UK North Sea gas may buck decline trend

Record investment in UK North Sea gasfields could reverse a decade-long downward production trend, according to consultancy Wood Mackenzie

Gas production has been falling since the beginning of 2000, as fields mature, but large new developments mean the next few years could see output rise again. “We forecast the decline in UK gas production to be arrested in the next three to four years, because of gasfield developments west of Shetland, before the declines continue again from 2015,” said Graham Freedman, senior gas and power analyst at Wood Mackenzie. The consultancy predicts UK North Sea gas production to climb this year and rise to 51.1 billion cubic metres a year (cm/y) in 2015, 10% above output last year. “The main projects coming on stream in 2012 and 2013 are Devenick, Breagh and Jasmine, which should add around 5 billi