New North Sea oil & gas licences

The UK Prime Minister commits to future oil and gas licensing rounds, to make Britain more energy independent.

The Government and the North Sea Transition Authority (NSTA) are today announcing a joint commitment to future licensing.

The Government says that analysis shows domestic gas production being around one-quarter the carbon footprint of liquefied natural gas.

UK Prime Minister Rishi Sunak says, 'We have all witnessed how Putin has manipulated and weaponised energy – disrupting supply and stalling growth in countries around the world.'

North East Scotland and the the Humber have been chosen as the locations for two new carbon capture usage and storage clusters, which the government think could support up to 50,000 jobs.

The independent Climate Change Committee predicts that around a quarter of the UK's energy demand will still be met by oil and gas for a UK net-zero by 2050 scenario.

The NSTA is running the 33rd offshore oil and gas round, with the first of these new licences to be awarded this autumn, with more than 100 licences expected in total.