THE United Kingdom government said today it will issue hundreds of new oil and gas licences in the North Sea to secure energy reserves while still aiming for net-zero carbon emissions by 2050.

“Investment in the North Sea will continue to unlock new projects, protect jobs, reduce emissions and boost UK energy independence,” Prime Minister Rishi Sunak’s office said in a statement.

It said “a more flexible application process” would be applied for the licence requests, which would still be subject to a “climate compatibility” test for carbon reduction goals.

“The government is taking steps to slow the rapid decline in domestic production of oil and gas, which will secure our domestic energy supply and reduce reliance on hostile states,” it said.

Moscow’s ongoing invasion of Ukraine, launched in February 2022, saw a global surge in energy prices as Western nations imposed sanctions on Moscow, targeting its massive oil and gas exports in particular .

“We have all witnessed how (Russian President Vladimir) Putin has manipulated and weaponised energy – disrupting supply and stalling growth in countries around the world,” the statement said.

“Now more than ever, it’s vital that we bolster our energy security and capitalise on that independence to deliver more affordable, clean energy.”

A study released today by the North Sea Transition Authority said the carbon footprint from domestic UK gas production was one-fourth the footprint from imported liquefied natural gas.

It also confirmed plans to build two more carbon-capture facilities along the North Sea coast – at Acorn in northeast Scotland and Viking near Humber, England – alongside two already under construction.

It said the four clusters could support up to 50,000 jobs by 2030.

Later today, Sunak will visit an energy infrastructure site in Aberdeenshire to “highlight the central role the region will play in strengthening the UK’s energy independence, and meet the next generation of skilled apprentices key to driving this work forward”. – AFP, July 31, 2023.