§ LORD BALOGHMy Lords, I beg leave to ask the Question which stands in my name on the Order Paper.
§ The Question was as follows:
§ To ask Her Majesty's Government whether they will state what the current price paid by the Gas Board for North Sea Natural Gas at handing over point is for each of the following fields:
- West Sole,
- Hewitt,
- Leman Bank,
- Indefatigable,
- Viking;
§ THE MINISTER WITHOUT PORTFOLIO (LORD DRUMALBYN)The price per therm for basic contract quantities are respectively 1.21p, 1.2p, 1.2p, 1.21p and 1.5p. In the case of Leman Bank the price applies to the first 600 million cubic feet per day, and is 1.19p for the next 600 and 1.18p for the remainder. The price of valley gas—that is, the additional quantities over and above basic gas—is 0.85p per therm for all fields. Negotiations for the purchase of gas from Ekofisk and Cod are still in progress.
§ LORD BALOGHMy Lords, I thank the noble Lord for this unusually informative Answer, and I should like to ask how he squares that Answer with that given by the noble Earl, Lord Limerick, that no renegotiation had taken place on any of these prices?
§ LORD DRUMALBYNMy Lords, the only renegotiation that did take place was with B.P., and that was in 1970.
§ LORD BALOGHMy Lords, that has not been stated: that is all.
§ LORD NUGENT OF GUILDFORDMy Lords, is it a fact that the price being paid by the Gas Council is the lowest price being paid for these supplies of gas by any country in Western Europe?
§ LORD DRUMALBYNYes my Lords; that is my information.
§ LORD BALOGHMy Lords, inasmuch as the Gas Council has a goodish monopoly power, it is not really an extremely creditable or a very good thing that they should pay the lowest prices, is it?
§ LORD DRUMALBYNMy Lords, I do not know what the answer to that question ought to be. These prices are a matter for negotiation between the Gas Board and the producers, and prices are renegotiated provided that the various contracts come to an end, as happened in the case of B.P.