max temp: 7°C

min temp: 4°C

ESTD 1874 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.



Welcome , please leave your message below.

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

Please log in to leave a comment and share your views with other East Anglian Daily Times 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 East Anglian Daily Times 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 East Anglian Daily Times 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 Buttermarket Centre will become a £35m entertainment complex

Cinema giant Empire has signed up for a new £35m leisure complex being created in the Buttermarket Shopping Centre, Ipswich.

Households with children led an increase in leisure spending during October, according to Greene King.

Greene King has reported a boost to leisure spending during October from the Rugby World Cup and the release of the new James Bond film, Spectre.

Thomas Cook has reported its first annual profit for five years.

The boss of holiday firm Thomas Cook said yesterday that disruption experience since the deadly terrorist attacks in Tunisia, Egypt and Paris was “unprecedented” in his 30-year career.

Hopkins Homes' Bure Place development.

Suffolk-based housebuilder Hopkins Homes has now achieved a hat-trick of national awards for its restoration and conversion of a Victorian listed building in Norfolk.

Fork Rent is one of three Suffolk firms in the new Investec Mid-Market 100 listing.

Three Suffolk firms have broken into a bi-annual listing of the UK’s 100 fastest-growing mid-market private companies.

Andy Fisk and Ian Tooke are the new  joint managing directors at JR Executive Travel.

Suffolk-based JR Executive Travel has been acquired in a buy-out deal valuing the business at £1.8million.

Jonathan Agar of Birketts. left, with Ian Thoroughgood of Grant Thornton.

Suffolk’s leading companies have together recorded solid growth in sales and profits over the past year, according to the new Suffolk Limited report from Grant Thornton.

R3 Eastern chairman Frank Brumby.

Businesses in the East of England are the least likely in the UK to be victims of late payment, research by insolvency trade body R3 shows.

Samantha Ellis of Essex law firm Birkett Long.

Solicitor Samantha Ellis has joined the family team at Essex law firm Birkett Long.

Ice Watch chairman Paul Bowling.

Suffolk-based winter maintenance specialist Ice Watch has won a contract worth £500,000 to carry out gritting and snow clearing services for Yorkshire Water.

Most read

Most commented

Topic pages

Local business directory

Our trusted business finder

Property search

e.g. Oxford or NW3
Powered by Zoopla

Digital Edition

Read the East Anglian Daily Times e-edition today E-edition

Great British Life

Great British Life
MyDate24 MyPhotos24