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New UK energy bill calls for simpler regime
01/21/2007
The UK’s new energy bill calls for a simpler regime for offshore gas supply infrastructure so energy companies can invest with greater clarity and with reduced costs and risks, the government said on Jan. 10.Admitting the present regime was complex and a “barrier to investment,” the UK said it was determined to bolster gas supply security as it prepares to import more than half of its needs by 2020.The bill will propel smaller players in the North Sea into offshore oil and gas decommissioning by ensuring adequate environmental and taxpayer protections, the government said.Energy companies also will be encouraged to invest in carbon capture and storage to help address cli...
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