‘Oil and gas workers will not suffer in shift from fossil fuels’
OIL AND gas workers will not be left behind in the “irreversible” shift away from fossil fuels, the Business Secretary said as he set out plans for the North Sea energy sector.
A new “North Sea transition deal” includes targets for the oil and gas sector to reduce emissions over the next decade, and up to £16bn of Government and private investment in cleaner energy technology to support jobs and cut pollution.
The Government also said it will introduce a climate compatibility checkpoint, which will be implemented by the end of 2021, so that future oil and gas licences that are awarded are aligned with wider climate objectives. And from the end of March, the UK will
no longer provide financial support for the fossil fuel energy sector overseas, fulfilling a pledge made by the Prime Minister last year as he sought to drive international climate action.
The industry welcomed the deal, saying it secured energy supplies and jobs. But Greenpeace criticised a “colossal failure” of leadership by the Government as it prepares to host international Cop26 climate talks in the UK, because it did not rule out new oil and gas licences in the North Sea.
Business and Energy Secretary Kwasi Kwarteng said: “We will not leave oil and gas workers behind in the United Kingdom’s irreversible shift away from fossil fuels. Through this landmark sector deal, we will harness the skills, capabilities and pent-up private investment potential of the oil and gas sector to power the green industrial revolution, turning its focus to the next-generation clean technologies the UK needs to support a green economy.”