Oil and Natural Gas: Reserves
(asked on 24th July 2024) - View Source
Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, what steps he will take to ensure that the UK maintains a strategic reserve of oil and gas.
Answered by
Michael Shanks
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 1st August 2024
As a member of the International Energy Agency, the UK has an obligation to hold emergency oil stocks equivalent to a minimum of 90 days of net oil imports for use in the event of a major global oil supply disruption.
The Government recognises the need to have natural gas storage to help respond to short-run changes in supply and demand or during cold winter months.