Fossil Fuels

Mr. Swire
To ask the Secretary of State for Business, Enterprise and Regulatory Reform what the size is of the UK's strategic reserves of (a) petroleum and (b) gas.

Malcolm Wicks
EU member states are required by Directive 2006/67/EC (a codification of previous legislation dating from 1968 and 1998) to hold oil stocks equal to 90 days' average daily national consumption during the preceding calendar year. As a crude oil producer, the UK receives a derogation of 25 per cent. on its obligation and is required only to hold stocks equivalent to 67.5 days. The UK also has a stocking obligation to the International Energy Agency, although this is currently lower than the EU obligation and can be covered by the same stocks.

Latest figures for September 2007 show that the UK held oil stocks of 12.6 million tonnes, equivalent to 76 days of consumption. Other than military stocks that are excluded from strategic stockholding, all UK oil stocks are held by industry.

There are no similar such EU directives relating to gas and consequently no compulsory stocks for gas.