Industry Analysis & Industry Trends
The United Kingdom is the third-largest producer of natural gas in the European Union, but production has been falling since 2000-01, as reserves have shrunk. The Natural Gas Extraction industry is expected to generate revenue of about £22.56 billion in 2011-12, up 6.9% on the previous year. Revenue has grown from £20.55 billion five years earlier, yielding revenue growth of 1.9% per year. The expansion was concentrated in 2008-09 and 2010-11, either side of an estimated 35.4% plunge in 2009-10, when natural gas prices slumped in response to weak global growth. The industry's profit is expected to be about £5.57 billion in 2011-12 and the industry is expected to contribute about 0.8% of UK GDP... purchase to read moree
Industry Report - Starting a New Business Chapter
There are substantial barriers to entry to the Natural Gas Extraction industry. These include the high-risk nature of oil and gas exploration and development and the large amounts of capital to bring fields into production. The industry is the province of large firms.
Large integrated oil companies that refine crude oil as well as extracting it are the main industry participants. Natural gas and oil often occur in the same field and these companies have the expertise, both technical and regulatory, and access to capital needed to bring reserves into production... purchase to read more