Two news updates from Eddie Proffitt

16.02.2010

1. The Department of Energy and Climate Change has issued a licence to Gateway Storage to built an offshore storage site under the Irish Sea off the Lancashire Coast.

The facility will hold 1.5 billion cubic meters (compared with Rough's 3.5 bcm) and Gateway are aiming for 2014 to begin commercial operation. The cost is expected to be £600 million.

2. The Russian gas producer Gazprom has said it will increase gas production by 13% this year to 519 billion cubic meters.