§ Mr. Whitakerasked the Minister of Power whether the price offered by the Gas Council to North Sea gas producers was worked out in consultation with officials of his Department.
§ Mr. MarshAs I have said on numerous occasions I have kept myself very closely informed about developments in the North Sea including the price negotiations between the Gas Council and the producers.
§ Mr. Whitakerasked the Minister of Power what is his estimate of the foreign currency which would be required annually for profit remittances abroad by North Sea gas producers assuming an output of 4,000,000 cubic feet a day at the following assumed landed 158W prices, namely, 3d., 2d., and ld. a therm, respectively.
§ Mr. Whitakerasked the Minister of Power what would be the difference between average prices of 2d. and 3d. a therm in the total amounts payable for North Sea gas by the Gas Council over a period of 20 years for an estimated output of 4,000,000,000 cubic feet of gas daily.
§ Mr. MarshAbout £1,200 million. This would be subject to Royalty and to tax in respect of the profit element. It should not, however, be assumed that the price and quantity are unrelated.