UK gas production will fall 75 percent by 2030 without new investment, according to industry body Oil & Gas UK. UK gas production will fall 75 percent by 2030 without new investment. That’s according to industry body Oil & Gas UK (OGUK), which noted that the global gas shortage that sent prices surging again this week is a powerful reminder of the UK’s need to maintain its own North Sea supplies. On Tuesday, wholesale gas prices rose 37 percent in one day, hitting $5.44 (GBP 4) per therm in short-term global markets, OGUK highlighted, adding that this was a 700 percent increase compared with more typical levels at the start of 2021. OGUK cited lower Russian supplies and a surging global demand for LNG as factors causing the latest surge. The industry body stated that the UK’s own gas fields in the North Sea and Irish Sea have served […]