Not True
Gas delivered at UK North Sea terminals (St Fergus, Easington, Bacton) is not cheaper than gas delivered at continental hubs. NBP must track TTF because:
- The UK is physically interconnected with Europe
- The UK has almost no storage
- Europe’s LNG and pipeline demand sets the marginal price
So even though the UK lands its own North Sea gas,
it pays European prices.
Kathryn Porter is certainly a well educated individual
But she suffers from lack of contact with reality
It would be nice if the UK had nationalized the Gas Fields and developed them as a National Asset
In the lease agreements they made with private companies such as Shell, BP, had not given the developers the right to sell the Natural Gas in the open market, then the UK could demand the gas be delivered to the UK at less than world prices
Or the UK could have demanded a bigger share of the profits
Which is what they are currently doing,
Nobody wants to spend the money to develop the fields, take the risk of loss at the profit split the UK is offering for current leases
Kathryn knows this
But she gets to preach to the low IQ crowd and they like the idea of a nationalized natural gas system
She is a self-promoter and probably does very well selling he particular brand of fantasy
I did 10 minutes, I will never get those 10 minutes back
Let alone do another 28 minutes of her BS