Starmer pledges state-owned energy firm in conference speech
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The Government has given the green light for the North Sea Transition Authority to launch a new round of oil and gas licensing in October.
Ministers believe it could mean 100 new licences granted for work in the North Sea. And industry body Offshore Energies UK says it is up to the task.
Market intelligence manager Ross Dornan said: “We can produce oil and gas here at a lower emissions footprint than in many of the places we have to import from.
“As international supplies are so tight, they are difficult to access at the moment – and are likely to be for the coming years.
“It is really important we make the most of our own resources. It brings resilience and it brings many other economic and environmental benefits to the UK.”
He said there were developments in the pipeline that could progress “quickly” to help meet energy needs.
Business and Energy Secretary Jacob Rees-Mogg has said the war in Ukraine and Putin’s “weaponisation of energy” makes strengthening UK energy security a “priority”.
Environmental activists oppose the licensing plans. Greenpeace has suggested they may be “unlawful”.
But Mr Dornan said: “Huge scrutiny is put in place when it comes to launching a new licensing round…There are a lot of processes to make sure it is rigorous and it is legal.”
“We are confident as a sector that new licensing is compatible with our net-zero requirements. It is good for the UK’s economy. It is good for our energy security.”
He added new developments would “incorporate the latest clean technologies” to make sure it meets emission targets.
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