UK: Meaner politics is in the gas pipeline

Some commentators believe Ofgem was off target with its diagnosis of the perils faced by the UK energy market in its Project Discovery document.

Possibly, but the regulator seems rather more prescient than its detractors, given the news that Gazprom, and its joint venture partners, are mothballing the enormous Shtokman gas field under the Barents Sea.

In a recovery, where is Europe going to get its gas? Shtokman won’t open until at least 2016, but only then if a new decision to invest in 2011 goes ahead.

Telegraph