Natural gas can be an important part of securing UK’s energy supplies and cutting CO2 emissions. But political will is needed to realise the full potential and attract the right investments.

Statoil’s campaign comes ahead of expected reforms of the UK energy market in the form of the Electricity Market Reform (EMR). These reforms will set the regulatory framework for different forms of energy used to generate electricity. The reforms are linked to the UK’s targets to reduce its greenhouse gas emissions by at least 80% by 2050, relative to 1990 levels.

“We are raising our voice in the UK to underline that natural gas is not ‘just another fossil fuel’. It is a long term energy source – fit to deliver cost-efficient CO2-reductions and secure energy supplies. We are keen to see a regulatory framework that realise the full potential of natural gas, and there is a window to act now,” said Rune Bjørnson, Statoil’s senior vice president for Natural Gas.

“Natural gas can be instrumental in delivering on the UK’s 2050 climate ambitions in a secure and affordable manner” says Bjørnson. He adds:

“This should be recognized in the framework for the future of the UK’s electricity market. With such signals we are ready to supply the UK gas market for many years to come.”

Statoil is the largest supplier of gas from the Norwegian Continental Shelf to the UK, with a market share of around 16-18%. Norway and the UK have strong energy links with three gas pipelines transporting gas from the Norwegian Continental Shelf (NCS) directly to the UK gas market.

Statoil is currently running a gas marketing campaign in Europe, profiling natural gas as a fuel for the future and encouraging debate about addressing the energy challenges that Europe faces.