The King’s Speech will be used to invite applications for new production licences on an annual basis to ‘safeguard the prosperity of our…
Oil platforms stand amongst other rigs which have been left in the Cromarty Firth near Invergordon in the Highlands of Scotland .
Legislation to be set out later this week in the King’s Speech will require the North Sea Transition Authority to invite applications for new production license on an annual basis to “safeguard the prosperity of our country”. Encouraging domestic gas production, rather than importing higher-carbon emitting liquified natural gas from other countries, means lower carbon fuels for the UK.
“But as the independent Climate Change Committee acknowledges, we will need oil and gas even as we reach net zero. Offshore Energies UK chief executive David Whitehouse, said: “The UK needs the churn of new licences to manage production decline in line with our maturing basin. “We should prioritise our homegrown production to support our energy security, our economy, our jobs, and our world class supply chain that will be the foundation of our low carbon future.”
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