[Mr David Amess in the Chair] — Energy Supply

Part of the debate – in Westminster Hall at 2:30 pm on 6th September 2012.

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Photo of David Mowat David Mowat Conservative, Warrington South 2:30 pm, 6th September 2012

I hesitate in trying my hon. Friend’s patience further. I was going to mention this earlier. There is no such thing as a world price of gas. There is a European price of gas and a Henry hub price of gas in the United States of America. Currently, the gas price in the US is one quarter of the price here—that is a game changer. Although the demand in China will be high, the US price may represent a constraint on price even in Europe because, if the US lets it happen, liquefied natural gas can be imported into Europe at a cost that is less than the differential between US gas prices and our gas prices now.