Video: ‘The Gas Crisis What Next?’ Webinar

17 Feb 2022

The causes of the UK’s high gas prices are now well understood. Instead, this webinar discussed how long prices will remain high and what needs to be done to mitigate them.

Prof Michael Bradshaw set the scene by outlining what the UK uses natural gas for, where we get it from and explored future demand, supply and import dependence. Dr Katja Yafimava went on to discuss the role of Russian gas in Europe’s supply, the start-up of Nord Stream 2 (NS2) and the potential impact of conflict in Ukraine.

The combination of these factors suggest that the gas crisis will persist for some time yet. As Mike put it: “there’s already enough baked into the system, as it were, for high prices again next winter. If nothing else, Europe is going to leave this year’s winter heating season with very empty storage…so this gas crisis is not just for this year, it’s something that might be more prolonged”.

In response, Juliet Phillips outlined what the UK Government can do to protect consumers from high prices, highlighting the importance of prioritising energy efficiency in infrastructure. Prof Rob Gross then reflected on points made in the context of the wider energy transition.

Watch the video here: