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Sunday, November 17, 2024

The Tories are lying again: This time about gas and oil

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Lies! Lies! lies! Repeat! Repeat! Repeat!

Where Does the UK get its Gas From?

People may be surprised to learn that the UK currently sources around 50% of its natural gas from its own territory, with the North Sea accounting for an estimated 50%. 

The remaining 50% of UK gas supplies are imported from various different countries around the world, including Norway, the United States and Russia. 

In the infographic below we provide a complete breakdown of the latest official figures on UK gas and oil imports. 

(heatable.co.uk)

At present, official figures indicate that Norway accounts for the majority of the UK gas imports at around 1,440,000 metric tons, which makes it responsible for one-third of all imports.

The United States accounted for the second highest importing around 93,000 metric tons of gas.

Meanwhile, Denmark and Belgium each imported around 45,000 metric tons.

Interestingly, Russia only accounted for approximately 3% of UK gas imports at just 9,000 metric tons, while France imported just 8,000 metric tons.

What about UK Oil Imports?

In a similar pattern to natural gas, the majority of oil imported to the UK comes from Norway, which supplies us with roughly 11.7 million metric tons of crude oil annually.

The second largest supplier of crude oil to the UK is the US, which actually provided more oil than Norway back in 2019.

We also import around 3% of oil from Saudi Arabia, which may also surprise people. 

Why doesn’t the UK just drill more gas and oil from the North Sea?

The major reason that the UK doesn’t increase its domestic supply of gas and oil is due to prioritising the UK’s energy security. 

For instance, some estimations, although disputed by others indicate that the North Sea’s gas reserves will be depleted by around the year 2030. 

For illustration, the country as a whole currently uses around 578,000,000 barrels of oil per year, while the North Sea has proven oil reserves of 2,754,685,000 barrels.

That means that if we relied only on North Sea reserves, they would run dry in just 5 years! 

For this reason, the UK government still sources a combination of gas and oil from other countries.

The Reality of why Sunak is lying to us:

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