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UK Gas Production Registers Year-on-Year Decrease

British gas production decreased by 1.6% for the three-month period from March to May 2014 compared to the same period of a year earlier. According to the data released on Thursday, primary energy consumption fell by 12.2% on better weather conditions.

‘Indigenous energy production fell by 0.6%; coal output down 28%, but oil production up 4.1%,’ reads the note.  

The British government said that the data are a positive signal, as they hint at a transition towards domestic production of low-carbon energy. 

“This massive investment in green energy is accelerating, with 2013 a record year, with almost £8 billion invested across range of renewable technologies. Having a strong UK renewable sector helps to reduce our foreign imports of energy, improving our energy security, as well as helping us tackle climate change and creating new hi-tech green jobs. A green energy future that once seemed impossible for Britain is fast becoming a reality,” Secretary of State for Energy Edward Davey commented in a separate communiqué.

Earlier this week, the UK also launched the 14 licensing onshore round.  

Meanwhile, BG released the Q2 results, reporting a 11% year-on-year increase in total operating profit and a concomitant 10% in production volumes. At the same time, the Q2 report indicate a consistent increase in LNG operations. 

According to a document released on Thursday, LNG shipping and marketing total operating profit jumped from $521 million in Q2 2013 to $749 million in Q2 2014.