Prime Minister hosted a roundtable of
leaders in the UK’s offshore oil and gas industry today to
discuss domestic energy security.
This is part of a series of engagement by the Government across
the UK’s energy sectors, including with renewable and nuclear
companies in the coming days and weeks.
The Prime Minister reaffirmed his steadfast commitment to the
North Sea oil and gas industry as a key asset in the UK’s plans
for achieving greater energy independence, in ensuring the
country’s smooth transition to net zero and in being part of the
solutions needed for a cleaner future – which are ever more
crucial as we move away from Russian hydrocarbons following
Putin’s illegal invasion of Ukraine. This was welcomed and echoed
by industry leaders, who made clear that the oil and gas industry
are fully behind the UK’s energy transition.
The Prime Minister and CEOs discussed increasing investment in
the North Sea oil and gas industry and boosting supply of
domestic gas. This included how the UK can remove barriers facing
investors and developers, and help projects come online more
quickly. They agreed to work together going forwards to help
accelerate this further.
They also spoke about how the oil and gas industry plays a vital
role in providing the solutions for our net zero future,
including in the production of low-carbon hydrogen and roll out
of new carbon capture projects, which the sector is
well-positioned to take forward thanks to its skills and
expertise.
The roundtable comes ahead of the publication of the UK’s plans
for greater energy security this month, with renewable energy,
nuclear and domestic gas all a crucial part of achieving its
aims. It also follows the UK’s recent decision to end imports of
Russian oil over the course of this year.
The Chancellor of the Duchy of Lancaster , Business Secretary , Energy Minister , and Chief Secretary to the
Treasury also joined the meeting at
Downing Street.
Those represented from the oil and gas industry included: the Oil
and Gas Authority, Blackstone Energy Partners, Bluewater Energy,
BP, Carlyle International Energy Partners, Equinor, Esso,
Greenergy, Harbour Energy, Neptune Energy, Offshore Energies UK,
Prax Group, TotalEnergies and Shell.
