Ed Davey on Energy Security: UK Better than US, Canada, Japan
The United Kingdom will pursue a diversified strategy to maintain its energy security, with the Government investing to foster new infrastructure. This is the message delivered by Ed Davey, Secretary of State for Energy and Climate Change, on Thursday.
“So as we consider our energy security, we also need to think about Britain’s short and medium term fossil fuel needs. And that means getting the best possible return from the North Sea and other indigenous gas and oil reserves – including shale, which Fatih Birol will address,” Davey said during the CBI Energy Conference 2014 in London.
The Secretary of State also said that the UK is in a good position in terms of energy security.
“I can tell you, Britain is energy secure. Indeed, according to the US Chamber of Commerce, Britain is today the most energy secure country in the EU – more secure than France, Germany, Italy, Spain. In fact, we’re the 4th most energy secure country in the whole world according to the US Chamber of Commerce – ahead of the US, Canada, Japan. And I am supremely confident we will stay high in that energy security league in the future,” Davey added, saying that the British prospects remain rosy due to “tens of billions of pounds of investment that have already flooded into the UK’s energy system since 2010.”
On the other hand, British energy security will have to overcome two hefty hurdles: the upcoming Scottish referendum vote and a decrease in oil and gas production in the North Sea.