ENERGY minister Michael Fallon is visiting Qatar this week and meeting with officials to try to secure new gas import deals and attract a possible £10bn of investment into UK infrastructure.
Fallon has made it clear that Britain is looking for new long-term gas supply contracts with Qatar – which currently supplies around 15 per cent of Britain’s gas – as “they have proved a very reliable partner”.
Fallon is also seeking new investment into UK infrastructure projects, with a minority stake in the Hinkley Point nuclear project rumoured to be on the table.
A Department of Energy and Climate Change spokesperson told City A.M. that it is too early to give details on individual projects.
Britain’s energy mix has been a hot topic over the past few weeks, with the big six suppliers blaming government levies used to fund investment into green energy sources for raising customers’ bills.
Prime Minister David Cameron has pledged to roll back the levies, with Deputy Prime Minister Nick Clegg suggesting they be moved to general taxation. An announcement is expected to be made at or before the chancellor’s autumn statement on 4 December.