Commenting on the UK’s reliance on imported gas, Andy Mayer, Energy and Infrastructure Analyst at free market think tank the Institute of Economic Affairs, said:

“The UK is currently sitting on some the largest gas reserves in Europe. Yet the government’s Net Zero strategy has left us dangerously exposed to imported gas price increases.

“The development of domestic supplies has been over-regulated, over-taxed or blocked entirely – despite there being no plausible ‘Zero Gas’ strategy for the next 20-30 years. Nuclear isn’t flexible enough, renewables are not reliable enough, nor are the current storage or heating options affordable. 

“This irresponsible approach is increasing Vladimir Putin’s ability to leverage Russia’s gas reserves to divide Europe and threaten Ukraine.

“In attempting to lead the world in tackling climate change, we are undermining our security of supply. Increasing domestic gas production will not solve the problem instantly, but it will improve our ability to withstand future threats.”

ENDS

Notes to editors

Contact: Emily Carver, Head of Media, 07715 942 731

IEA spokespeople are available for interview and further comment.