Declining UK Continental Shelf gas reserves over the last decade have led the UK to shift from being a net exporter to a net importer of gas. As UK natural gas production continues to decrease, it raises the need for the UK to gain more diverse and secure supplies of energy. At South Hook Gas, we believe that natural gas will be one of the most important and versatile fuels of the future because of its scalability, flexibility and efficiency as well as clean-burning properties. LNG plays a critical role in the UK’s energy mix by improving energy security and competition as a result of access to global supplies. It simply the method of transportation of natural gas that connects geographically separated gas suppliers to gas customers.
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Established in 2004, South Hook Gas is a joint venture between affiliates of Qatar Petroleum (70%) and ExxonMobil Qatargas (II) Trading Company Limited (30%). We are part of the Qatargas 2 value chain, the world’s first fully integrated LNG venture which includes two world class LNG trains, each with a production capacity of 7.8 million tonnes of LNG per annum. This equates to around 20% of Qatar’s LNG portfolio. At the receiving end of this chain, South Hook Gas maximizes the use of the regasification capacity at the South Hook LNG Terminal by importing LNG from Qatar or by marketing spare capacity at the Terminal to enable other companies to supply gas into the UK market.
Commitment to the UK gas market is demonstrated by the £1billion investment by subsidiaries of Qatar Petroleum, ExxonMobil and Total in the South Hook LNG Terminal. South Hook Gas, whose Shareholders are subsidiaries of Qatar Petroleum and ExxonMobil, has acquired the primary capacity rights at the Terminal.