Why this project is important to the nation
The world demand for gas is growing rapidly. As the
UK becomes increasingly reliant on imported gas,
investing in much-needed storage facilities will boost
this country’s security of supply. If approved, Baird will
play a major role in meeting peak demands.
At present around half of the UK gas requirement is imported and this is predicted, by the government, to rise to 80% by 2020.
The current UK gas storage capacity is amongst the lowest in Europe and would last only a few days if the supply were to be interrupted. By comparison many European countries have enough storage capacity to last two or three months.
The new offshore storage facility will increase the UK storage capacity by around a third, helping to ensure the security of our gas and electricity supply during the winter months. This is of particular importance now that the UK’s own gas production is reducing rapidly.