Oil & Gas UK to Hold Future Gas Supply, Prices Pow-Wow

Over a hundred delegates are expected to attend Oil & Gas UK's forthcoming breakfast briefing entitled 'Where Next for Europe's Gas?' The event will be held at 8 am on September 9, 2008 in London and is sponsored by Herbert Smith and The Royal Bank of Scotland.

The leading energy commentator and consultant, Patrick Heren, will explore where gas supplying Europe and the UK will come from in the future as well as the factors that will affect prices.

Malcolm Webb, Oil & Gas UK's Chief Executive, commented, "The gas market in Britain continues to evolve as sources of supply and circumstances in the wider European and world markets change. While UK gas production satisfied three quarters of our demand in 2007, indigenous production is now in decline but we must remember that 40% of our gas reserves still remain to be extracted. Alongside maximizing our domestic gas production, the UK and the rest of Europe will need to draw gas from increasingly diverse and more distant sources."

Oil & Gas UK's summer breakfast will also consider whether the oil indexation of wholesale gas prices is here to stay and will challenge the progress being made by the European Commission in its efforts to liberalize the EUs gas markets. It will also examine the impact of LNG supply and demand on gas markets.