§ Mr. Laurance Reedasked the Secretary of State for Trade and Industry what income it is estimated that his Department will derive from exploitation of natural gas in the British sector of the Continental Shelf during the current year.
§ Mr. RidleyIn the financial year ending 31st March, 1971 the total estimated income arising from the grant of exploration and production licences is about £5 million, consisting of initial and annual payments £1.4 million and royalties about £3.6 million. The amount of royalty receipts will, of course, depend upon the actual quantity of gas delivered on shore.