UK gas prices soar due to attacks on Qatar gas infrastructure: comment

The price of gas has risen sharply following the attack on Qatar’s Ras Laffan complex.

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By Jess Ralston

info@eciu.net

Last updated:

Commenting on the news that UK gas prices are soaring due to the attacks on Qatar gas infrastructure [1], Jess Ralston, Head of Energy at the Energy and Climate Intelligence Unit (ECIU), said:

"This will be a major concern to bill payers, many of who are still carrying debt from the last gas crisis when Russia invaded Ukraine. [2] That led to taxpayers having to step in essentially subsidising gas for millions of homes to the tune of tens of billions. And let’s be clear trying to squeeze more gas out of the North Sea has no real impact on the price households pay because its set by international markets [3] and these kind of world events caused by foreign actors like Putin.

"Put simply, if you want to insulate yourself from these kind of price shocks, use less gas. British wind and solar farms lower our dependence on foreign gas, as do net zero technologies like electric heat pumps and this helps with bill stability. [4] British wind power lowered wholesale prices by a third last year. [5] These are permanent solutions, whereas the North Sea is a mature basin running out of oil and gas, quicker drilling means it runs out quicker."