London is in the process of issuing "hundreds" of North Sea gas and oil licences

London, UK - The British government announced on Monday that it is set to issue "hundreds" of new licenses for oil and gas exploration in the North Sea to secure its energy reserves for the coming years while continuing its efforts to achieve net-zero emissions by 2050.

A statement from Prime Minister Rishi Sunak's office emphasized that "investment in the North Sea will continue to create opportunities for new projects, protect jobs, reduce emissions, and enhance the UK's energy independence."

It further stated that a "more flexible approach to license applications" would be adopted, subjecting them to a "climate compatibility test" linked to emission reduction goals.

The government emphasized that it is taking measures to slow the rapid decline in local oil and gas production, ensuring a local supply of energy and reducing reliance on hostile countries.

The Russian invasion of Ukraine in February 2022 led to a global increase in energy prices, with Western countries imposing sanctions on Moscow's extensive oil and gas exports.

The statement quoted Sunak as saying, "We have all witnessed how (Russian President Vladimir) Putin manipulated and weaponized energy, disrupting supplies and causing economic slowdowns in countries around the world."

He added, "Strengthening our energy security and building on this independence to provide cleaner and more affordable energy is now more vital than ever."

According to the North Sea Transition Authority (formerly the Oil and Gas Authority), the carbon footprint from local gas production in the UK is a quarter of that resulting from imported liquefied natural gas.

The authority confirmed its commitment to building two additional carbon capture and storage facilities on the shores of the North Sea in Acorn, northeast Scotland, and Viking, England.

These two facilities, along with two others currently under construction, are expected to create up to 50,000 jobs by 2050.

Later on Monday, Sunak is scheduled to visit an energy facility in Aberdeenshire "to highlight the central role the region will play in enhancing the UK's energy independence and to meet the next generation of skilled apprentices who will be key in driving this work forward."

News of the imminent granting of exploration licenses has drawn criticism from environmental activists who consider halting new exploration operations essential if London wants to achieve carbon neutrality by mid-century.

These activists accuse Conservative Prime Minister Sunak of using climate policies as a political tool amid the cost of living crisis, with an eye on winning the elections expected to take place next year.

The Labour Party, ahead in opinion polls, has promised not to grant new drilling licenses in the North Sea if they win the elections and return to power after over a decade in opposition.

Sunak stated in an interview with The Sunday Telegraph, "I think banning (oil and gas extraction) from the North Sea, as the Labour Party suggests, is completely illogical."

He warned that such a move "would weaken our energy security and bolster the power of despots like President Putin," affirming that his approach is based on "supporting the UK's energy industry," hinting that stopping exploration could result in "lights out" in the country.

 

 

 

 

 

 

 

 

 

 

AFP