The UK Government has today confirmed its support for a new oil and gas licensing round in the North Sea, expected to be launched by the North Sea Transition Authority (NSTA) in early October.
Business and Energy Secretary Jacob Rees-Mogg said: “In light of Putin’s illegal invasion of Ukraine and weaponisation of energy, strengthening our energy security is an absolute priority, and we are going to ensure the UK is a net energy exporter by 2040.
“To get there we will need to explore all avenues available to us through solar, wind, oil and gas production - so it’s right that we’ve lifted the pause to realise any potential sources of domestic gas.”
