Scotland must seize the opportunities offered by its world-class natural energy resources to realise its full economic potential despite current global challenges, Alex Salmond said today.

The First Minister was speaking at Duff House in Banff where he hosted a reception for representatives of Scotland's energy sector.

He said: "While we are confident Scotland's economy is well placed to address the challenges presented by the current economic climate, the Scottish Government will do all we can to support key industries like the energy sector - which has the potential to make a significant contribution towards our goal of increased sustainable economic growth, despite international challenges.


"The value of our oil is an all time high, yet we have still to reap the full benefits of our natural resources."

The First Minister mentioned the a Scottish Oil Fund - a concept supported by over 80 per cent of people in Scotland – and stated how it can deliver direct and long term benefits.

"We are making great strides in becoming a world leader in renewable energy and have the potential to generate 10 times Scotland's peak demand for electricity.

"In the last few weeks, we have announced a new biomass plant at Markinch, an extension to Crystal rig windfarm and the creation of Europe's largest windfarms in South Lanarkshire - an investment of around £800 million in wind and biomass," He said

Mr Salmond said the energy sector, its future and prosperity is a key part of this debate and our vision for the future, and urged everyone to get involved and have their say.

(GK/JM)