespread Fracking in the UK goes ahead ??????

                Taking note of the above , the case to keep fracking out of the UK, still remains strong .

                With all things considered, you could say , that with the current world energy crisis . Introducing home DIY kits , to extract Oil from ear wax now seems a feasible, profit making option .

                Chesapeake Energy , HAHA any fool in any Oil and Gas industry couldn’t help but make money under the present situation.

                • OMG.

                  So, Chesapeake Energy are making money, Jack!

                  Nice to see the journey you have travelled since you originally posted your link to Chesapeake Energy.

                  See how much more you can learn from a situation when you stop being the marketing professional’s friend-a follower.

                  “You may also ask”. Well, I do not, Jack. Why? Because I know that in UK there are different standards applied for many things. Does the UK follow US regarding livestock production standards? Nope. UK sets its own. Your assumptions are not based upon any reality that can be observed, if someone wants to open their eyes. (Be careful crossing the road!)

                  And, no, it would not reduce costs, Jack. You have failed at not only understanding the issue, but have probably been excommunicated from the anti ranks for doing so! It would increase UK taxation revenue and would reduce transport emissions, if successful. (Even the CCC states UK production of gas has a smaller carbon footprint.) Increasing UK taxation revenue is not to be sniffed at either, Jack. There seem to be a lot of people around who believe their tax burden should be reduced, and someone else should fund the extra services they also want. US frackers will not do that, Jack. They are doing it for themselves, in their own country. Even whilst washing dishes.

                  Also, please ask those around you who pay the energy bills why the price of gas was so high prior to the situation in Ukraine, with so many energy companies going out of business. You do really need to be a bit more accurate with what you present, or, you may get a job with the BBC, or as a politician.

                  In respect to “poor health”, even in the areas where standards may not be as high as in the UK-Texas for example-I note there are plenty of healthy individuals, earning very high salaries and able to afford decent health care as a result. Also, a lot of healthy cattle. Unfortunately, there are some who spend a disproportionate amount of those high salaries on food and burden the US health care system with the consequences. I would not suggest they should not have the high salaries or access to the food. I would suggest they should adjust their standards a bit more. May be a bit more delayed with US fracking though Jack, as they are going to be so busy, once they get the sand, helping out those silly enough to make energy decisions which are now showing to be daft ones, and, now, according to yourself, making money from being so helpful! Even Mr. Musk has recently moved to Texas!

                  It took a while, Jack, but at last you have faced reality. You will feel better for it.

                • MARTIN ,

                  PLEASE NOTE ………… What I said, quote , ” Chesapeake Energy , HAHA ANY FOOL in any Oil and Gas industry couldn’t help but make money under the present situation.”

                  If your having difficulty understanding any of my previous text , please ask Jack for help.

                • Interesting Jack.

                  So, the present situation is not 2020.

                  I believe most knew that already, Jack. It was yourself who wanted to go back to 2020.

                  How long is the present situation going to continue for? That is the important question. OBR indicate through to at least 2027, but somewhat less than the current situation. That would still allow those in the US to sell at around double their production costs, as long as they can control those.

                  They may look like fools to you Jack, but it looks to me as is they will be very happy ones.

                  Perhaps the ones who will look more foolish are those who suggested the following in February of this year:

                  “There was a huge danger of global over supply of oil and gas.”

                  Not sure those will be trusted with their “scientific” opinion again, so they may not be as happy.

                • MARTIN ,

                  I see your having difficulty again, with the Nursery School level of economics.

                  ( 1 ) The higher standards that the UK would put on Fracking… Would cost the Fracking companies MORE MONEY , that would eat in to their profits , subsequently reducing tax revenue for the Chancellor. Although I do suppose fat cat CEOs with their offshore accounts, will still continue creaming off their pay in full.

                  ( 2 ) Whatever tax revenue is raised , it will be dwarfed by the increased financial burden on the NHS through Fracking related illnesses and that’s even with costly Fracking operational standards being put in place .
                  Environmental clean up costs and the ongoing maintenance cost of orphaned wells that will continue long after these companies have done their Harry Houdini disappearing acts , will when combined together make Fracking a huge white elephant.

                  ( 3 ) Its true energy prices had gone up prior to the Ukraine crisis , but this crisis in Ukraine has turbo charged the increases to an unmanageable level for UK citizens .

                  ( 4 ) You talk about being able to afford, quote , ” decent health care .” ALL the money in the world means nothing if you have a terminal illness or ongoing health issues as a result of living in close proximity to a Fracking site .

                  ( 5 ) Also when you offset your so called, well paid job against the substantial drop in the value of your home as a result of living close to a Fracking site . It really makes Fracking a total disaster for many people.

                • MARTIN ,

                  AND YES , whilst cheaper gas is forced out of the market and the more expensive Shale Oil and Gas in set to part fill the energy gap .

                  You noticed I said ” part fill ” the energy gap . That will ensure prices remain HIGH keeping the party going for the Oil and Gas producers.

                  ANY FOOL could indeed make a fortune , even in the costly , unconventional Oil and Gas industry.

                • Ahh, now you would prefer cheap US fracked gas, Jack! A total U turn.

                  You miss the point that with high gas prices then a few improved standards would still not reduce the tax take that significantly. Might even be room for a windfall tax! LOL. Remember, UK gas prices are already considerably higher than in USA, so plenty of head room.

                  And, over in USA there are not huge health care costs from fracking. No health care costs from handling cobalt in DRC though, Jack. There the kids are just allowed to handle carcinogens and get the consequences, instead of being educated, to satisfy wealthy Western people who like to moralize on social media about other things and ignore them. There are also many who welcome fracking sites close to their homes in USA as they contribute to things like school funds. There are many businesses who welcome them too. Take a look at the price of sand, Jack.

                  However, your preference is noted, and you will be pleased to see that the drilling rig count is still rising in USA-how many more have they got? And, that renowned financial guru, Jack, states there is money to be made, so I suspect the Americans will find the means to make some more.

                  And, no, Jack. Energy prices in the UK are not unmanageable to UK citizens. They are difficult for some, and they need support. They are certainly not unmanageable for the many where their household savings have actually increased during the pandemic. They may need to review what they intended to do with those savings. Sorry, but that is what is required when inflation takes off. Some of us have been through it before, Jack. What was thought to be money for goodies, suddenly isn’t. Sad, but reality. Your “apprentice”, Warren Buffett, was warning about it months and months ago, whilst the politicians were pontificating that it was not a risk. Just goes to show, Jack, that it may be better to pay more attention to the realities and less to spin from the uninformed.

                • MARTIN ,

                  Are you having a laugh ???? Nowhere have I said that I would prefer the expensive American shale gas …. Why would anyone support a process that is dangerous to human and animal health , environmentally damaging, climate changing and has endless financial cost for future generations with the ongoing maintenance cost of abandoned wells … With that in mind , you have to ask yourself, what type of a person would support such a thing .

                  A windfall tax on the Oil and Gas companies may not be the best solution . As the revenue raised may be used on other government pet projects that do no address the urgent climate crisis ….. It would be far better to set in place , legislation to force Oil and Gas companies to invest more of their profits in to renewable energy projects… Various sweetness could be set in place to make it more appealing to these companies … The idea is to keep the money and investment here in the UK and not let it be syphoned away by greedy fat cats in to exotic tax havens .

                • MARTIN ,

                  Once again I must THANK YOU for giving Jack the opportunity to highlight the dangers of Fracking again. .

                  I’m beginning to genuinely think you may secretly be on the side of the Green activists…. I hope you are , we’d make a great double act.

                  You say , quote, ” “And, over in USA there are not huge health care costs from fracking.” Well even though Fracking in America is done in very sparcly populated places ,. The dangers are still very clear and present

                  Take a look at the warning from Breast Cancer Action .

                  https://www.bcaction.org/the-root-causes-of-breast-cancer/our-fossil-fuel-work/dont-frack-with-our-health/

                • Oh dear. Back to the usual twaddle, Jack.

                  Maybe look at the research that states sexual activity is increased near USA fracking sites!? Then perhaps, use some common sense to work out why and what other consequences might be? Nope. Just link some things where there is no proof of a direct link. You have been doing it for some years Jack, so there must be enough gullible followers to justify it, but not me. Perhaps, just identify what people are doing with their disposable income when it rockets? You may find they do not invest it in things that benefit their health but quite the reverse, but it is their choice. I offered you the advice and source regarding those who dropped out of education but were able to wash dishes and earn $60k/year. You would find that what they might do with that money is strictly controlled when they are working, to protect their health and that of their co-workers. Unfortunately, the same controls are not applied to those not directly employed.

                  However, with the USA about (maybe) to release the largest amount of oil from their strategic reserves, news of which is already moderating world oil prices, just think of all those around the world who will be hoping they can scrape together some more drilling rigs, find some more sand, and frack away some more. Especially those daft enough who have been paying £2/liter for fuel in Chelsea.

                • MARTIN ,

                  Your OPINION , backed up with the usual sweet NOTHING , I’m sure has been duly noted by the readers .

                  What I say , I back up with evidence from reputable , professional , qualified people and organizations who are not afraid to put their REAL names behind what they say.

                  Forum members , the choice is yours ….. You can either accept the word of MARTIN ( Mr Opinion ) as the gospel truth on all matters relating to Fracking .

                  BUT PLEASE NOTE………. On here you can pretend to be anything you want. It is therefore worth bearing in mind when you decide what is true and what is fake ….. MARTIN’S professional abilities in life , may only stretch as far as being able to roll out an evenly packed Kebab in a fast food joint .

                  If I say something , I will always be willing to back it up with evidence ( LINKS.)

                  Better still, I ask that the readers do their own research on the dangers of Fracking .

                  ONE last thing , MARTIN , you may brand people as ” daft ” for paying £2 a litre at the pumps , but if that’s the price in your area , then that’s the price you have to pay . It has been stated by professional bodies of people , many times …….. COSTLY FRACKING will not , I repeat will NOT bring down your energy costs to what they were , pre pandemic / pre war . It is therefore safe to assume, Fracking will keep prices HIGH .

                • Nope, that was the price at one fuel station in Chelsea, Jack. The average price was much lower. A little bit of common sense for you Jack. If you have a car that runs on fossil fuel you can drive a short distance-that is what cars allow- to another fuel station if one is trying to rip you off.

                  [Edited by moderator]

                  So, you post information from scientific and reputable sources? Nope, you started off posting a load of historic tosh about Chesapeake Energy and suggested it was somehow relevant currently.
                  Well, Jack, if someone is worried about living in Chelsea, they could have bought stock in Chesapeake Energy one year ago at $43.31 and see the value peak at $89.32 one year later and made enough to buy many liters of fuel even in Chelsea.

                  So, your links are an attempt to excite the gullible. Anyone would have to be pretty gullible to observe those price movements and analysts reports to consider your link as either scientific or reputable. Sorry Jack, you posted it not me, you need to own it not keep trying to justify it.

                • MARTIN

                  After YOU personally questioned what I had said, that there were petrol stations charging £2 + a litre in the UK , I showed you the evidence . Now you believe that to be a TRUE fact ….. In your own words , does that make you ” gullible ” ?????

                  You now are trying to imply , that petrol station is a, one off, to back up your comment that people were ” daft ” for paying such a price . WELL MARTIN , come on , prove that that petrol station is a , one off.

                  [Edited by moderator]

                  MARTIN , You’ve lost this argument as you do on so many occasions…… What I say , I back up with LINKS to studies from reputable organizations that show evidence as to why Fracking is dangerous.

                  YOU on the other hand offer NOTHING , just your OPINION . To now try and brand people that read and accept the indisputable evidence I put forward as, quote , ” gullible ” whilst offering nothing but your OPINION to support your counter argument , well it’s just laughable .

                • MARTIN ,

                  Chesapeake Energy DID file for Bankruptcy with $ 9,000,000,000 of debt , FACT and that is a very relevant piece of information for both past , present and future investors..

                  You may close your eyes and stick a pin in the Times Newspaper to make a snap decision as to which company to invest in next , but here in the real world , we read the newspaper and look at the history of the company .

                  https://www.theguardian.com/environment/2020/jun/29/chesapeake-energy-fracking-pioneer-files-for-bankruptcy-owing-9bn

                  The only reason this American company has managed to resurrect itself is due to the fact that the MUCH cheaper Russian Gas has all but been cut out of the market with sanctions… COSTLY American Shale Gas companies under the present situation are now able to keep their head above the water , That is of course while they continue to cut costs by giving a two finger salute to the environment, climate change , health and safety .

                • Oh dear, Jack.

                  So, you are back to what one fuel station charged in Chelsea!

                  Was that representative? Nope.

                  That is what you do, Jack. You take an outlying one off and present as the reality. It obviously isn’t. Do you actually have any contact with the UK? You seem to have contact only via the Internet, and no knowledge of reality. What is a price of a beer in some outlets in Chelsea compared to most other parts of the country?

                  Reference your many silly links, all I can say is they now look very silly, don’t they! Today, USA is having to release 1m barrels of oil per day to try and moderate the price of oil which is impacting every person in the world. Biden is having to tell oil and gas companies to INCREASE drilling to try and keep that help going. (Interesting he thinks he can do that. Texas may just ignore it, or not if they feel differently.) That is the reality, Jack. You may not like it but that is what is happening. Your “reputable scientists” may not like it, but that is reality. They can always continue to produce such stuff, but I suspect they have lost the audience-as you did when you tried to post the original link regarding Chesapeake Energy, without even bothering to look at what is now happening and think, “Oh I had better be careful because someone might do that.” Well, I did Jack. Don’t get angry because you couldn’t be bothered.

                  Dust off your marigolds, Jack. There are dish washing opportunities out there.

                • MARTIN ,

                  Thank you for your OPINIONS once again . It has been duly noted that your OPINIONS have been backed up with the usual sweet nothing .

                  MARTIN , after first being corrected and shown that petrol WAS being sold for £2 + a litre in Chelsea , you then tried to save face by saying people were ” daft ” for going there and suggested that they go to another station …….. Jackthelad then then said,
                  people have you pay the price the area demands ….. YOU disputed that .

                  I then asked you you to provide PROOF that £2+ litre wasn’t the standard price in Chelsea….

                  Once again MARTIN , Jackthelad has you on the ropes. You FAILED to back up your comments with any proof on the matter .

                  Therefore the readers should acknowledge what you said, is just another one of your, wild , OFF THE CUFF OPINIONS .

                  Asking jackthelad if I know what the price of BEER is in Chelsea is totally irrelevant to this conversation and NO before you ask , I also don’t not know what the price of clothes pegs or nail clippers .

                  MARTIN , I would once again like to THANK YOU for giving jackthelad a fantastic platform to present my LINKS from credible reputable sources / organizations that fully expose what a toxic , dangerous industry fracking is.

                  I’m aware that I will never change your OPINION on the matter ,, but you are not my target audience .

                  I will continue to back up ALL that I say with indisputable evidence in the form of direct LINKS to credible reputable people/organizations that warn of the dangers of Fracking.

                  In your above comment you say quote , ” Texas may just ignore it, or not if they feel differently.) That is the reality. ” Texas fracking companies may be willing to put profits before the health of the people or the environment , but here in the UK we still have a chance to keep this toxic industry off our land , which is why I will continue to do what I do.

                  FINALLY, I’m posting this comment and LINK once again . It’s clear you did not read what I said before constructing your OFF THE CUFF reply

                  https://www.theguardian.com/environment/2020/jun/29/chesapeake-energy-fracking-pioneer-files-for-bankruptcy-owing-9bn

                  The only reason this American company has managed to resurrect itself is due to the fact that the MUCH cheaper Russian Gas has all but been cut out of the market with sanctions…… COSTLY American Shale Gas companies under the present situation are now able to keep their head above the water , That is of course while they continue to cut costs by giving a two finger salute to the environment, climate change , health and safety.

                • More nonsense, Jack.

                  The £2/liter quote can be checked. It is easy to do. In the article reporting it I read there is also a comparison with the national average!

                  Sorry, Jack, it is in the Chesapeake Energy link category. Check the details and the real situation can be identified very easily.

                  And, no, it isn’t anything to do with producers of oil. It is to do with a specific retailer of oil product.

                  So, the figure did not represent the national reality, the reason for a one off didn’t represent the oil producers either. A double whammy.

                  As you state that you can be what you like on DoD, then you have demonstrated what it is you want to be. Unfortunately, it is someone who tries to put forward statements that are factually incorrect, and very poorly camouflaged. I believe the original Jack the Lad was infamous for it. Don’t think there is anything too subliminal there to confuse too many.

                • MARTIN ,

                  I agree , you can be anyone you like on here , which is why I always back up what I say with evidence from professional, doctors and professors in medicine, science and engineering who have a proven track record in their field of expertise. Working for credible, reputable organizations that are willing to back them up ….They are willing to put their real names and reputations on the line for what they say.

                  You on the other hand only ever give us your OPINION.

                  When I ask you for evidence to substantiate what you say , you just go in to a full scale diversionary mode . You will never be on the winning side with that line of attack.

                  Anyway MARTIN , it’s been a lively , enjoyable debate this week. Enjoy your weekend, Jackthelad

  2. Well now the US has announced an increase of lng production of 15 billion cubic metres that will be shipped to Europe to make up the shortfall in supplies from Russia. This means a huge increase in emissions and a huge increase in income fir the US treasury. This is what happens in the real world when local production is blocked. I look forward to the environmentalists explaining how this is good for the planet.

  3. 15 billion cubic metres of fracked gas from the USA to fill the gap created by removing 155 billion cubic metres of Russian gas, Houston we’ve got a problem.

  4. Replacing reliance on Russian hydrocarbons is yet another consequence of the geopolitical fossil fuel baggage that has plagued the world for many decades.

    The IEA has set out a 10 point plan, importing more other sources of gas/LNG is only a part of the plan. Much relies on the sort of actions many of us have advocated for a long time, more renewables, energy efficiency and nuclear.

    https://www.iea.org/reports/a-10-point-plan-to-reduce-the-european-unions-reliance-on-russian-natural-gas

  5. Hmm, KatT. How long for those nuclear reactors to be built? Shame Germany closed theirs due to pressure from the Greens!

    Perhaps the IEA would have done better to produce a plan many years ago, that actually supplied energy security. Stable door and horses come to mind.

    Nope, in the short term most relies upon those fossil fuels ramping up output. The USA 15 is an addition to considerable current volumes from USA taking the total to 50. Canada is increasing output and Brazil promises to do so also. Aramco has already agreed. UK will do a bit, I expect Norway will be pressured to do quite a bit.

    Meanwhile, the OBR are predicting high gas and oil prices for UK through to 2027.

    • So, Sizewell to cost £20b, of which “we” have just pledged £4b, and EDF £4b. Only another £12b to go, which will be much more by the time it is completed.

      Wonder where our £4b will come from? I have a suggestion. Get rid of the £2m/day in subsidies paid to Drax to burn wood chips. Another of those green initiatives that prove not to be so green, and in this case add £11.60 to every household energy bill.

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