Overcast

Overcast

max temp: 22°C

min temp: 15°C

Search

East Anglia: EEEGR chief Simon Gray rallies support for change to North Sea gas tax regime

06:00 18 July 2014

EEEGR chief executive Simon Gray.

EEEGR chief executive Simon Gray.

Keith Whitmore

Business leaders in East Anglia are being urged to put pressure on the Government for a change in the tax regime to sustain gas production and exploration in the North Sea.

Simon Gray, chief executive of the East of England Energy Group, which represents firms from across the region’s energy sector, including oil and gas, offshore wind and nuclear, is seeking support from the wider economy, including business organisations and local authorities.

Mr Gray warns that, without a change in the tax regime to encourage further investment, the North Sea gas sector could dwindle, leaving reserves untapped when they could help to power the UK for decades to come.

“I want to rally support for the industry by pointing out the dangers of premature decommissioning of gas fields and removing infrastructure in the Southern North Sea,” he said. “Instead, we need to ensure further exploration and maximise new field developments.”

He is urging all members of EEEGR to reinforce his message to Government, but believes the campaign also requires support from beyond the energy sector.

“I am also asking the New Anglia LEP, chambers of commerce, economic development departments, ports, airports and all stakeholders who benefit from the offshore industry in the region to have their say,” said Mr Gray.

“We must make sure that the voice of the East of England is heard as loud as those in Aberdeen and the North East and to ensure that Government is aware of the particular case and issues we have here in the East of England.”

His call comes in response to The Treasury’s invitation for evidence on the future of the UK oil and gas tax regime and how it should further support the industry as well as ensuring the nation receives a fair share of the profits.

Mr Gray said gas had historically traded at around half the price of oil but faced similar costs and he wanted to the Government to recognise this with a lower tax threshold for gas.

“We would also ask for further stimulation for gas exploration to ensure maximising economic recovery of gas reserves as the Southern North Sea is a solely gas resource while existing infrastructure and subsea resources are still in place,” he added.

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Ipswich Star visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Ipswich Star staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Ipswich Star account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

The vintage tractor run arrives at the Vintage and Modern Tractor Fair held at Suffolk Food Hall.

Landy lovers and tractor nuts descended on one of Suffolk’s 
top farm shop venues for a celebration of agricultural vehicles this weekend.

Left to right: Kevin Woods, Just42 youth work manager; Woodbridge county councillor Caroline Page; Milly Wright, Just42 youth work apprentice; Ellie, youth club member; Sarah Smith, Just42 administrator; Ruth Blunt, Just42 childrens work manager; Caroline Rutherford, Just42 charity manager, outside the Woodbridge youth centre in June

A charity dedicated to supporting young people is hoping to set up temporary accommodation next to its soon-to-be demolished home.

Dr Dan Poulter, Suffolk MP

A Suffolk MP has called for the introduction of a new tax to fund the NHS and social care system.

Drivers reportedly tried to round up a group of emus near Woolpit

Police received an unusual request this morning to help track down the owner of a group of emus causing difficulties for drivers on a road between Stowmarket and Bury St Edmunds.

Left to right: Sarah Liming, Pauline Tully, Katia Matless, Sara Ames collect their GCSE results at West Suffolk College

Parents are often bursting with pride on GCSE results day, but in Bury St Edmunds two mums were jumping for joy not just for their sons but also for gaining their very own A and A* grades as well.

England manager Alf Ramsey and captain Bobby Moore with the Jules Rimet Trophy.

It may be 50 years since Sir Alf Ramsey’s England team won the World Cup - and even longer since he led Ipswich to win the First Division title in their debut season - but affection for the man and what he achieved remains undimmed in his adopted county of Suffolk.

Cancellations on rail line between Marks Tey and Sudbury

Trains were cancelled between Marks Tey and Sudbury this afternoon due to fallen tree on the line.

The George Inn, Wickham Market

Community leaders are pushing for the compulsory purchase of a fire damaged Suffolk pub to save it from being torn down.

The Olympic Stadium in Rio.  Photo: Martin Rickett/PA Wire.

A sports hospitality boss arrested by police in Rio over an alleged ticket touting operation is due to be released from preventative detention, his company has said.

Emergency services attended the crash

A motorcyclist in his 30s has died after a crash in Lynford, near Thetford last night.

Most read

Most commented

HOT JOBS

Show Job Lists

Topic pages

Streetlife

Newsletter Sign Up

MyDate24 MyPhotos24