UK/IRELAND

BP/Algeria meet UK gas demands

World Energy giant BP has signed a deal worth up to $US450 million per annum to become the first ...

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In a 50-50 joint venture with the Algerian state oil company Sonatrach, one of the world's leading gas producers, BP will supply 500m cu ft a day from 2005 in a 20-year contract with National Grid Transco.

The venture will meet 5% of the UK's entire current gas demand and all its LNG needs until 2008.

However, in the next decade UK gas demand is expected to expand by at least 15% during which time it is expected that the country will move from being an exporter of gas to relying on imports to provide more than half of its supply.

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