A company with a history of turning the gas industry upside down is now making a major strategic shift.
Natural Gas UK, a company with more than 200 employees in Britain, has announced it is to invest $3bn in a new facility to produce natural gas from shale gas, after a series of delays and setbacks.
The company’s chief executive, Simon Gorman, said the investment would help it achieve its ambition to produce up to one million tonnes of natural gas per year from shale.
Natural Gases (NG) is an industry group that was founded by the former head of British Gas, Alan White.
White resigned from his post after a meeting with the UK government to discuss the future of the gas sector.
In its latest statement announcing the investment, the company said it was also making significant progress on a deal to sell natural gas to Germany.
“The announcement of the investment today marks the latest development in our business, and is a major step forward for our growth,” the statement said.
Natural gas producers in Europe have been struggling to find new gas supplies, after the European Union imposed a moratorium on all new gas export licenses, as the UK is grappling with the impact of the UK’s exit from the bloc.
Gorman said that the UK was in the middle of a period of “fragile growth”, and that the world was on the brink of a new era of natural-gas dominance.
Naturalgas has been the biggest export for the UK since it joined the European market in 1999, and Gorman said Natural Gas UK was aiming to double its annual sales to around £10bn by 2021.
Natural Gas Britain said it had a global market of more than 250 million people, and had a network of around 1,000 gas-processing plants and storage facilities.